Wells Fargo & Company Raises Zillow Group (NASDAQ:ZG) Price Target to $46.00

Zillow Group (NASDAQ:ZG) had its price objective boosted by equities research analysts at Wells Fargo & Company from $45.00 to $46.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 39.61% from the stock’s current price.

A number of other brokerages have also weighed in on ZG. Citigroup reiterated a “market outperform” rating on shares of Zillow Group in a report on Tuesday, May 26th. Piper Sandler dropped their target price on shares of Zillow Group from $70.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings lowered shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Evercore reaffirmed an “outperform” rating on shares of Zillow Group in a research note on Tuesday, March 17th. Finally, KeyCorp lowered their price target on Zillow Group from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Thirteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $69.48.

Zillow Group Stock Down 1.4%

Shares of Zillow Group stock opened at $32.95 on Tuesday. The stock’s fifty day moving average is $36.41 and its two-hundred day moving average is $47.19. The company has a market capitalization of $7.54 billion, a PE ratio of 131.80, a price-to-earnings-growth ratio of 1.43 and a beta of 1.95. Zillow Group has a 52 week low of $29.03 and a 52 week high of $90.22.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.10. The business had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. As a group, research analysts anticipate that Zillow Group will post 0.9 earnings per share for the current year.

Insider Activity at Zillow Group

In other news, CFO Jeremy Hofmann sold 5,501 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $37.40, for a total value of $205,737.40. Following the completion of the sale, the chief financial officer owned 68,315 shares in the company, valued at approximately $2,554,981. The trade was a 7.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dan Spaulding sold 3,078 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $115,117.20. Following the completion of the sale, the insider directly owned 49,696 shares of the company’s stock, valued at $1,858,630.40. The trade was a 5.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 42,910 shares of company stock worth $1,605,732 over the last quarter. Corporate insiders own 29.88% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently bought and sold shares of ZG. Tabor Asset Management LP bought a new position in shares of Zillow Group in the 3rd quarter worth $2,428,000. M&T Bank Corp boosted its position in Zillow Group by 38,344.0% during the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after purchasing an additional 1,600,097 shares in the last quarter. Emmett Investment Management LP bought a new stake in Zillow Group during the third quarter valued at about $2,860,000. Polianta Ltd purchased a new position in Zillow Group in the first quarter valued at about $1,494,000. Finally, Independent Franchise Partners LLP grew its stake in Zillow Group by 1.1% in the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after purchasing an additional 21,862 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

About Zillow Group

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.