Zillow Group (NASDAQ:ZG) Price Target Cut to $62.00

Zillow Group (NASDAQ:ZG) had its target price lowered by JMP Securities from $68.00 to $62.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “market outperform” rating on the technology company’s stock. JMP Securities’ target price would indicate a potential upside of 54.73% from the company’s current price.

ZG has been the topic of a number of other reports. Piper Sandler increased their price target on shares of Zillow Group from $70.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. reduced their target price on Zillow Group from $65.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday. Susquehanna raised their price target on Zillow Group from $36.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Royal Bank of Canada decreased their price objective on shares of Zillow Group from $66.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Barclays lifted their target price on shares of Zillow Group from $32.00 to $40.00 and gave the company an “underweight” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $57.25.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $40.07 on Thursday. The business’s fifty day simple moving average is $47.67 and its 200 day simple moving average is $47.55. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.22. Zillow Group has a 12 month low of $33.23 and a 12 month high of $59.23. The firm has a market capitalization of $9.36 billion, a P/E ratio of -58.07 and a beta of 1.87.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.06. Zillow Group had a negative net margin of 7.93% and a negative return on equity of 2.30%. The company had revenue of $474.00 million for the quarter, compared to analysts’ expectations of $450.75 million. As a group, analysts anticipate that Zillow Group will post -0.18 EPS for the current year.

Insider Activity

In related news, General Counsel Bradley D. Owens sold 966 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total value of $56,037.66. Following the transaction, the general counsel now directly owns 17,181 shares of the company’s stock, valued at approximately $996,669.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, General Counsel Bradley D. Owens sold 966 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total value of $56,037.66. Following the sale, the general counsel now owns 17,181 shares in the company, valued at $996,669.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dan Spaulding sold 3,086 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $58.00, for a total transaction of $178,988.00. Following the transaction, the insider now owns 48,294 shares of the company’s stock, valued at approximately $2,801,052. The disclosure for this sale can be found here. Insiders have sold 171,289 shares of company stock worth $9,642,508 in the last three months. Company insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Hedge funds have recently bought and sold shares of the business. CWM LLC raised its holdings in shares of Zillow Group by 100.0% in the third quarter. CWM LLC now owns 1,222 shares of the technology company’s stock valued at $55,000 after acquiring an additional 611 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Zillow Group by 33.1% in the third quarter. Commonwealth Equity Services LLC now owns 9,003 shares of the technology company’s stock worth $403,000 after purchasing an additional 2,237 shares during the last quarter. AtonRa Partners purchased a new stake in shares of Zillow Group during the 3rd quarter valued at $206,000. Allspring Global Investments Holdings LLC boosted its position in shares of Zillow Group by 215.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,252 shares of the technology company’s stock worth $414,000 after purchasing an additional 6,320 shares in the last quarter. Finally, Aubrey Capital Management Ltd increased its position in Zillow Group by 16.4% during the 3rd quarter. Aubrey Capital Management Ltd now owns 61,123 shares of the technology company’s stock valued at $2,738,000 after buying an additional 8,600 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.