Robert W. Baird Cuts Zillow Group (NASDAQ:ZG) Price Target to $55.00

Zillow Group (NASDAQ:ZG) had its price target reduced by Robert W. Baird from $67.00 to $55.00 in a report released on Wednesday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the technology company’s stock.

ZG has been the subject of several other reports. Piper Sandler reiterated an “overweight” rating and set a $70.00 target price (down from $85.00) on shares of Zillow Group in a research note on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. UBS Group set a $80.00 price objective on shares of Zillow Group in a research report on Wednesday, February 11th. DA Davidson set a $75.00 price objective on shares of Zillow Group in a report on Thursday, February 12th. Finally, Citizens Jmp dropped their price objective on shares of Zillow Group from $90.00 to $85.00 and set a “market outperform” rating on the stock in a research report on Monday, January 12th. Fourteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.50.

Zillow Group Stock Performance

Shares of ZG stock opened at $43.53 on Wednesday. Zillow Group has a 52-week low of $40.69 and a 52-week high of $90.22. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 483.72, a PEG ratio of 2.51 and a beta of 2.05. The firm’s 50-day moving average is $52.68 and its 200-day moving average is $65.66.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The business had revenue of $654.00 million for the quarter, compared to the consensus estimate of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 EPS. Sell-side analysts predict that Zillow Group will post 0.32 EPS for the current fiscal year.

Insider Activity

In other news, CFO Jeremy Hofmann sold 7,786 shares of Zillow Group stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.73, for a total transaction of $340,481.78. Following the completion of the sale, the chief financial officer owned 57,487 shares of the company’s stock, valued at approximately $2,513,906.51. This trade represents a 11.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO David A. Beitel sold 3,966 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $44.22, for a total transaction of $175,376.52. Following the completion of the sale, the chief technology officer directly owned 136,690 shares of the company’s stock, valued at approximately $6,044,431.80. The trade was a 2.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 60,801 shares of company stock worth $2,683,986. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Several hedge funds and other institutional investors have recently bought and sold shares of ZG. DoubleLine ETF Adviser LP grew its position in shares of Zillow Group by 4.9% during the 3rd quarter. DoubleLine ETF Adviser LP now owns 3,214 shares of the technology company’s stock worth $239,000 after purchasing an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Zillow Group by 4.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,657 shares of the technology company’s stock valued at $256,000 after buying an additional 156 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Zillow Group by 10.4% in the fourth quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock valued at $117,000 after buying an additional 161 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Zillow Group by 78.9% in the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock valued at $33,000 after buying an additional 187 shares during the period. Finally, Jones Financial Companies Lllp grew its position in Zillow Group by 23.1% during the third quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock worth $80,000 after buying an additional 194 shares in 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.