Zillow Group (NASDAQ:ZG) Price Target Raised to $86.00 at Canaccord Genuity Group

Zillow Group (NASDAQ:ZG) had its price target upped by analysts at Canaccord Genuity Group from $64.00 to $86.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s price objective points to a potential upside of 6.78% from the stock’s previous close.

ZG has been the subject of several other research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $47.00 price target on shares of Zillow Group in a research note on Monday, October 7th. Evercore ISI raised their target price on shares of Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Susquehanna boosted their target price on shares of Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Royal Bank of Canada increased their price objective on shares of Zillow Group from $66.00 to $74.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, JMP Securities raised their price target on shares of Zillow Group from $62.00 to $82.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.94.

Zillow Group Price Performance

Shares of NASDAQ:ZG traded down $0.99 during midday trading on Monday, hitting $80.54. 45,044 shares of the stock were exchanged, compared to its average volume of 618,889. The company has a 50 day moving average price of $65.55 and a 200-day moving average price of $54.26. Zillow Group has a twelve month low of $38.06 and a twelve month high of $83.67. The stock has a market cap of $18.81 billion, a P/E ratio of -142.98 and a beta of 2.08. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The business had revenue of $581.00 million during the quarter, compared to the consensus estimate of $555.45 million. During the same period last year, the firm earned ($0.12) earnings per share. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, research analysts forecast that Zillow Group will post -0.33 earnings per share for the current year.

Insider Transactions at Zillow Group

In other news, insider Errol G. Samuelson sold 17,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $73.57, for a total value of $1,250,690.00. Following the completion of the sale, the insider now directly owns 22,739 shares in the company, valued at $1,672,908.23. This represents a 42.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jeremy Hofmann sold 7,175 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $85.36, for a total transaction of $612,458.00. Following the transaction, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at $8,481,540.32. This trade represents a 6.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,439 shares of company stock valued at $11,576,823 over the last three months. Company insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC purchased a new stake in shares of Zillow Group in the 3rd quarter valued at approximately $29,000. Signaturefd LLC increased its holdings in Zillow Group by 29.7% during the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after acquiring an additional 360 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Zillow Group by 86.7% in the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after buying an additional 561 shares during the last quarter. Pinpoint Asset Management Ltd purchased a new stake in Zillow Group in the third quarter valued at approximately $95,000. Finally, Maryland State Retirement & Pension System purchased a new stake in Zillow Group during the second quarter worth approximately $202,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.