Zillow Group (NASDAQ:ZG) Given New $45.00 Price Target at Royal Bank Of Canada

Zillow Group (NASDAQ:ZG) had its price objective cut by research analysts at Royal Bank Of Canada from $55.00 to $45.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank Of Canada‘s price objective points to a potential upside of 40.82% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. DA Davidson lowered their target price on Zillow Group from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. UBS Group decreased their price objective on shares of Zillow Group from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Sanford C. Bernstein lowered shares of Zillow Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $50.00 to $38.00 in a research report on Thursday, August 6th. Wells Fargo & Company set a $21.00 target price on shares of Zillow Group in a research note on Monday, October 12th. Finally, Citigroup reduced their target price on shares of Zillow Group from $68.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $50.33.

Zillow Group Trading Down 2.9%

Shares of ZG traded down $0.94 during trading hours on Tuesday, reaching $31.95. 87,701 shares of the stock traded hands, compared to its average volume of 1,148,513. Zillow Group has a 52 week low of $27.25 and a 52 week high of $74.80. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 145.13, a PEG ratio of 1.35 and a beta of 2.02. The stock has a fifty day simple moving average of $32.00 and a 200 day simple moving average of $39.21.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.25 million. During the same period in the prior year, the firm posted $0.40 EPS. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. Analysts predict that Zillow Group will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jeremy Hofmann sold 5,661 shares of the business’s 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 sale, the chief financial officer directly owned 59,144 shares in the company, valued at approximately $2,021,541.92. The trade was a 8.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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. Also, insider Dan Spaulding sold 3,169 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $35.37, for a total value of $112,087.53. Following the completion of the sale, the insider owned 44,561 shares in the company, valued at $1,576,122.57. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 38,539 shares of company stock worth $1,323,800 in the last quarter. 29.88% of the stock is currently owned by company insiders.

Institutional Trading of Zillow Group

A number of institutional investors have recently modified their holdings of ZG. Technology Crossover Management XI Ltd. bought a new position in Zillow Group in the 2nd quarter worth approximately $73,694,895. Kahn Brothers Group Inc. bought a new stake in Zillow Group during the 2nd quarter valued at $37,265,000. Assenagon Asset Management S.A. raised its holdings in Zillow Group by 724.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 406,398 shares of the technology company’s stock valued at $11,257,000 after acquiring an additional 357,104 shares during the period. Hsbc Holdings PLC lifted its position in shares of Zillow Group by 1,616.8% during the first quarter. Hsbc Holdings PLC now owns 135,352 shares of the technology company’s stock worth $5,602,000 after acquiring an additional 127,468 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of Zillow Group by 106.6% during the first quarter. Quantinno Capital Management LP now owns 176,052 shares of the technology company’s stock worth $7,287,000 after acquiring an additional 90,858 shares in the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

About Zillow Group

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers, real estate professionals, and other housing industry participants. Its services are designed to help people search for homes, understand property values, connect with agents, and manage transactions throughout the residential real estate process.

The company’s portfolio includes Zillow, Trulia, StreetEasy, HotPads, and ShowingTime+. Zillow provides home listings, estimated property values, rental information, agent connections, mortgage resources, and other housing-related tools.