Zillow Group (NASDAQ:ZG) Given “Buy” Rating at DA Davidson

DA Davidson reissued their buy rating on shares of Zillow Group (NASDAQ:ZG) in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a $52.00 price target on the technology company’s stock.

ZG has been the topic of a number of other reports. Royal Bank of Canada decreased their price objective on Zillow Group from $66.00 to $60.00 and set an outperform rating on the stock in a report on Thursday, May 2nd. JMP Securities dropped their price target on shares of Zillow Group from $68.00 to $62.00 and set a market outperform rating on the stock in a report on Thursday, May 2nd. Citigroup reduced their price target on Zillow Group from $68.00 to $58.00 and set a buy rating for the company in a research report on Thursday, May 2nd. Benchmark restated a buy rating and set a $60.00 target price on shares of Zillow Group in a research report on Tuesday, April 30th. Finally, Canaccord Genuity Group dropped their price objective on shares of Zillow Group from $58.00 to $50.00 and set a hold rating for the company in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Zillow Group has a consensus rating of Moderate Buy and a consensus target price of $56.67.

Zillow Group Trading Up 4.4 %

Shares of Zillow Group stock opened at $47.55 on Tuesday. The firm’s 50-day moving average price is $42.23 and its two-hundred day moving average price is $48.67. The company has a market capitalization of $11.23 billion, a price-to-earnings ratio of -68.91 and a beta of 2.02. Zillow Group has a 12-month low of $33.23 and a 12-month high of $59.23. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.21.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Wednesday, May 1st. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. The business had revenue of $529.00 million during the quarter, compared to analyst estimates of $509.30 million. On average, analysts forecast that Zillow Group will post -0.4 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Errol G. Samuelson sold 4,219 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total transaction 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 $8,375,604.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Errol G. Samuelson sold 4,219 shares of Zillow Group stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total transaction of $209,262.40. Following the transaction, the insider now directly owns 168,863 shares in the company, valued at approximately $8,375,604.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Susan Daimler sold 4,931 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $44.29, for a total transaction of $218,393.99. Following the sale, the insider now directly owns 19,556 shares of the company’s stock, valued at $866,135.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,260 shares of company stock worth $2,846,739. 17.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Large investors have recently made changes to their positions in the company. Garde Capital Inc. lifted its holdings in shares of Zillow Group by 1.0% during the first quarter. Garde Capital Inc. now owns 60,072 shares of the technology company’s stock worth $2,875,000 after buying an additional 600 shares during the last quarter. PGGM Investments boosted its holdings in Zillow Group by 7.3% in the 1st quarter. PGGM Investments now owns 60,585 shares of the technology company’s stock valued at $2,900,000 after purchasing an additional 4,144 shares during the period. Garner Asset Management Corp grew its position in Zillow Group by 8.0% in the 1st quarter. Garner Asset Management Corp now owns 24,962 shares of the technology company’s stock worth $1,195,000 after purchasing an additional 1,846 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Zillow Group by 169.9% during the 1st quarter. California State Teachers Retirement System now owns 24,773 shares of the technology company’s stock worth $1,186,000 after purchasing an additional 15,594 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Zillow Group during the first quarter valued at about $1,597,000. 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.