Zillow Group (NASDAQ:ZG) Price Target Raised to $64.00

Zillow Group (NASDAQ:ZG) had its price target lifted by Canaccord Genuity Group from $56.00 to $64.00 in a research report released on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the technology company’s stock.

A number of other brokerages have also recently commented on ZG. Cantor Fitzgerald restated a “neutral” rating and set a $47.00 price target on shares of Zillow Group in a research note on Monday, October 7th. JMP Securities raised their target price on Zillow Group from $62.00 to $82.00 and gave the stock a “market outperform” rating in a research report on Thursday. Susquehanna upped their price target on Zillow Group from $42.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. The Goldman Sachs Group increased their price objective on Zillow Group from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Citigroup boosted their target price on shares of Zillow Group from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and a consensus target price of $66.06.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $71.26 on Thursday. The firm has a market capitalization of $16.49 billion, a price-to-earnings ratio of -125.02 and a beta of 2.02. Zillow Group has a one year low of $34.33 and a one year high of $72.03. The business has a fifty day simple moving average of $59.60 and a 200 day simple moving average of $50.56. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.34%. The company had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $538.36 million. During the same quarter in the prior year, the company posted ($0.05) EPS. The business’s revenue was up 13.0% on a year-over-year basis. Sell-side analysts expect that Zillow Group will post -0.33 EPS for the current year.

Insiders Place Their Bets

In other news, insider Dan Spaulding sold 2,991 shares of Zillow Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total value of $159,061.38. Following the completion of the sale, the insider now directly owns 70,342 shares of the company’s stock, valued at approximately $3,740,787.56. This trade 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 other news, insider Dan Spaulding sold 2,991 shares of Zillow Group stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $53.18, for a total transaction of $159,061.38. Following the completion of the sale, the insider now owns 70,342 shares in the company, valued at $3,740,787.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO David A. Beitel sold 3,199 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $52.84, for a total transaction of $169,035.16. Following the completion of the transaction, the chief technology officer now owns 168,194 shares in the company, valued at $8,887,370.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,596 shares of company stock valued at $3,938,581. 17.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors have recently made changes to their positions in ZG. Edgestream Partners L.P. lifted its stake in Zillow Group by 140.6% in the first quarter. Edgestream Partners L.P. now owns 20,735 shares of the technology company’s stock valued at $992,000 after buying an additional 12,116 shares during the period. US Bancorp DE increased its stake in shares of Zillow Group by 42.6% in the 1st quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock valued at $11,775,000 after acquiring an additional 73,504 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Zillow Group in the 1st quarter valued at approximately $1,597,000. Russell Investments Group Ltd. grew its holdings in Zillow Group by 148.6% during the first quarter. Russell Investments Group Ltd. now owns 31,934 shares of the technology company’s stock valued at $1,528,000 after purchasing an additional 19,087 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Zillow Group by 24.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 49,569 shares of the technology company’s stock valued at $2,233,000 after purchasing an additional 9,828 shares during the period. 20.32% of the stock is owned by institutional investors and hedge funds.

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.