JMP Securities Trims Zillow Group (NASDAQ:ZG) Target Price to $62.00

Zillow Group (NASDAQ:ZG) had its price objective trimmed by JMP Securities from $68.00 to $62.00 in a research note released on Thursday, Benzinga reports. The firm currently has a market outperform rating on the technology company’s stock.

ZG has been the topic of a number of other reports. Bank of America downgraded shares of Zillow Group from a buy rating to a neutral rating in a research report on Wednesday, January 10th. Craig Hallum cut their price objective on shares of Zillow Group from $65.00 to $51.00 and set a buy rating on the stock in a report on Thursday. Piper Sandler lifted their target price on shares of Zillow Group from $70.00 to $72.00 and gave the stock an overweight rating in a report on Wednesday, February 14th. Stephens reissued an overweight rating and issued a $79.00 price target on shares of Zillow Group in a research note on Wednesday, February 14th. Finally, Susquehanna lifted their price objective on Zillow Group from $36.00 to $60.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $57.40.

Zillow Group Price Performance

Shares of ZG stock opened at $40.07 on Thursday. The company has a current ratio of 3.32, a quick ratio of 3.24 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $9.35 billion, a price-to-earnings ratio of -58.07 and a beta of 1.87. The firm’s 50 day moving average is $47.44 and its 200-day moving average is $47.59. Zillow Group has a 1 year low of $33.23 and a 1 year high of $59.23.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.06. The firm had revenue of $474.00 million for the quarter, compared to analyst estimates of $450.75 million. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. Sell-side analysts forecast that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Activity

In related news, insider Errol G. Samuelson sold 4,219 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total value of $209,262.40. Following the completion of the transaction, the insider now directly owns 168,863 shares of the company’s stock, valued at approximately $8,375,604.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 owns 168,863 shares of the company’s stock, valued at approximately $8,375,604.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Bradley D. Owens sold 966 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total value of $56,037.66. Following the completion of the sale, the general counsel now owns 17,181 shares in the company, valued at approximately $996,669.81. The disclosure for this sale can be found here. Insiders sold 171,289 shares of company stock worth $9,642,508 over the last quarter. 17.14% of the stock is currently owned by company 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. Vanguard Group Inc. grew its holdings in shares of Zillow Group by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock valued at $456,861,000 after acquiring an additional 1,730,731 shares in the last quarter. Norges Bank bought a new stake in Zillow Group during the fourth quarter worth about $102,096,000. Qube Research & Technologies Ltd boosted its position in Zillow Group by 50.5% during the third quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock valued at $42,397,000 after purchasing an additional 317,683 shares during the last quarter. UBS Group AG grew its stake in Zillow Group by 73.0% in the fourth quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock valued at $23,832,000 after purchasing an additional 177,265 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of Zillow Group by 1.7% during the 1st quarter. Raymond James & Associates now owns 180,407 shares of the technology company’s stock worth $8,634,000 after purchasing an additional 2,999 shares during the last quarter. 20.32% of the stock is owned by 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.