Zillow Group (NASDAQ:ZG) Price Target Lowered to $68.00 at Citigroup

Zillow Group (NASDAQ:ZG) had its price target reduced by stock analysts at Citigroup from $78.00 to $68.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective would indicate a potential upside of 65.61% from the stock’s previous close.

Several other equities analysts also recently weighed in on the stock. BNP Paribas Exane assumed coverage on shares of Zillow Group in a research note on Wednesday, January 14th. They issued an “outperform” rating and a $85.00 price target on the stock. Zacks Research raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 10th. UBS Group reduced their target price on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. The Goldman Sachs Group set a $53.00 target price on shares of Zillow Group in a research note on Thursday. Finally, Cantor Fitzgerald reduced their target price on shares of Zillow Group from $56.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Zillow Group has an average rating of “Moderate Buy” and a consensus target price of $71.24.

Zillow Group Stock Performance

Shares of NASDAQ:ZG traded down $0.88 during midday trading on Monday, hitting $41.06. The company’s stock had a trading volume of 243,565 shares, compared to its average volume of 1,090,096. The business’s 50 day simple moving average is $43.69 and its 200 day simple moving average is $57.86. The company has a market cap of $9.85 billion, a P/E ratio of 164.55, a price-to-earnings-growth ratio of 2.05 and a beta of 2.04. Zillow Group has a 12-month low of $39.14 and a 12-month high of $90.22.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period last year, the firm posted $0.41 earnings per share. On average, sell-side analysts predict that Zillow Group will post 0.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jeremy Hofmann sold 7,786 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total value of $340,481.78. Following the sale, the chief financial officer directly owned 57,487 shares of the company’s stock, valued at approximately $2,513,906.51. The trade was a 11.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dan Spaulding sold 5,361 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $43.95, for a total transaction of $235,615.95. Following the completion of the sale, the insider directly owned 41,080 shares in the company, valued at $1,805,466. This trade represents a 11.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 60,801 shares of company stock worth $2,683,986. Insiders own 29.88% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently made changes to their positions in ZG. AQR Capital Management LLC raised its stake in shares of Zillow Group by 40.5% in the 1st quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock valued at $862,000 after acquiring an additional 3,717 shares during the period. Millennium Management LLC increased its stake in Zillow Group by 110.8% during the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock worth $19,456,000 after buying an additional 152,955 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Zillow Group by 7.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock worth $5,878,000 after buying an additional 5,737 shares during the period. JPMorgan Chase & Co. increased its stake in Zillow Group by 5.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company’s stock worth $1,445,000 after buying an additional 1,150 shares during the period. Finally, Prudential Financial Inc. increased its stake in Zillow Group by 16.3% during the 2nd quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company’s stock worth $543,000 after buying an additional 1,110 shares during the period. 20.32% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Company Profile

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.