Zillow Group (NASDAQ:ZG) PT Lowered to $62.00

Zillow Group (NASDAQ:ZG) had its target price reduced by JMP Securities from $68.00 to $62.00 in a research note released on Thursday morning, Benzinga reports. They currently have a market outperform rating on the technology company’s stock.

ZG has been the subject of several other reports. Benchmark reissued a buy rating and issued a $60.00 price target on shares of Zillow Group in a research note on Tuesday, April 30th. DA Davidson reissued a buy rating and issued a $63.00 target price on shares of Zillow Group in a research note on Friday, April 5th. Canaccord Genuity Group dropped their target price on Zillow Group from $58.00 to $50.00 and set a hold rating for the company in a report on Monday, April 29th. Stephens reaffirmed an overweight rating and issued a $79.00 price target on shares of Zillow Group in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada dropped their price objective on Zillow Group from $66.00 to $60.00 and set an outperform rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zillow Group currently has a consensus rating of Moderate Buy and a consensus price target of $57.40.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $40.07 on Thursday. The stock’s 50-day moving average is $47.44 and its 200 day moving average is $47.65. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of -58.07 and a beta of 1.87. Zillow Group has a 1-year low of $33.23 and a 1-year high of $59.23. The company has a current ratio of 3.32, a quick ratio of 3.24 and a debt-to-equity ratio of 0.21.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.06. The firm had revenue of $474.00 million for the quarter, compared to the consensus estimate of $450.75 million. Zillow Group had a negative net margin of 7.93% and a negative return on equity of 2.28%. On average, sell-side analysts anticipate that Zillow Group will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Jennifer Rock sold 7,352 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $57.29, for a total value of $421,196.08. Following the completion of the transaction, the chief accounting officer now directly owns 56,384 shares of the company’s stock, valued at $3,230,239.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Zillow Group news, CAO Jennifer Rock sold 7,352 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $57.29, for a total transaction of $421,196.08. Following the transaction, the chief accounting officer now owns 56,384 shares in the company, valued at approximately $3,230,239.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Errol G. Samuelson sold 4,219 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total value of $209,262.40. Following the completion of the transaction, the insider now directly owns 168,863 shares of the company’s stock, valued at approximately $8,375,604.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 171,289 shares of company stock worth $9,642,508. 17.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Zillow Group in the 4th quarter worth about $102,096,000. Vanguard Group Inc. increased its stake in shares of Zillow Group by 27.4% during the fourth quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock valued at $456,861,000 after purchasing an additional 1,730,731 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Zillow Group by 50.5% during the third quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock valued at $42,397,000 after purchasing an additional 317,683 shares in the last quarter. UBS Group AG lifted its holdings in shares of Zillow Group by 73.0% during the fourth quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock valued at $23,832,000 after purchasing an additional 177,265 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Zillow Group by 244.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 171,881 shares of the technology company’s stock worth $8,226,000 after purchasing an additional 121,942 shares in the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

About Zillow Group

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.