Citigroup Trims Zillow Group (NASDAQ:ZG) Target Price to $58.00

Zillow Group (NASDAQ:ZG) had its price objective decreased by Citigroup from $68.00 to $58.00 in a report published on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

ZG has been the topic of several other research reports. Benchmark reiterated a buy rating and set a $60.00 price target on shares of Zillow Group in a research note on Tuesday, April 30th. Bank of America lowered shares of Zillow Group from a buy rating to a neutral rating in a research report on Wednesday, January 10th. JMP Securities dropped their price objective on shares of Zillow Group from $68.00 to $62.00 and set a market outperform rating on the stock in a report on Thursday. Craig Hallum reduced their target price on shares of Zillow Group from $65.00 to $51.00 and set a buy rating for the company in a report on Thursday. Finally, Stephens reaffirmed an overweight rating and set a $79.00 price target on shares of Zillow Group in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Zillow Group currently has an average rating of Moderate Buy and an average price target of $57.40.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $40.07 on Thursday. The company has a 50 day moving average price of $47.44 and a 200 day moving average price of $47.59. The firm has a market capitalization of $9.35 billion, a P/E ratio of -58.07 and a beta of 1.87. The company has a quick ratio of 3.24, a current ratio of 3.32 and a debt-to-equity ratio of 0.21. Zillow Group has a 52 week low of $33.23 and a 52 week high of $59.23.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.06. The business had revenue of $474.00 million during the quarter, compared to analysts’ expectations of $450.75 million. Zillow Group had a negative net margin of 7.93% and a negative return on equity of 2.28%. Sell-side analysts expect that Zillow Group will post -0.18 EPS for the current year.

Insider Activity

In other Zillow Group news, Director Amy Bohutinsky sold 93,750 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the completion of the transaction, the director now directly owns 5,652 shares in the company, valued at $320,411.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Errol G. Samuelson sold 4,219 shares of Zillow Group stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total value of $209,262.40. Following the sale, the insider now directly owns 168,863 shares of the company’s stock, valued at $8,375,604.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy Bohutinsky sold 93,750 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $56.69, for a total value of $5,314,687.50. Following the completion of the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at $320,411.88. The disclosure for this sale can be found here. Insiders sold 171,289 shares of company stock worth $9,642,508 over the last three months. 17.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new stake in shares of Zillow Group in the fourth quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV purchased a new stake in Zillow Group in the 4th quarter valued at $31,000. Fidelis Capital Partners LLC acquired a new stake in shares of Zillow Group in the 1st quarter worth $32,000. Quadrant Capital Group LLC raised its holdings in shares of Zillow Group by 45.1% during the 4th quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock worth $43,000 after acquiring an additional 237 shares during the period. Finally, CWM LLC raised its holdings in shares of Zillow Group by 100.0% during the 3rd quarter. CWM LLC now owns 1,222 shares of the technology company’s stock worth $55,000 after acquiring an additional 611 shares during the period. Institutional investors and hedge funds 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.