Brokerages Set Zillow Group, Inc. (NASDAQ:ZG) Price Target at $59.82

Shares of Zillow Group, Inc. (NASDAQ:ZG) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $60.94.

A number of analysts have recently commented on ZG shares. Evercore ISI lifted their target price on Zillow Group from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Susquehanna boosted their price objective on Zillow Group from $42.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Cantor Fitzgerald restated a “neutral” rating and set a $47.00 target price on shares of Zillow Group in a research report on Monday, September 23rd. DA Davidson upped their price target on shares of Zillow Group from $52.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $50.00 to $80.00 in a research report on Monday, September 16th.

Zillow Group Stock Down 0.1 %

Shares of NASDAQ:ZG opened at $63.48 on Monday. Zillow Group has a fifty-two week low of $33.23 and a fifty-two week high of $66.75. The firm’s 50 day moving average price is $53.17 and its 200 day moving average price is $47.67. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The stock has a market cap of $14.99 billion, a price-to-earnings ratio of -92.00 and a beta of 2.00.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. The company had revenue of $572.00 million for the quarter, compared to analysts’ expectations of $538.36 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. Zillow Group’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm earned ($0.05) earnings per share. As a group, equities research analysts predict that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Jennifer Rock sold 4,050 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total value of $199,381.50. Following the sale, the chief accounting officer now directly owns 79,694 shares in the company, valued at $3,923,335.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the transaction, the director now directly owns 5,652 shares in the company, valued at approximately $379,983.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jennifer Rock sold 4,050 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total transaction of $199,381.50. Following the completion of the sale, the chief accounting officer now owns 79,694 shares of the company’s stock, valued at $3,923,335.62. The disclosure for this sale can be found here. Insiders sold 221,999 shares of company stock worth $11,780,363 in the last ninety days. Insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently modified their holdings of the company. Fidelis Capital Partners LLC purchased a new position in shares of Zillow Group in the 1st quarter valued at $32,000. Quadrant Capital Group LLC grew its stake in shares of Zillow Group by 45.1% during the fourth quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock valued at $43,000 after acquiring an additional 237 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Zillow Group during the first quarter worth about $53,000. Signaturefd LLC lifted its stake in shares of Zillow Group by 29.7% in the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after acquiring an additional 360 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in Zillow Group in the first quarter valued at about $84,000. 20.32% of the stock is currently 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.