Zillow Group (NASDAQ:ZG) Given Outperform Rating at Royal Bank of Canada

Zillow Group (NASDAQ:ZG)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They presently have a $88.00 price target on the technology company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 18.02% from the stock’s current price.

A number of other research firms also recently commented on ZG. Stephens reaffirmed an “overweight” rating and set a $73.00 target price on shares of Zillow Group in a report on Wednesday. JMP Securities raised their price objective on Zillow Group from $82.00 to $92.00 and gave the stock a “market outperform” rating in a research note on Monday, December 16th. Susquehanna boosted their target price on shares of Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Baird R W raised shares of Zillow Group to a “hold” rating in a report on Friday, January 31st. Finally, KeyCorp raised shares of Zillow Group from a “sector weight” rating to an “overweight” rating and set a $100.00 price target for the company in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $80.26.

Zillow Group Stock Down 11.1 %

NASDAQ:ZG traded down $9.28 during trading hours on Wednesday, hitting $74.56. The stock had a trading volume of 1,228,957 shares, compared to its average volume of 474,922. The company has a market cap of $17.41 billion, a PE ratio of -130.57, a price-to-earnings-growth ratio of 15.65 and a beta of 2.09. The business has a 50 day simple moving average of $75.77 and a two-hundred day simple moving average of $65.66. Zillow Group has a 1-year low of $38.06 and a 1-year high of $86.58. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. Analysts predict that Zillow Group will post -0.42 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Jeremy Hofmann sold 1,612 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.98, for a total value of $136,987.76. Following the transaction, the chief financial officer now owns 99,362 shares in the company, valued at approximately $8,443,782.76. This represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Dan Spaulding sold 4,565 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $86.22, for a total transaction of $393,594.30. Following the completion of the sale, the insider now directly owns 58,217 shares of the company’s stock, valued at $5,019,469.74. This represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 142,730 shares of company stock worth $10,896,034. 17.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ZG. Norges Bank bought a new position in shares of Zillow Group during the 4th quarter worth about $165,326,000. Virtu Financial LLC boosted its stake in Zillow Group by 101.3% during the fourth quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock worth $29,775,000 after buying an additional 211,482 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Zillow Group in the 4th quarter valued at $14,916,000. Cynosure Group LLC acquired a new position in shares of Zillow Group in the 3rd quarter valued at $12,248,000. Finally, Mirabella Financial Services LLP bought a new position in shares of Zillow Group during the 3rd quarter worth about $11,351,000. 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.