Zillow Group (NASDAQ:ZG) Price Target Cut to $60.00 by Analysts at Royal Bank of Canada

Zillow Group (NASDAQ:ZG) had its price target lowered by equities research analysts at Royal Bank of Canada from $66.00 to $60.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 53.49% from the company’s current price.

ZG has been the topic of a number of other research reports. Piper Sandler upped their target price on shares of Zillow Group from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. DA Davidson reiterated a “buy” rating and issued a $63.00 target price on shares of Zillow Group in a report on Friday, April 5th. Canaccord Genuity Group lowered their price objective on shares of Zillow Group from $58.00 to $50.00 and set a “hold” rating for the company in a research report on Monday. JMP Securities reiterated a “market outperform” rating and issued a $68.00 price target on shares of Zillow Group in a research note on Friday, April 12th. Finally, Stephens reiterated an “overweight” rating and issued a $79.00 price objective on shares of Zillow Group in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group has an average rating of “Hold” and an average price target of $58.71.

Zillow Group Price Performance

Shares of NASDAQ ZG traded down $2.35 during mid-day trading on Thursday, reaching $39.09. 747,648 shares of the company traded hands, compared to its average volume of 686,022. Zillow Group has a fifty-two week low of $33.23 and a fifty-two week high of $59.23. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.24 and a quick ratio of 3.24. The firm has a market cap of $9.13 billion, a PE ratio of -57.51 and a beta of 1.87. The stock has a fifty day simple moving average of $47.91 and a 200-day simple moving average of $47.61.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Tuesday, February 13th. The technology company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.06. Zillow Group had a negative net margin of 8.12% and a negative return on equity of 2.32%. The firm had revenue of $474.00 million for the quarter, compared to analysts’ expectations of $450.75 million. Equities research analysts anticipate that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Activity at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 4,219 shares of the company’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 sale, the insider now directly owns 168,863 shares of the company’s stock, valued at $8,375,604.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Errol G. Samuelson sold 4,219 shares of the stock in a transaction dated Tuesday, March 26th. The shares were 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 legal filing with the SEC, which is available at this link. Also, CAO Jennifer Rock sold 7,352 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $57.29, for a total transaction of $421,196.08. Following the completion of the sale, the chief accounting officer now directly owns 56,384 shares in the company, valued at $3,230,239.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 171,289 shares of company stock worth $9,642,508. 17.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently modified their holdings of ZG. Treasurer of the State of North Carolina raised its stake in Zillow Group by 0.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 24,511 shares of the technology company’s stock valued at $1,390,000 after purchasing an additional 230 shares in the last quarter. Quadrant Capital Group LLC grew its position in Zillow Group by 45.1% during the fourth quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock valued at $43,000 after acquiring an additional 237 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Zillow Group by 1.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 22,100 shares of the technology company’s stock valued at $1,254,000 after acquiring an additional 250 shares during the last quarter. Ieq Capital LLC grew its position in Zillow Group by 2.3% during the third quarter. Ieq Capital LLC now owns 12,955 shares of the technology company’s stock valued at $580,000 after acquiring an additional 286 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in Zillow Group by 2.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,542 shares of the technology company’s stock valued at $882,000 after acquiring an additional 360 shares during the last quarter. 20.32% of the stock is owned by hedge funds and other institutional investors.

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.