Barclays Forecasts Strong Price Appreciation for Zillow Group (NASDAQ:ZG) Stock

Zillow Group (NASDAQ:ZG) had its target price raised by analysts at Barclays from $36.00 to $50.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the technology company’s stock. Barclays‘s price objective suggests a potential downside of 29.83% from the stock’s current price.

ZG has been the topic of a number of other reports. Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $50.00 to $80.00 in a report on Monday, September 16th. DA Davidson boosted their price objective on shares of Zillow Group from $71.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $47.00 target price on shares of Zillow Group in a research report on Monday, October 7th. Susquehanna lifted their target price on Zillow Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, Craig Hallum increased their price target on Zillow Group from $55.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.06.

Zillow Group Trading Up 1.7 %

Shares of ZG stock opened at $71.26 on Friday. Zillow Group has a twelve month low of $34.33 and a twelve month high of $72.03. The stock’s fifty day simple moving average is $59.60 and its 200 day simple moving average is $50.56. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $16.49 billion, a P/E ratio of -125.02 and a beta of 2.02.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.08. The company had revenue of $572.00 million for the quarter, compared to analysts’ expectations of $538.36 million. Zillow Group had a negative return on equity of 2.34% and a negative net margin of 6.17%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) earnings per share. As a group, sell-side analysts predict that Zillow Group will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the transaction, the director now directly owns 5,652 shares in the company, valued at $379,983.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of the business’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 owns 5,652 shares in the company, valued at approximately $379,983.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Dan Spaulding sold 2,991 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 70,342 shares in the company, valued at $3,740,787.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,596 shares of company stock valued at $3,938,581. 17.14% of the stock is owned by company insiders.

Institutional Trading of Zillow Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Mark Asset Management LP purchased a new stake in shares of Zillow Group in the second quarter valued at about $4,524,000. Selkirk Management LLC grew its position in Zillow Group by 37.4% in the 2nd quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock worth $14,449,000 after purchasing an additional 87,300 shares in the last quarter. Garde Capital Inc. increased its stake in Zillow Group by 132.7% in the 2nd quarter. Garde Capital Inc. now owns 139,805 shares of the technology company’s stock valued at $6,297,000 after buying an additional 79,733 shares during the last quarter. US Bancorp DE lifted its position in shares of Zillow Group by 42.6% during the 1st quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock worth $11,775,000 after buying an additional 73,504 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Zillow Group by 93.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 142,917 shares of the technology company’s stock worth $8,851,000 after buying an additional 68,984 shares during the last quarter. 20.32% of the stock is owned by hedge funds and other 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.