Zillow Group, Inc. (NASDAQ:ZG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Zillow Group, Inc. (NASDAQ:ZG) have been given an average rating of “Moderate Buy” by the twenty-six brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $78.0455.

A number of research analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Wells Fargo & Company reduced their price objective on shares of Zillow Group from $73.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 10th. DA Davidson set a $75.00 target price on shares of Zillow Group in a report on Thursday, February 12th. Citizens Jmp dropped their target price on shares of Zillow Group from $90.00 to $85.00 and set a “market outperform” rating for the company in a research report on Monday, January 12th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Zillow Group in a report on Monday, December 15th.

Zillow Group Trading Down 3.7%

Shares of ZG stock opened at $44.80 on Monday. Zillow Group has a 12-month low of $41.90 and a 12-month high of $90.22. The stock has a market capitalization of $10.75 billion, a P/E ratio of 497.83, a P/E/G ratio of 2.51 and a beta of 2.06. The firm’s 50 day moving average is $59.75 and its 200 day moving average is $69.34.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Tuesday, February 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). The firm had revenue of $654.00 million during the quarter, compared to analysts’ expectations of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 earnings per share. As a group, equities analysts predict that Zillow Group will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Dan Spaulding sold 5,361 shares of Zillow Group stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $43.95, for a total value of $235,615.95. Following the completion of the transaction, the insider owned 41,080 shares in the company, valued at approximately $1,805,466. This trade represents a 11.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jeremy Hofmann sold 7,786 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total value of $340,481.78. Following the sale, the chief financial officer owned 57,487 shares in the company, valued at approximately $2,513,906.51. This trade represents a 11.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 62,007 shares of company stock valued at $2,771,433 in the last three months. Corporate insiders own 17.14% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Invesco Ltd. lifted its stake in Zillow Group by 21.1% in the fourth quarter. Invesco Ltd. now owns 62,706 shares of the technology company’s stock worth $4,278,000 after acquiring an additional 10,941 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in shares of Zillow Group by 25.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,712 shares of the technology company’s stock worth $458,000 after purchasing an additional 1,342 shares during the period. Empowered Funds LLC boosted its stake in shares of Zillow Group by 17.9% during the fourth quarter. Empowered Funds LLC now owns 6,276 shares of the technology company’s stock valued at $428,000 after purchasing an additional 955 shares in the last quarter. XTX Topco Ltd purchased a new position in Zillow Group during the fourth quarter valued at approximately $8,009,000. Finally, Voloridge Investment Management LLC purchased a new position in Zillow Group during the fourth quarter valued at approximately $11,652,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

About Zillow Group

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.