DA Davidson Boosts Zillow Group (NASDAQ:ZG) Price Target to $71.00

Zillow Group (NASDAQ:ZG) had its price objective raised by research analysts at DA Davidson from $52.00 to $71.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s price target suggests a potential upside of 8.95% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Benchmark upped their price objective on shares of Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. UBS Group upped their price objective on shares of Zillow Group from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Susquehanna upped their price objective on shares of Zillow Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Barclays upped their price objective on shares of Zillow Group from $35.00 to $36.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. Finally, Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $50.00 to $80.00 in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and an average price target of $60.94.

Zillow Group Stock Up 2.4 %

Shares of NASDAQ ZG opened at $65.17 on Wednesday. The firm has a market cap of $15.08 billion, a PE ratio of -94.45 and a beta of 2.00. Zillow Group has a 12-month low of $33.23 and a 12-month high of $66.75. The company’s fifty day simple moving average is $52.34 and its 200 day simple moving average is $47.38. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

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

Insider Activity

In other news, Director Thielke Claire Cormier sold 2,826 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $61.11, for a total transaction of $172,696.86. Following the completion of the sale, the director now owns 2,826 shares of the company’s stock, valued at approximately $172,696.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zillow Group news, Director Thielke Claire Cormier sold 2,826 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.11, for a total value of $172,696.86. Following the completion of the transaction, the director now directly owns 2,826 shares in the company, valued at approximately $172,696.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Lloyd D. Frink sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the transaction, the chairman now owns 582 shares of the company’s stock, valued at $29,583.06. The disclosure for this sale can be found here. Insiders sold 221,999 shares of company stock valued at $11,780,363 in the last quarter. 17.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZG. Vanguard Group Inc. boosted its position in shares of Zillow Group by 27.4% during the 4th quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock valued at $456,861,000 after acquiring an additional 1,730,731 shares during the last quarter. UBS Group AG boosted its position in shares of Zillow Group by 73.0% during the 4th quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock valued at $23,832,000 after acquiring an additional 177,265 shares during the last quarter. Berkshire Capital Holdings Inc. boosted its position in shares of Zillow Group by 1,145,800.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 114,590 shares of the technology company’s stock valued at $6,630,000 after acquiring an additional 114,580 shares during the last quarter. Mark Asset Management LP bought a new position in shares of Zillow Group during the 2nd quarter valued at approximately $4,524,000. Finally, Selkirk Management LLC boosted its position in shares of Zillow Group by 37.4% during the 2nd quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock valued at $14,449,000 after acquiring an additional 87,300 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors.

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.