Zillow Group (NASDAQ:ZG) PT Lowered to $60.00

Zillow Group (NASDAQ:ZG) had its target price decreased by Royal Bank of Canada from $66.00 to $60.00 in a research note published on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Several other research firms have also weighed in on ZG. Benchmark restated a buy rating and issued a $60.00 target price on shares of Zillow Group in a report on Tuesday, April 30th. Piper Sandler upped their price objective 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. Susquehanna raised their target price on shares of Zillow Group from $36.00 to $60.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Bank of America lowered shares of Zillow Group from a buy rating to a neutral rating in a research report on Wednesday, January 10th. Finally, Canaccord Genuity Group cut their price objective on Zillow Group from $58.00 to $50.00 and set a hold rating for the company in a research report on Monday, April 29th. One 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. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $57.40.

Zillow Group Stock Performance

Shares of ZG opened at $40.07 on Thursday. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of -58.07 and a beta of 1.87. The company’s fifty day moving average is $47.44 and its 200-day moving average is $47.65. 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 12 month low of $33.23 and a 12 month high of $59.23.

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

Insider Activity at Zillow Group

In other news, insider Errol G. Samuelson sold 4,219 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Jeremy Hofmann sold 7,813 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $54.76, for a total value of $427,839.88. Following the sale, the chief financial officer now owns 137,347 shares of the company’s stock, valued at approximately $7,521,121.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Errol G. Samuelson sold 4,219 shares of the stock in a transaction 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 transaction, the insider now owns 168,863 shares of the company’s stock, valued at $8,375,604.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,289 shares of company stock worth $9,642,508. 17.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Treasurer of the State of North Carolina raised its position in shares of Zillow Group by 0.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 24,511 shares of the technology company’s stock worth $1,390,000 after acquiring an additional 230 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in 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 purchasing an additional 237 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Zillow Group by 1.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 22,100 shares of the technology company’s stock valued at $1,254,000 after purchasing an additional 250 shares during the period. Ieq Capital LLC boosted its stake in shares of Zillow Group by 2.3% in the 3rd quarter. Ieq Capital LLC now owns 12,955 shares of the technology company’s stock valued at $580,000 after purchasing an additional 286 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of Zillow Group by 2.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,542 shares of the technology company’s stock worth $882,000 after buying an additional 360 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.