Zillow Group, Inc. (NASDAQ:ZG) Receives Average Rating of “Hold” from Brokerages

Zillow Group, Inc. (NASDAQ:ZG) has been assigned an average recommendation of “Hold” from the twenty-nine research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $87.0870.

ZG has been the topic of a number of research analyst reports. Citigroup reissued a “market outperform” rating on shares of Zillow Group in a research note on Monday, November 24th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Zillow Group in a report on Monday, October 27th. DA Davidson restated a “buy” rating and issued a $95.00 target price on shares of Zillow Group in a report on Thursday, October 2nd. Oppenheimer initiated coverage on shares of Zillow Group in a research report on Monday, October 6th. They set a “market perform” rating for the company. Finally, Wells Fargo & Company decreased their price target on shares of Zillow Group from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Thursday, September 11th.

Insiders Place Their Bets

In related news, CFO Jeremy Hofmann sold 7,865 shares of Zillow Group stock in a transaction on Friday, November 14th. The stock was sold at an average price of $69.53, for a total value of $546,853.45. Following the transaction, the chief financial officer owned 70,811 shares in the company, valued at approximately $4,923,488.83. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dan Spaulding sold 5,455 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $69.40, for a total value of $378,577.00. Following the sale, the insider directly owned 50,342 shares of the company’s stock, valued at approximately $3,493,734.80. This trade represents a 9.78% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 67,511 shares of company stock worth $4,766,357. Corporate insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Garde Capital Inc. grew its holdings in Zillow Group by 0.4% during the 3rd quarter. Garde Capital Inc. now owns 107,816 shares of the technology company’s stock worth $8,026,000 after acquiring an additional 400 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Zillow Group during the third quarter worth about $980,000. NewEdge Advisors LLC lifted its position in shares of Zillow Group by 3,500.0% during the third quarter. NewEdge Advisors LLC now owns 10,800 shares of the technology company’s stock worth $804,000 after purchasing an additional 10,500 shares during the last quarter. Connective Capital Management LLC acquired a new position in Zillow Group in the third quarter worth about $498,000. Finally, Caxton Associates LLP bought a new stake in Zillow Group in the third quarter valued at about $2,190,000. 20.32% of the stock is owned by institutional investors and hedge funds.

Zillow Group Stock Performance

ZG stock opened at $68.92 on Wednesday. The company has a 50 day moving average price of $70.60 and a two-hundred day moving average price of $74.04. The stock has a market capitalization of $16.68 billion, a P/E ratio of -492.25, a PEG ratio of 26.21 and a beta of 2.06. Zillow Group has a one year low of $56.63 and a one year high of $90.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The business had revenue of $676.00 million for the quarter, compared to analysts’ expectations of $670.28 million. Zillow Group had a negative return on equity of 0.56% and a negative net margin of 1.29%.The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. Research analysts forecast 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.