Zillow Group, Inc. (NASDAQ:ZG) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Zillow Group has received a consensus rating of "Moderate Buy" from twenty-four brokerages, with an average 12-month price target set at $85.62.
• Insider trading activity included notable sales by CAO Jennifer Rock and COO Jun Choo, reducing their holdings by 9.33% and 28.08%, respectively.
• The company's recent quarterly earnings report revealed an EPS of $0.40, missing estimates of $0.44, while revenue increased 14.5% year-over-year, amounting to $655 million.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-four brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $85.6190.

Several equities research analysts have recently weighed in on ZG shares. KeyCorp reaffirmed an "overweight" rating and issued a $92.00 price target (up previously from $90.00) on shares of Zillow Group in a research report on Thursday, August 7th. Barclays reaffirmed an "underweight" rating and issued a $66.00 price target (up previously from $60.00) on shares of Zillow Group in a research report on Thursday, August 7th. The Goldman Sachs Group lowered their price target on shares of Zillow Group from $77.00 to $69.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. William Blair started coverage on shares of Zillow Group in a research report on Monday, April 21st. They issued a "market perform" rating for the company. Finally, Evercore ISI boosted their price objective on shares of Zillow Group from $90.00 to $95.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th.

Insiders Place Their Bets

In related news, CAO Jennifer Rock sold 5,177 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $82.69, for a total transaction of $428,086.13. Following the completion of the sale, the chief accounting officer directly owned 50,301 shares in the company, valued at approximately $4,159,389.69. This trade represents a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jun Choo sold 45,710 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $85.21, for a total transaction of $3,894,949.10. Following the sale, the chief operating officer owned 117,098 shares of the company's stock, valued at approximately $9,977,920.58. The trade was a 28.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,713 shares of company stock valued at $16,197,138. Corporate insiders own 17.14% of the company's stock.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors have recently made changes to their positions in ZG. Franklin Resources Inc. boosted its stake in shares of Zillow Group by 42.1% in the fourth quarter. Franklin Resources Inc. now owns 4,739 shares of the technology company's stock valued at $336,000 after purchasing an additional 1,405 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Zillow Group by 13.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,137 shares of the technology company's stock valued at $364,000 after purchasing an additional 600 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Zillow Group by 97.8% in the fourth quarter. Renaissance Technologies LLC now owns 62,100 shares of the technology company's stock valued at $4,400,000 after purchasing an additional 30,700 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Zillow Group in the fourth quarter valued at approximately $14,916,000. Finally, Sterling Capital Management LLC boosted its stake in shares of Zillow Group by 57.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,825 shares of the technology company's stock valued at $200,000 after purchasing an additional 1,032 shares during the period. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Stock Up 5.5%

Zillow Group stock opened at $81.27 on Thursday. The company's 50-day moving average price is $73.05 and its 200-day moving average price is $70.86. Zillow Group has a twelve month low of $50.18 and a twelve month high of $86.58. The company has a market cap of $19.62 billion, a PE ratio of -312.58, a price-to-earnings-growth ratio of 12.51 and a beta of 2.07.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%. The firm had revenue of $655.00 million for the quarter, compared to analysts' expectations of $647.06 million. During the same period in the prior year, the firm posted $0.39 earnings per share. Zillow Group's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, sell-side analysts expect that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.

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