Zillow Group, Inc. (NASDAQ:ZG) Receives $72.71 Average Price Target from Analysts

Zillow Group, Inc. (NASDAQ:ZG) has been given a consensus rating of “Moderate Buy” by the eighteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $72.71.

A number of research analysts recently weighed in on ZG shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $47.00 price target on shares of Zillow Group in a research note on Monday, October 7th. UBS Group boosted their target price on Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Canaccord Genuity Group lifted their price objective on Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. DA Davidson upped their target price on Zillow Group from $71.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, JMP Securities lifted their price target on Zillow Group from $82.00 to $92.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th.

Zillow Group Price Performance

NASDAQ:ZG opened at $69.67 on Wednesday. The stock has a market capitalization of $16.27 billion, a PE ratio of -122.23 and a beta of 2.09. Zillow Group has a 52 week low of $38.06 and a 52 week high of $83.67. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average price is $73.29 and its 200-day moving average price is $60.40.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The business had revenue of $581.00 million during the quarter, compared to the consensus estimate of $555.45 million. During the same period in the prior year, the company posted ($0.12) EPS. The business’s quarterly revenue was up 17.1% on a year-over-year basis. As a group, equities analysts expect that Zillow Group will post -0.34 EPS for the current fiscal year.

Insider Activity at Zillow Group

In related news, CTO David A. Beitel sold 56,750 shares of Zillow Group stock in a transaction on Friday, November 15th. The stock was sold at an average price of $72.39, for a total value of $4,108,132.50. Following the completion of the transaction, the chief technology officer now directly owns 92 shares in the company, valued at approximately $6,659.88. This trade represents a 99.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dan Spaulding sold 4,565 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $86.22, for a total value of $393,594.30. Following the sale, the insider now owns 58,217 shares in the company, valued at approximately $5,019,469.74. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 139,689 shares of company stock worth $10,395,879 in the last three months. 17.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zillow Group

Institutional investors have recently modified their holdings of the company. Cynosure Group LLC purchased a new stake in shares of Zillow Group during the 3rd quarter worth approximately $12,248,000. Mirabella Financial Services LLP purchased a new position in Zillow Group during the 3rd quarter worth approximately $11,351,000. Philadelphia Financial Management of San Francisco LLC purchased a new stake in Zillow Group in the third quarter valued at approximately $9,813,000. Virtu Financial LLC boosted its holdings in shares of Zillow Group by 132.1% in the third quarter. Virtu Financial LLC now owns 208,773 shares of the technology company’s stock valued at $12,929,000 after acquiring an additional 118,830 shares during the period. Finally, CreativeOne Wealth LLC grew its position in shares of Zillow Group by 164.4% during the third quarter. CreativeOne Wealth LLC now owns 179,700 shares of the technology company’s stock worth $11,129,000 after acquiring an additional 111,743 shares during the last quarter. 20.32% of the stock is owned by hedge funds and other institutional investors.

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.