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

Zillow Group (NASDAQ:ZG) had its price target reduced by Canaccord Genuity Group from $86.00 to $76.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 15.05% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $88.00 target price on shares of Zillow Group in a research report on Wednesday, February 12th. Citigroup cut their price objective on shares of Zillow Group from $98.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. KeyCorp decreased their target price on Zillow Group from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Bank of America boosted their price target on Zillow Group from $81.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, Robert W. Baird assumed coverage on Zillow Group in a research report on Friday, January 31st. They issued a “neutral” rating and a $88.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.10.

Zillow Group Trading Down 1.4 %

Shares of NASDAQ ZG opened at $66.06 on Monday. Zillow Group has a one year low of $38.40 and a one year high of $86.58. The business has a 50-day moving average price of $66.73 and a two-hundred day moving average price of $71.07. The firm has a market capitalization of $16.02 billion, a PE ratio of -140.55, a PEG ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Research analysts anticipate that Zillow Group will post 0.32 EPS for the current year.

Insider Activity at Zillow Group

In other Zillow Group news, COO Jun Choo sold 55,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total value of $4,299,900.00. Following the completion of the sale, the chief operating officer now directly owns 86,853 shares of the company’s stock, valued at $6,790,167.54. The trade was a 38.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jennifer Rock sold 5,796 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $75.50, for a total value of $437,598.00. Following the completion of the sale, the chief accounting officer now directly owns 51,370 shares of the company’s stock, valued at approximately $3,878,435. This trade represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,919 shares of company stock valued at $5,744,978. Company insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Several large investors have recently added to or reduced their stakes in ZG. Pilgrim Partners Asia Pte Ltd purchased a new position in Zillow Group during the fourth quarter valued at $27,000. Blue Trust Inc. raised its position 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 purchasing an additional 172 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in Zillow Group in the 1st quarter worth about $42,000. Asset Dedication LLC purchased a new stake in Zillow Group during the 4th quarter valued at about $47,000. Finally, CX Institutional bought a new stake in Zillow Group during the 1st quarter valued at about $46,000. 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.