Zillow Group, Inc. (NASDAQ:Z) Receives $63.20 Consensus Price Target from Analysts

Zillow Group, Inc. (NASDAQ:Z) has earned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $63.20.

Z has been the topic of several recent research reports. UBS Group raised shares of Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Craig Hallum raised shares of Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Cantor Fitzgerald upgraded Zillow Group to a “hold” rating in a report on Thursday, September 5th. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 9th.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, Chairman Lloyd D. Frink sold 150,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the completion of the transaction, the chairman now directly owns 582 shares in the company, valued at $29,583.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Lloyd D. Frink sold 150,000 shares of Zillow Group stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the transaction, the chairman now owns 582 shares in the company, valued at $29,583.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dan Spaulding sold 2,991 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total value of $159,061.38. Following the sale, the insider now owns 70,342 shares in the company, valued at $3,740,787.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 221,999 shares of company stock valued at $11,780,363. 23.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Large investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Zillow Group during the 4th quarter worth about $34,718,000. True Vision MN LLC bought a new position in Zillow Group in the fourth quarter valued at approximately $442,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Zillow Group by 30.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 669,892 shares of the financial services provider’s stock worth $32,677,000 after acquiring an additional 156,249 shares during the period. Allianz Asset Management GmbH raised its position in shares of Zillow Group by 100.7% during the 4th quarter. Allianz Asset Management GmbH now owns 37,248 shares of the financial services provider’s stock valued at $2,155,000 after acquiring an additional 18,686 shares during the last quarter. Finally, Prudential PLC bought a new position in shares of Zillow Group in the 2nd quarter worth $474,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Stock Performance

Zillow Group stock opened at $64.65 on Friday. Zillow Group has a fifty-two week low of $33.80 and a fifty-two week high of $68.73. The firm’s 50 day simple moving average is $55.12 and its 200-day simple moving average is $48.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The company has a market cap of $15.27 billion, a P/E ratio of -93.70 and a beta of 1.94.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.13. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The firm had revenue of $572.00 million for the quarter, compared to analyst estimates of $539.74 million. As a group, equities research analysts predict that Zillow Group will post -0.33 EPS for the current year.

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.