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

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty-two brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $81.80.

Several equities research analysts recently weighed in on ZG shares. Wedbush reiterated an "outperform" rating and set a $90.00 price objective (down previously from $100.00) on shares of Zillow Group in a research note on Thursday, May 8th. William Blair assumed coverage on shares of Zillow Group in a research report on Monday, April 21st. They issued a "market perform" rating for the company. Citigroup decreased their target price on shares of Zillow Group from $98.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Keefe, Bruyette & Woods upgraded shares of Zillow Group to a "hold" rating in a research report on Friday, March 28th. Finally, The Goldman Sachs Group decreased their target price 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.

Insider Activity at Zillow Group

In related news, CAO Jennifer Rock sold 5,997 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $68.06, for a total value of $408,155.82. Following the completion of the sale, the chief accounting officer now owns 58,320 shares in the company, valued at approximately $3,969,259.20. This represents a 9.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Erik C. Blachford sold 965 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $70.35, for a total transaction of $67,887.75. Following the completion of the sale, the director now owns 35,474 shares of the company's stock, valued at approximately $2,495,595.90. This trade represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,093 shares of company stock valued at $6,989,688 over the last ninety days. Insiders own 17.14% of the company's stock.

Institutional Investors Weigh In On Zillow Group

Several hedge funds have recently made changes to their positions in ZG. Truist Financial Corp lifted its position in Zillow Group by 67.9% in the 4th quarter. Truist Financial Corp now owns 6,196 shares of the technology company's stock worth $439,000 after buying an additional 2,506 shares in the last quarter. Private Advisor Group LLC lifted its position in Zillow Group by 104.9% in the 4th quarter. Private Advisor Group LLC now owns 24,718 shares of the technology company's stock worth $1,751,000 after buying an additional 12,654 shares in the last quarter. Ieq Capital LLC lifted its position in Zillow Group by 4.9% in the 4th quarter. Ieq Capital LLC now owns 12,123 shares of the technology company's stock worth $859,000 after buying an additional 566 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Zillow Group in the 4th quarter worth approximately $557,000. Finally, Proficio Capital Partners LLC purchased a new stake in Zillow Group in the 4th quarter worth approximately $1,807,000. Hedge funds and other institutional investors own 20.32% of the company's stock.

Zillow Group Price Performance

Shares of ZG stock opened at $68.67 on Wednesday. Zillow Group has a 12 month low of $40.30 and a 12 month high of $86.58. The firm has a market capitalization of $16.58 billion, a P/E ratio of -201.97, a P/E/G ratio of 12.46 and a beta of 2.11. The company's fifty day moving average price is $66.47 and its two-hundred day moving average price is $70.50.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its earnings results on Wednesday, May 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). The company had revenue of $598.00 million during the quarter, compared to analyst estimates of $587.88 million. Zillow Group had a negative net margin of 3.51% and a negative return on equity of 1.62%. The business's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. On average, sell-side analysts anticipate that Zillow Group will post 0.32 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.