Zillow Group, Inc. (NASDAQ:Z) Receives $82.00 Average Price Target from Analysts

Shares of Zillow Group, Inc. (NASDAQ:Z) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $82.00.

Z has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of Zillow Group from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Wedbush reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Zillow Group in a research note on Wednesday, February 12th. Baird R W raised shares of Zillow Group to a “hold” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zillow Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 12th.

Zillow Group Price Performance

Z stock opened at $76.66 on Monday. The company’s 50 day simple moving average is $78.28 and its 200-day simple moving average is $70.39. The firm has a market capitalization of $18.59 billion, a PE ratio of -163.11, a P/E/G ratio of 9.24 and a beta of 2.03. Zillow Group has a 12 month low of $38.45 and a 12 month high of $89.39.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. As a group, sell-side analysts anticipate that Zillow Group will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Jennifer Rock sold 5,796 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $75.50, for a total value of $437,598.00. Following the completion of the transaction, the chief accounting officer now directly owns 51,370 shares in the company, valued at $3,878,435. This trade represents a 10.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeremy Hofmann sold 23,388 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the completion of the transaction, the chief financial officer now owns 99,362 shares of the company’s stock, valued at $8,443,782.76. This trade represents a 19.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,098 shares of company stock worth $3,611,337. Insiders own 23.76% of the company’s stock.

Institutional Trading of Zillow Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. abrdn plc lifted its position in shares of Zillow Group by 98.0% in the 3rd quarter. abrdn plc now owns 48,990 shares of the financial services provider’s stock valued at $3,128,000 after acquiring an additional 24,247 shares in the last quarter. IVY Lane Capital Management LLC lifted its position in shares of Zillow Group by 35.0% in the 3rd quarter. IVY Lane Capital Management LLC now owns 135,000 shares of the financial services provider’s stock valued at $8,620,000 after acquiring an additional 35,000 shares in the last quarter. Donoghue Forlines LLC purchased a new stake in shares of Zillow Group in the 4th quarter valued at approximately $1,932,000. Thrivent Financial for Lutherans purchased a new stake in shares of Zillow Group in the 3rd quarter valued at approximately $6,267,000. Finally, Friedenthal Financial purchased a new stake in shares of Zillow Group in the 4th quarter valued at approximately $754,000. 71.01% of the stock is owned by institutional investors and hedge funds.

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.