Wells Fargo & Company Lowers Zillow Group (NASDAQ:ZG) Price Target to $61.00

Zillow Group (NASDAQ:ZG) had its price target reduced by research analysts at Wells Fargo & Company from $73.00 to $61.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 11.65% from the stock’s previous close.

Other research analysts also recently issued reports about the company. UBS Group reduced their target price on Zillow Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Citigroup reiterated a “market outperform” rating on shares of Zillow Group in a research report on Monday, January 12th. KeyCorp cut their price target on shares of Zillow Group from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday. Sanford C. Bernstein reduced their price target on shares of Zillow Group from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. Finally, Barclays set a $72.00 price target on shares of Zillow Group and gave the company an “equal weight” rating in a report on Thursday, January 29th. Sixteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Zillow Group has an average rating of “Moderate Buy” and a consensus price target of $84.63.

Zillow Group Trading Up 1.3%

Shares of NASDAQ ZG opened at $54.64 on Tuesday. The firm has a market capitalization of $13.22 billion, a price-to-earnings ratio of -392.06, a PEG ratio of 3.16 and a beta of 2.04. The business has a fifty day simple moving average of $66.86 and a 200 day simple moving average of $72.62. Zillow Group has a one year low of $53.37 and a one year high of $90.22.

Insiders Place Their Bets

In other Zillow Group news, insider Dan Spaulding sold 5,455 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $69.40, for a total value of $378,577.00. Following the transaction, the insider directly owned 50,342 shares of the company’s stock, valued at approximately $3,493,734.80. The trade was a 9.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeremy Wacksman sold 10,855 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $69.99, for a total value of $759,741.45. Following the completion of the sale, the chief executive officer directly owned 134,712 shares of the company’s stock, valued at $9,428,492.88. This trade represents a 7.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 64,801 shares of company stock valued at $4,566,277 over the last three months. Insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its holdings in shares of Zillow Group by 1.8% during the fourth quarter. Legal & General Group Plc now owns 80,496 shares of the technology company’s stock valued at $5,492,000 after purchasing an additional 1,421 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Zillow Group by 4,130.0% during the 4th quarter. Global Retirement Partners LLC now owns 846 shares of the technology company’s stock valued at $58,000 after buying an additional 826 shares during the period. Leonteq Securities AG purchased a new position in Zillow Group in the fourth quarter worth about $136,000. PNC Financial Services Group Inc. grew its position in Zillow Group by 10.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the technology company’s stock valued at $147,000 after buying an additional 198 shares during the period. Finally, L & S Advisors Inc raised its position in Zillow Group by 4.0% in the fourth quarter. L & S Advisors Inc now owns 26,376 shares of the technology company’s stock worth $1,800,000 after acquiring an additional 1,014 shares during the period. Institutional investors own 20.32% of the company’s stock.

About Zillow Group

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.