Analysts Set Zillow Group, Inc. (NASDAQ:ZG) PT at $85.62

Zillow Group, Inc. (NASDAQ:ZG) has been given an average rating of “Hold” by the twenty-five ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $85.6190.

A number of research firms recently weighed in on ZG. Wells Fargo & Company increased their price objective on shares of Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Evercore ISI raised their target price on shares of Zillow Group from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Canaccord Genuity Group raised their target price on shares of Zillow Group from $76.00 to $84.00 and gave the company a “hold” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Zillow Group from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Finally, Piper Sandler raised their target price on shares of Zillow Group from $82.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th.

Insider Activity

In other Zillow Group news, CEO Jeremy Wacksman sold 11,275 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $85.73, for a total transaction of $966,605.75. Following the transaction, the chief executive officer owned 153,113 shares of the company’s stock, valued at approximately $13,126,377.49. This trade represents a 6.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dan Spaulding sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $85.91, for a total transaction of $8,591,000.00. Following the transaction, the insider directly owned 68,889 shares in the company, valued at approximately $5,918,253.99. The trade was a 59.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 580,379 shares of company stock worth $49,319,729 in the last 90 days. 17.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Several large investors have recently made changes to their positions in ZG. Norges Bank bought a new position in shares of Zillow Group during the 2nd quarter valued at about $159,770,000. Raymond James Financial Inc. bought a new position in shares of Zillow Group during the 4th quarter valued at about $14,916,000. Sone Capital Management LLC bought a new position in shares of Zillow Group during the 4th quarter valued at about $11,185,000. Millennium Management LLC boosted its position in shares of Zillow Group by 110.8% during the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after purchasing an additional 152,955 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new position in shares of Zillow Group during the 1st quarter valued at about $9,998,000. Institutional investors own 20.32% of the company’s stock.

Zillow Group Stock Down 3.0%

ZG stock opened at $77.58 on Thursday. Zillow Group has a fifty-two week low of $51.16 and a fifty-two week high of $86.58. The firm’s 50-day simple moving average is $74.12 and its 200 day simple moving average is $70.88. The stock has a market cap of $18.80 billion, a PE ratio of -298.38, a price-to-earnings-growth ratio of 15.07 and a beta of 2.07.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%.The firm had revenue of $655.00 million during the quarter, compared to analyst estimates of $647.06 million. During the same period last year, the business earned $0.39 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. Equities analysts forecast that Zillow Group will post 0.32 EPS for the current fiscal 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.