Zillow Group (NASDAQ:ZG) PT Lowered to $51.00

Zillow Group (NASDAQ:ZG) had its price target reduced by stock analysts at Craig Hallum from $65.00 to $51.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price suggests a potential upside of 27.28% from the company’s current price.

A number of other equities research analysts have also commented on ZG. DA Davidson restated a “buy” rating and set a $63.00 price objective on shares of Zillow Group in a report on Friday, April 5th. Piper Sandler lifted their target price on Zillow Group from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Bank of America downgraded Zillow Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $68.00 target price on shares of Zillow Group in a research report on Friday, April 12th. Finally, Stephens reissued an “overweight” rating and set a $79.00 price target on shares of Zillow Group in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.25.

Zillow Group Stock Up 2.2 %

Shares of NASDAQ:ZG opened at $40.07 on Thursday. The company has a 50 day moving average price of $47.44 and a two-hundred day moving average price of $47.55. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.24 and a current ratio of 3.32. The company has a market capitalization of $9.36 billion, a PE ratio of -58.07 and a beta of 1.87. Zillow Group has a 52 week low of $33.23 and a 52 week high of $59.23.

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

Insiders Place Their Bets

In related news, insider Dan Spaulding sold 5,114 shares of Zillow Group stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $55.45, for a total value of $283,571.30. Following the transaction, the insider now directly owns 43,180 shares of the company’s stock, valued at $2,394,331. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zillow Group news, insider Dan Spaulding sold 5,114 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $55.45, for a total transaction of $283,571.30. Following the completion of the transaction, the insider now owns 43,180 shares of the company’s stock, valued at $2,394,331. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Bradley D. Owens sold 966 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total transaction of $56,037.66. Following the completion of the transaction, the general counsel now directly owns 17,181 shares of the company’s stock, valued at approximately $996,669.81. The disclosure for this sale can be found here. Insiders have sold a total of 171,289 shares of company stock worth $9,642,508 in the last 90 days. Company insiders own 17.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ZG. Norges Bank acquired a new stake in Zillow Group in the 4th quarter valued at $102,096,000. Vanguard Group Inc. raised its stake in shares of Zillow Group by 27.4% during the 4th quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock worth $456,861,000 after purchasing an additional 1,730,731 shares during the period. Qube Research & Technologies Ltd increased its holdings in Zillow Group by 50.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock worth $42,397,000 after acquiring an additional 317,683 shares during the last quarter. UBS Group AG increased its stake in shares of Zillow Group by 73.0% in the fourth quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock worth $23,832,000 after purchasing an additional 177,265 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Zillow Group by 244.2% in the first quarter. Assenagon Asset Management S.A. now owns 171,881 shares of the technology company’s stock worth $8,226,000 after buying an additional 121,942 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

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.