Zillow Group (NASDAQ:ZG) Given “Buy” Rating at DA Davidson

DA Davidson reissued their buy rating on shares of Zillow Group (NASDAQ:ZG) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $95.00 target price on the technology company’s stock.

Several other research firms have also weighed in on ZG. Canaccord Genuity Group increased their price target on Zillow Group from $76.00 to $84.00 and gave the company a “hold” rating in a report on Thursday, August 7th. Royal Bank Of Canada increased their price target on Zillow Group from $88.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Zelman & Associates upgraded Zillow Group to a “hold” rating in a report on Friday, August 8th. Wells Fargo & Company decreased their price target on Zillow Group from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Thursday, September 11th. Finally, JPMorgan Chase & Co. increased their price target on Zillow Group from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and an average price target of $86.92.

Zillow Group Stock Performance

NASDAQ ZG opened at $74.39 on Thursday. The company has a market capitalization of $18.02 billion, a P/E ratio of -286.12, a P/E/G ratio of 20.72 and a beta of 2.11. Zillow Group has a one year low of $55.08 and a one year high of $90.22. The stock has a 50 day moving average price of $80.11 and a 200-day moving average price of $72.13.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, August 6th. The technology company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The firm had revenue of $655.00 million for the quarter, compared to the consensus estimate of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 earnings per share. As a group, equities analysts predict that Zillow Group will post 0.32 EPS for the current fiscal year.

Insider Activity

In other news, insider Dan Spaulding sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $85.91, for a total transaction of $8,591,000.00. Following the transaction, the insider owned 68,889 shares in the company, valued at approximately $5,918,253.99. This trade represents a 59.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO David A. Beitel sold 22,510 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $90.97, for a total value of $2,047,734.70. Following the transaction, the chief technology officer owned 144,549 shares in the company, valued at approximately $13,149,622.53. This represents a 13.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 657,087 shares of company stock valued at $56,286,479. Company insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Institutional investors have recently made changes to their positions in the company. National Bank of Canada FI increased its stake in shares of Zillow Group by 79.4% during the first quarter. National Bank of Canada FI now owns 488 shares of the technology company’s stock valued at $33,000 after buying an additional 216 shares during the period. Salem Investment Counselors Inc. acquired a new stake in Zillow Group in the first quarter worth about $42,000. CX Institutional acquired a new stake in shares of Zillow Group during the first quarter worth about $46,000. PNC Financial Services Group Inc. lifted its holdings in shares of Zillow Group by 33.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company’s stock worth $75,000 after purchasing an additional 280 shares during the period. Finally, Lavaca Capital LLC lifted its holdings in shares of Zillow Group by 67.0% during the second quarter. Lavaca Capital LLC now owns 1,670 shares of the technology company’s stock worth $114,000 after purchasing an additional 670 shares during the period. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

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.