Brokerages Set Zillow Group, Inc. (NASDAQ:Z) Price Target at $72.38

Zillow Group, Inc. (NASDAQ:Z) has been given a consensus rating of “Moderate Buy” by the sixteen analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $72.3750.

Several analysts have recently issued reports on Z shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a report on Friday, May 8th. Keefe, Bruyette & Woods reduced their target price on Zillow Group from $50.00 to $37.00 and set a “market perform” rating on the stock in a report on Monday, July 13th. JPMorgan Chase & Co. lowered their price target on Zillow Group from $84.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Wall Street Zen upgraded Zillow Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings downgraded Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 22nd.

Trending Headlines about Zillow Group

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Zillow reported adjusted earnings of $0.52 per share, above the $0.44–$0.45 analyst consensus and up from $0.40 a year earlier. Revenue of $772 million also exceeded estimates ranging from $758 million to $ D?

Insider Buying and Selling at Zillow Group

In related news, General Counsel Bradley D. Owens sold 3,364 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $37.23, for a total transaction of $125,241.72. Following the completion of the sale, the general counsel owned 65,245 shares of the company’s stock, valued at approximately $2,429,071.35. This represents a 4.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,072 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $36.54, for a total transaction of $331,490.88. Following the completion of the transaction, the chief executive officer owned 153,699 shares in the company, valued at $5,616,161.46. The trade was a 5.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 42,910 shares of company stock worth $1,605,732. Company insiders own 25.03% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new stake in Zillow Group during the 4th quarter worth $28,000. Flagship Harbor Advisors LLC purchased a new position in Zillow Group in the fourth quarter valued at about $43,000. Leonteq Securities AG lifted its stake in shares of Zillow Group by 627.0% during the first quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 1,160 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Zillow Group by 283.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 1,045 shares in the last quarter. Finally, IFC & Insurance Marketing Inc. purchased a new stake in shares of Zillow Group in the fourth quarter worth about $68,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Stock Performance

Z opened at $36.10 on Monday. Zillow Group has a 1 year low of $29.23 and a 1 year high of $93.88. The company’s 50 day simple moving average is $33.12 and its 200 day simple moving average is $41.84. The stock has a market capitalization of $8.26 billion, a PE ratio of 144.40, a P/E/G ratio of 1.55 and a beta of 1.98.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. The firm had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.10 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. As a group, sell-side analysts expect that Zillow Group will post 0.9 earnings per share for the current fiscal year.

About Zillow Group

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.