Zillow Group, Inc. (NASDAQ:ZG) Stock Rated “Hold” by Sell-Side Brokerages

Shares of Zillow Group, Inc. (NASDAQ:ZG) have been assigned a consensus recommendation of “Hold” from the twenty-three research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $47.67.

A number of analysts recently commented on ZG shares. Susquehanna decreased their target price on Zillow Group from $38.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, November 6th. Sanford C. Bernstein cut their price target on Zillow Group from $38.00 to $34.00 and set a “market perform” rating on the stock in a report on Thursday, November 5th. Benchmark reissued a “buy” rating on shares of Zillow Group in a research note on Monday, August 24th. DA Davidson reduced their price objective on Zillow Group from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Wells Fargo & Company decreased their target price on shares of Zillow Group from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, November 5th.

Insiders Place Their Bets

In other news, Director Erik Blachford sold 792 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $35.71, for a total transaction of $28,282.32. Following the completion of the transaction, the director directly owned 34,160 shares of the company’s stock, valued at $1,219,853.60. This represents a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Hofmann sold 5,661 shares of Zillow Group stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the sale, the chief financial officer directly owned 59,144 shares of the company’s stock, valued at approximately $2,021,541.92. This trade represents a 8.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last quarter, insiders have sold 20,148 shares of company stock valued at $695,458. Company insiders own 29.88% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Technology Crossover Management XI Ltd. purchased a new position in Zillow Group during the 2nd quarter valued at about $73,694,895. Kahn Brothers Group Inc. purchased a new stake in shares of Zillow Group in the second quarter worth about $37,265,000. Dimensional Fund Advisors LP lifted its holdings in shares of Zillow Group by 18.2% in the first quarter. Dimensional Fund Advisors LP now owns 554,460 shares of the technology company’s stock worth $22,947,000 after buying an additional 85,367 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Zillow Group by 724.4% in the third quarter. Assenagon Asset Management S.A. now owns 406,398 shares of the technology company’s stock worth $11,257,000 after buying an additional 357,104 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Zillow Group by 106.6% in the first quarter. Quantinno Capital Management LP now owns 176,052 shares of the technology company’s stock valued at $7,287,000 after acquiring an additional 90,858 shares during the period. Institutional investors own 20.32% of the company’s stock.

Zillow Group Stock Up 0.9%

Shares of NASDAQ ZG opened at $29.77 on Friday. Zillow Group has a twelve month low of $27.25 and a twelve month high of $74.80. The firm has a fifty day simple moving average of $31.28 and a 200 day simple moving average of $37.96. The company has a market capitalization of $6.69 billion, a PE ratio of -57.25, a P/E/G ratio of 1.26 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Wednesday, November 4th. The technology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The business had revenue of $724.00 million during the quarter, compared to the consensus estimate of $753.66 million. Zillow Group had a positive return on equity of 3.23% and a negative net margin of 3.95%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 earnings per share. As a group, equities analysts expect that Zillow Group will post 0.91 earnings per share for the current fiscal year.

Zillow Group Company Profile

Zillow Group, Inc. operates a digital real estate marketplace focused primarily on the United States. Its websites and mobile apps help consumers find homes for sale and rent, explore neighborhood information, and research home values. The company’s brands include Zillow, Trulia, StreetEasy and HotPads. Zillow Group also provides services for real estate professionals, including advertising and customer-management tools, and offers mortgage services through Zillow Home Loans. Zillow launched in 2006, founded by Rich Barton and Lloyd Frink, and grew into a parent company with multiple real estate brands and services.