Zillow Group (NASDAQ:ZG) Given New $50.00 Price Target at UBS Group

Zillow Group (NASDAQ:ZG) had its price objective dropped by analysts at UBS Group from $75.00 to $50.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. UBS Group’s target price suggests a potential upside of 44.13% from the stock’s current price.

A number of other analysts also recently weighed in on the company. Royal Bank Of Canada decreased their price objective on Zillow Group to $70.00 and set an “outperform” rating for the company in a report on Wednesday, June 10th. KeyCorp reduced their price target on Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Sanford C. Bernstein raised Zillow Group from an “outperform” rating to a “buy” rating in a research note on Tuesday, May 26th. BTIG Research restated a “neutral” rating on shares of Zillow Group in a research report on Thursday, June 11th. Finally, Zacks Research upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.29.

Zillow Group Price Performance

NASDAQ ZG traded up $0.64 during trading hours on Friday, reaching $34.69. The company’s stock had a trading volume of 2,936,760 shares, compared to its average volume of 1,184,354. The firm has a fifty day simple moving average of $33.27 and a 200-day simple moving average of $42.71. The stock has a market cap of $7.94 billion, a P/E ratio of 138.76, a P/E/G ratio of 1.47 and a beta of 1.95. Zillow Group has a 52 week low of $29.03 and a 52 week high of $90.22.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.43 by $0.10. The business 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 firm’s revenue was up 18.4% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. On average, research analysts expect that Zillow Group will post 0.9 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jeremy Wacksman sold 9,072 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $36.54, for a total transaction of $331,490.88. Following the completion of the sale, the chief executive officer owned 153,699 shares in the company, valued at $5,616,161.46. The trade was a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dan Spaulding sold 3,078 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the transaction, the insider directly owned 49,696 shares in the company, valued at $1,858,630.40. The trade was a 5.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 42,910 shares of company stock worth $1,605,732 over the last 90 days. 29.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. M&T Bank Corp increased its position in shares of Zillow Group by 38,344.0% during the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after acquiring an additional 1,600,097 shares in the last quarter. Polianta Ltd bought a new position in Zillow Group in the 1st quarter valued at about $1,494,000. Independent Franchise Partners LLP boosted its stake in Zillow Group by 1.1% during the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after purchasing an additional 21,862 shares during the last quarter. Deltroit Asset Management UK LLP acquired a new position in Zillow Group during the 4th quarter valued at about $2,715,000. Finally, Norges Bank bought a new stake in Zillow Group during the 4th quarter worth approximately $152,050,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.