KeyCorp Has Lowered Expectations for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its target price decreased by research analysts at KeyCorp from $95.00 to $85.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price points to a potential upside of 23.46% from the company’s current price.

Several other equities research analysts also recently issued reports on ZG. Royal Bank of Canada restated an “outperform” rating and set a $88.00 price objective on shares of Zillow Group in a report on Wednesday, February 12th. Susquehanna lifted their target price on Zillow Group from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Bank of America lifted their target price on Zillow Group from $81.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Piper Sandler reduced their price objective on Zillow Group from $93.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, February 12th. Finally, Stephens restated an “overweight” rating and set a $73.00 price objective on shares of Zillow Group in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.25.

Zillow Group Price Performance

Shares of ZG opened at $68.85 on Tuesday. The firm has a 50 day simple moving average of $74.94 and a 200-day simple moving average of $69.72. Zillow Group has a 1-year low of $38.06 and a 1-year high of $86.58. The stock has a market cap of $16.70 billion, a price-to-earnings ratio of -146.49, a price-to-earnings-growth ratio of 8.90 and a beta of 2.33.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. On average, equities analysts expect that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In related news, CFO Jeremy Hofmann sold 1,612 shares of Zillow Group stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total value of $136,987.76. Following the completion of the transaction, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. The trade was a 1.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer Rock sold 5,796 shares of Zillow Group stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $75.50, for a total transaction of $437,598.00. Following the sale, the chief accounting officer now directly owns 51,370 shares of the company’s stock, valued at $3,878,435. This represents a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 96,065 shares of company stock valued at $7,660,165. 17.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Zillow Group in the fourth quarter worth $27,000. Blue Trust Inc. grew its stake in shares of Zillow Group by 70.2% in the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after buying an additional 172 shares in the last quarter. Asset Dedication LLC bought a new stake in shares of Zillow Group in the 4th quarter worth about $47,000. Assetmark Inc. lifted its holdings in Zillow Group by 18,875.0% during the 4th quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock valued at $54,000 after buying an additional 755 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Zillow Group by 24.0% during the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock valued at $58,000 after buying an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

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.