Royal Bank of Canada Increases Zillow Group (NASDAQ:ZG) Price Target to $66.00

Zillow Group (NASDAQ:ZG) had its price objective lifted by investment analysts at Royal Bank of Canada from $60.00 to $66.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 23.53% from the company’s current price.

A number of other research firms also recently commented on ZG. Barclays boosted their target price on Zillow Group from $35.00 to $36.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Benchmark boosted their target price on Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Craig Hallum boosted their target price on Zillow Group from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. JMP Securities decreased their target price on Zillow Group from $68.00 to $62.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 2nd. Finally, UBS Group upped their price objective on Zillow Group from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.33.

Zillow Group Trading Down 1.0 %

NASDAQ:ZG opened at $53.43 on Thursday. The firm has a market cap of $12.62 billion, a P/E ratio of -77.43 and a beta of 2.05. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. The stock’s 50 day simple moving average is $48.45 and its 200-day simple moving average is $46.97. Zillow Group has a 12-month low of $33.23 and a 12-month high of $59.23.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The firm had revenue of $572.00 million for the quarter, compared to the consensus estimate of $538.36 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities analysts anticipate that Zillow Group will post -0.33 EPS for the current year.

Insider Activity at Zillow Group

In related news, Director Jay C. Hoag bought 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average cost of $42.27 per share, for a total transaction of $42,270,000.00. Following the acquisition, the director now owns 652,520 shares in the company, valued at approximately $27,582,020.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other Zillow Group news, Director Jay C. Hoag acquired 816,866 shares of the stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $43.14 per share, for a total transaction of $35,239,599.24. Following the purchase, the director now directly owns 1,185,540 shares in the company, valued at $51,144,195.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag acquired 1,000,000 shares of the stock in a transaction on Friday, June 7th. The shares were acquired at an average price of $42.27 per share, with a total value of $42,270,000.00. Following the purchase, the director now owns 652,520 shares in the company, valued at $27,582,020.40. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 199,558 shares of company stock worth $10,236,754. 17.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ZG. GAMMA Investing LLC acquired a new position in shares of Zillow Group in the 4th quarter worth approximately $26,000. Fidelis Capital Partners LLC acquired a new position in shares of Zillow Group in the 1st quarter worth approximately $32,000. Quadrant Capital Group LLC grew its position in shares of Zillow Group by 45.1% in the 4th quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock worth $43,000 after acquiring an additional 237 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Zillow Group in the 1st quarter worth approximately $53,000. Finally, Signaturefd LLC lifted its holdings in shares of Zillow Group by 29.7% in the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after purchasing an additional 360 shares during the last quarter. Institutional investors and hedge funds 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.