Citizens Jmp Lowers Zillow Group (NASDAQ:ZG) Price Target to $85.00

Zillow Group (NASDAQ:ZG) had its price target reduced by equities research analysts at Citizens Jmp from $90.00 to $85.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “market outperform” rating on the technology company’s stock. Citizens Jmp’s target price suggests a potential upside of 26.56% from the company’s current price.

Several other research analysts have also weighed in on ZG. UBS Group dropped their target price on Zillow Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $87.00 price objective on shares of Zillow Group in a research report on Thursday, September 25th. Gordon Haskett upgraded shares of Zillow Group from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Friday, October 3rd. Cantor Fitzgerald decreased their target price on shares of Zillow Group from $74.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Piper Sandler restated an “overweight” rating and set a $85.00 price target (down previously from $94.00) on shares of Zillow Group in a report on Friday, October 31st. Fifteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Zillow Group presently has an average rating of “Hold” and a consensus target price of $85.50.

Zillow Group Stock Performance

Zillow Group stock opened at $67.16 on Monday. Zillow Group has a twelve month low of $56.63 and a twelve month high of $90.22. The firm has a market cap of $16.26 billion, a PE ratio of -479.68, a P/E/G ratio of 3.72 and a beta of 2.03. The firm’s 50 day moving average price is $69.52 and its two-hundred day moving average price is $73.98.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.02). Zillow Group had a negative net margin of 1.29% and a negative return on equity of 0.56%. The company had revenue of $676.00 million for the quarter, compared to analysts’ expectations of $670.28 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis. Equities analysts anticipate that Zillow Group will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Dan Spaulding sold 5,455 shares of Zillow Group stock in a transaction on Friday, November 14th. The shares were sold at an average price of $69.40, for a total value of $378,577.00. Following the transaction, the insider owned 50,342 shares in the company, valued at $3,493,734.80. This trade represents a 9.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeremy Wacksman sold 10,855 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $69.99, for a total transaction of $759,741.45. Following the sale, the chief executive officer owned 134,712 shares of the company’s stock, valued at $9,428,492.88. This trade represents a 7.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 67,511 shares of company stock valued at $4,766,357. 17.14% of the stock is owned by corporate insiders.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its holdings in shares of Zillow Group by 78.9% during the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after buying an additional 187 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Zillow Group by 23.1% in the third quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock worth $80,000 after acquiring an additional 194 shares during the last quarter. Group One Trading LLC increased its position in Zillow Group by 884.7% during the third quarter. Group One Trading LLC now owns 1,477 shares of the technology company’s stock worth $110,000 after acquiring an additional 1,327 shares during the period. Lavaca Capital LLC raised its stake in Zillow Group by 67.0% during the 2nd quarter. Lavaca Capital LLC now owns 1,670 shares of the technology company’s stock valued at $114,000 after purchasing an additional 670 shares during the last quarter. Finally, Assetmark Inc. raised its stake in Zillow Group by 207.0% during the 2nd quarter. Assetmark Inc. now owns 1,980 shares of the technology company’s stock valued at $136,000 after purchasing an additional 1,335 shares during the last quarter. 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.