Royal Bank of Canada Reiterates Outperform Rating for Zillow Group (NASDAQ:ZG)

Royal Bank of Canada reiterated their outperform rating on shares of Zillow Group (NASDAQ:ZG) in a report published on Tuesday, Benzinga reports. They currently have a $66.00 price objective on the technology company’s stock.

ZG has been the subject of a number of other reports. Evercore ISI increased their price target on shares of Zillow Group from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. JMP Securities reissued a “market outperform” rating and set a $62.00 target price on shares of Zillow Group in a research note on Wednesday, October 9th. Benchmark boosted their price target on shares of Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Finally, Craig Hallum boosted their target price on Zillow Group from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.53.

Zillow Group Trading Down 3.6 %

Zillow Group stock opened at $58.66 on Tuesday. The company has a 50 day moving average price of $57.80 and a 200 day moving average price of $49.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12. Zillow Group has a 52 week low of $33.23 and a 52 week high of $66.75. The firm has a market capitalization of $13.85 billion, a price-to-earnings ratio of -86.09 and a beta of 2.01.

Zillow Group (NASDAQ:ZG) last issued 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. The business had revenue of $572.00 million for the quarter, compared to the consensus estimate of $538.36 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. Zillow Group’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Research analysts forecast that Zillow Group will post -0.33 EPS for the current year.

Insider Activity

In related news, Director Amy Bohutinsky sold 20,625 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the completion of the sale, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the completion of the transaction, the director now owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thielke Claire Cormier sold 2,826 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $61.11, for a total value of $172,696.86. Following the completion of the sale, the director now directly owns 2,826 shares in the company, valued at $172,696.86. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 221,999 shares of company stock valued at $11,780,363 over the last 90 days. 17.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC acquired a new stake in Zillow Group during the third quarter worth about $29,000. Fidelis Capital Partners LLC bought a new stake in shares of Zillow Group in the 1st quarter worth approximately $32,000. EntryPoint Capital LLC acquired a new stake in shares of Zillow Group during the 1st quarter worth approximately $53,000. Signaturefd LLC increased its position in shares of Zillow Group by 29.7% during the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after purchasing an additional 360 shares during the period. Finally, GAMMA Investing LLC raised its stake 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 purchasing an additional 561 shares in the last quarter. 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.