Zillow Group’s (ZG) “Outperform” Rating Reaffirmed at Royal Bank Of Canada

Zillow Group (NASDAQ:ZG)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank Of Canada in a research note issued on Friday, Benzinga reports. They presently have a $55.00 price objective on the technology company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 69.89% from the company’s current price.

A number of other analysts have also recently weighed in on ZG. Citizens Jmp reduced their price objective on shares of Zillow Group from $75.00 to $46.00 and set a “market outperform” rating for the company in a research note on Friday, August 7th. Piper Sandler lowered their target price on shares of Zillow Group from $55.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Canaccord Genuity Group dropped their target price on shares of Zillow Group from $52.00 to $40.00 and set a “hold” rating on the stock in a report on Thursday, August 6th. Benchmark reissued a “buy” rating on shares of Zillow Group in a research report on Monday, August 24th. Finally, The Goldman Sachs Group decreased their price target on shares of Zillow Group from $53.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, June 12th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $53.14.

Zillow Group Stock Up 1.5%

Shares of NASDAQ:ZG traded up $0.49 on Friday, reaching $32.37. The company had a trading volume of 47,023 shares, compared to its average volume of 1,161,091. The stock has a market capitalization of $7.28 billion, a P/E ratio of 147.17, a P/E/G ratio of 1.43 and a beta of 1.97. The stock has a 50-day moving average price of $34.23 and a 200 day moving average price of $37.89. Zillow Group has a twelve month low of $29.03 and a twelve month high of $90.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The business had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.25 million. During the same quarter in the prior year, the firm posted $0.40 EPS. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, sell-side analysts predict that Zillow Group will post 0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, Director Erik C. Blachford sold 792 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total value of $28,282.32. Following the transaction, the director owned 34,160 shares of the company’s stock, valued at approximately $1,219,853.60. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeremy Wacksman sold 9,339 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $319,207.02. Following the sale, the chief executive officer owned 138,574 shares in the company, valued at $4,736,459.32. The trade was a 6.31% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 38,539 shares of company stock worth $1,323,800 over the last 90 days. Company insiders own 29.88% of the company’s stock.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ZG. PNC Financial Services Group Inc. raised its holdings in shares of Zillow Group by 10.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the technology company’s stock worth $147,000 after buying an additional 198 shares in the last quarter. Lido Advisors LLC lifted its position in shares of Zillow Group by 0.4% during the 4th quarter. Lido Advisors LLC now owns 50,846 shares of the technology company’s stock worth $3,627,000 after buying an additional 215 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in Zillow Group by 1.4% in the second quarter. Royal London Asset Management Ltd. now owns 18,217 shares of the technology company’s stock valued at $1,248,000 after buying an additional 247 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Zillow Group by 8.5% in the third quarter. Mackenzie Financial Corp now owns 3,301 shares of the technology company’s stock valued at $246,000 after buying an additional 258 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in Zillow Group by 9.2% in the second quarter. California State Teachers Retirement System now owns 3,147 shares of the technology company’s stock valued at $216,000 after acquiring an additional 264 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

About Zillow Group

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers and real estate professionals. Its flagship Zillow platform provides property listings, home-value estimates, neighborhood information, mortgage resources and tools that help people buy, sell, rent and finance homes.

The company’s portfolio also includes Trulia, StreetEasy, HotPads and Zillow Rentals, which serve home shoppers and renters in markets across the United States.