Canaccord Genuity Group Issues Positive Forecast for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its price target raised by Canaccord Genuity Group from $64.00 to $86.00 in a report released on Monday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the technology company’s stock.

ZG has been the topic of several other reports. Piper Sandler restated an “overweight” rating and set a $73.00 price objective (up from $62.00) on shares of Zillow Group in a research note on Thursday, November 7th. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $50.00 to $80.00 in a research report on Monday, September 16th. Craig Hallum lifted their price target on shares of Zillow Group from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. JMP Securities increased their price objective on shares of Zillow Group from $62.00 to $82.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group raised their target price on shares of Zillow Group from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.94.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $80.64 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. Zillow Group has a 1 year low of $38.06 and a 1 year high of $83.67. The firm’s 50-day simple moving average is $65.55 and its 200-day simple moving average is $54.26. The firm has a market cap of $18.83 billion, a PE ratio of -141.30 and a beta of 2.08.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The firm had revenue of $581.00 million for the quarter, compared to analysts’ expectations of $555.45 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. Zillow Group’s revenue for the quarter was up 17.1% compared to the same quarter last year. Equities analysts forecast that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 3,187 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $74.00, for a total value of $235,838.00. Following the completion of the sale, the chief accounting officer now directly owns 69,649 shares in the company, valued at $5,154,026. This represents a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Susan Daimler sold 3,484 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total value of $188,763.12. Following the transaction, the insider now directly owns 22,464 shares of the company’s stock, valued at approximately $1,217,099.52. The trade was a 13.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 163,591 shares of company stock valued at $11,892,886 in the last quarter. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Several institutional investors have recently modified their holdings of ZG. Signaturefd LLC raised 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 in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Zillow Group by 9.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,669 shares of the technology company’s stock valued at $210,000 after buying an additional 421 shares in the last quarter. Creative Planning lifted its position in shares of Zillow Group by 7.2% during the 3rd quarter. Creative Planning now owns 6,537 shares of the technology company’s stock valued at $405,000 after acquiring an additional 439 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Zillow Group during the 3rd quarter valued at $29,000. Finally, Wedmont Private Capital boosted its stake in shares of Zillow Group by 4.2% during the 2nd quarter. Wedmont Private Capital now owns 12,483 shares of the technology company’s stock worth $610,000 after acquiring an additional 504 shares in 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.