Zillow Group, Inc. (NASDAQ:ZG) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Zillow Group has a “Moderate Buy” consensus rating from 26 analysts, with 13 buys, 11 holds, one sell and one strong buy. The average 12-month price target is approximately $69.48.
• ZG shares opened at $34.32, well below the consensus target and near the lower end of their 52-week range. In its latest quarter, Zillow beat earnings estimates with $0.53 in EPS versus $0.43 expected, while revenue rose 18.4% year over year to $708 million.
• Insiders sold shares recently under pre-arranged trading plans to cover tax obligations, while several institutional investors increased their positions. Insiders own 29.88% of the company, and institutional investors own 20.32%.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twenty-six research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $69.4762.

A number of brokerages recently commented on ZG. Wells Fargo & Company boosted their target price on Zillow Group from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 7th. KeyCorp reduced their price objective on Zillow Group from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. Citigroup restated a "market outperform" rating on shares of Zillow Group in a report on Tuesday, May 26th. Piper Sandler decreased their price objective on Zillow Group from $70.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Zillow Group in a research report on Thursday, June 11th.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $34.32 on Thursday. The company's 50 day moving average price is $33.33 and its 200-day moving average price is $42.94. Zillow Group has a 52-week low of $29.03 and a 52-week high of $90.22. The company has a market capitalization of $7.85 billion, a P/E ratio of 137.28, a price-to-earnings-growth ratio of 1.45 and a beta of 1.95.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.10. The business had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. Zillow Group's quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. Analysts forecast that Zillow Group will post 0.9 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In other news, insider Dan Spaulding sold 3,078 shares of Zillow Group stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $37.40, for a total transaction of $115,117.20. Following the completion of the transaction, the insider directly owned 49,696 shares in the company, valued at $1,858,630.40. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,501 shares of the business's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $205,737.40. Following the sale, the chief financial officer directly owned 68,315 shares of the company's stock, valued at approximately $2,554,981. The trade was a 7.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 42,910 shares of company stock worth $1,605,732 in the last ninety days. 29.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Several large investors have recently added to or reduced their stakes in ZG. AQR Capital Management LLC increased its holdings in Zillow Group by 40.5% during the 1st quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company's stock worth $862,000 after purchasing an additional 3,717 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Zillow Group by 110.8% in the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company's stock valued at $19,456,000 after purchasing an additional 152,955 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Zillow Group by 7.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company's stock valued at $5,878,000 after purchasing an additional 5,737 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Zillow Group by 5.8% during the second quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company's stock valued at $1,445,000 after buying an additional 1,150 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Zillow Group by 16.3% during the second quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company's stock valued at $543,000 after buying an additional 1,110 shares during the last quarter. Institutional investors own 20.32% of the company's stock.

Zillow Group Company Profile

Zillow Group NASDAQ: ZG is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow's core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.

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