Analysts Set Zillow Group, Inc. (NASDAQ:ZG) Price Target at $71.24

Shares of Zillow Group, Inc. (NASDAQ:ZG) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-five research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $71.2381.

ZG has been the topic of several research reports. Zacks Research upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 10th. Susquehanna set a $50.00 price target on Zillow Group in a research note on Thursday, February 12th. Benchmark restated a “buy” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Piper Sandler cut their price target on Zillow Group from $70.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, KeyCorp cut their price target on Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th.

Insider Activity

In other news, insider Errol G. Samuelson sold 2,939 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $37.97, for a total transaction of $111,593.83. Following the transaction, the insider owned 134,039 shares in the company, valued at approximately $5,089,460.83. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 6,051 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $37.92, for a total value of $229,453.92. Following the transaction, the chief executive officer owned 162,771 shares in the company, valued at approximately $6,172,276.32. This represents a 3.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 40,833 shares of company stock valued at $1,587,196. Company insiders own 29.88% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Several institutional investors have recently made changes to their positions in the company. DoubleLine ETF Adviser LP boosted its position in Zillow Group by 4.9% during the third quarter. DoubleLine ETF Adviser LP now owns 3,214 shares of the technology company’s stock valued at $239,000 after purchasing an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Zillow Group by 4.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,657 shares of the technology company’s stock valued at $256,000 after purchasing an additional 156 shares in the last quarter. Signaturefd LLC boosted its position in Zillow Group by 10.4% during the fourth quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock valued at $117,000 after purchasing an additional 161 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Zillow Group by 78.9% during the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock valued at $33,000 after purchasing an additional 187 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Zillow Group by 23.1% during the third quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock valued at $80,000 after purchasing an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Stock Down 1.2%

ZG stock opened at $37.61 on Friday. The business’s fifty day simple moving average is $42.81 and its two-hundred day simple moving average is $56.17. Zillow Group has a twelve month low of $37.26 and a twelve month high of $90.22. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 150.44, a PEG ratio of 1.78 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.17 million. During the same quarter last year, the firm posted $0.41 earnings per share. The business’s revenue was up 18.4% compared to the same quarter last year. Research analysts expect that Zillow Group will post 0.82 EPS for the current year.

Zillow Group Company Profile

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.