Zillow Group (NASDAQ:ZG) Price Target Raised to $84.00 at Bank of America

Zillow Group (NASDAQ:ZG) had its price objective increased by research analysts at Bank of America from $81.00 to $84.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Bank of America‘s target price points to a potential upside of 9.65% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Benchmark increased their price target on Zillow Group from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Susquehanna increased their price target on Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. The Goldman Sachs Group raised their target price on Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. JMP Securities raised their target price on Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a research report on Monday, December 16th. Finally, Piper Sandler lowered their target price on Zillow Group from $93.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Zillow Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.95.

Zillow Group Stock Down 8.6 %

ZG traded down $7.23 on Wednesday, reaching $76.61. The company’s stock had a trading volume of 1,489,822 shares, compared to its average volume of 483,407. The business’s 50 day moving average is $75.77 and its 200 day moving average is $65.66. Zillow Group has a 1 year low of $38.06 and a 1 year high of $86.58. The stock has a market cap of $17.89 billion, a price-to-earnings ratio of -134.40, a price-to-earnings-growth ratio of 15.65 and a beta of 2.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13.

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

Insider Transactions at Zillow Group

In related news, CFO Jeremy Hofmann sold 1,612 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.98, for a total transaction of $136,987.76. Following the completion of the sale, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. This trade represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO David A. Beitel sold 56,750 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $72.39, for a total value of $4,108,132.50. Following the sale, the chief technology officer now owns 92 shares of the company’s stock, valued at approximately $6,659.88. This represents a 99.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 142,730 shares of company stock valued at $10,896,034 in the last three months. 17.14% of the stock is currently owned by corporate insiders.

Institutional Trading of Zillow Group

Several hedge funds and other institutional investors have recently modified their holdings of ZG. GAMMA Investing LLC raised its holdings in shares of Zillow Group by 86.7% during the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after acquiring an additional 561 shares in the last quarter. Creative Planning raised its holdings in Zillow Group by 7.2% during the third quarter. Creative Planning now owns 6,537 shares of the technology company’s stock valued at $405,000 after buying an additional 439 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in Zillow Group by 4.8% during the third quarter. Vontobel Holding Ltd. now owns 16,407 shares of the technology company’s stock valued at $1,016,000 after buying an additional 750 shares in the last quarter. Private Advisor Group LLC bought a new position in Zillow Group during the third quarter valued at about $747,000. Finally, Avitas Wealth Management LLC bought a new position in Zillow Group during the third quarter valued at about $1,562,000. 20.32% of the stock is currently owned by hedge funds and other 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.