Zillow Group, Inc. (NASDAQ:ZG) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Zillow Group, Inc. has received a consensus recommendation of "Hold" from 25 ratings firms, with 1 sell, 11 hold, and 13 buy recommendations.
• The company's average 12-month target price among analysts is $85.62, reflecting a recent increase in price objectives from several firms.
• Recent insider selling activities include Dan Spaulding selling 100,000 shares for approximately $8.59 million, indicating a significant reduction in his position in the company.

Shares of Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) have received a consensus recommendation of "Hold" from the twenty-five ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $85.6190.

Several research analysts have commented on the company. KeyCorp reaffirmed an "overweight" rating and set a $92.00 target price (up from $90.00) on shares of Zillow Group in a report on Thursday, August 7th. Piper Sandler boosted their price objective on Zillow Group from $82.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Canaccord Genuity Group boosted their price objective on Zillow Group from $76.00 to $84.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Royal Bank Of Canada boosted their price objective on Zillow Group from $88.00 to $95.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Zillow Group from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th.

Zillow Group Stock Performance

Shares of ZG opened at $84.78 on Monday. Zillow Group has a 52-week low of $51.16 and a 52-week high of $86.58. The business's fifty day moving average is $77.47 and its 200-day moving average is $70.93. The firm has a market cap of $20.54 billion, a price-to-earnings ratio of -326.08, a PEG ratio of 15.97 and a beta of 2.02.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.40 earnings per share 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 the consensus estimate of $647.06 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The company's revenue was up 14.5% on a year-over-year basis. As a group, research analysts forecast that Zillow Group will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Dan Spaulding sold 100,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $85.91, for a total transaction of $8,591,000.00. Following the transaction, the insider directly owned 68,889 shares of the company's stock, valued at approximately $5,918,253.99. This represents a 59.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jun Choo sold 45,710 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $85.21, for a total value of $3,894,949.10. Following the transaction, the chief operating officer directly owned 117,098 shares in the company, valued at approximately $9,977,920.58. This trade represents a 28.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 580,622 shares of company stock worth $49,350,788 over the last three months. Insiders own 17.14% of the company's stock.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZG. Northern Trust Corp increased its holdings in Zillow Group by 2.5% during the 4th quarter. Northern Trust Corp now owns 247,078 shares of the technology company's stock worth $17,505,000 after purchasing an additional 6,088 shares in the last quarter. Centiva Capital LP bought a new position in shares of Zillow Group in the fourth quarter valued at approximately $278,000. Cetera Investment Advisers bought a new position in shares of Zillow Group in the fourth quarter valued at approximately $228,000. Graham Capital Management L.P. bought a new position in shares of Zillow Group in the fourth quarter valued at approximately $1,530,000. Finally, Interval Partners LP bought a new position in shares of Zillow Group in the fourth quarter valued at approximately $4,854,000. 20.32% of the stock is owned by institutional investors.

About Zillow Group

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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