Canaccord Genuity Group Lowers Zillow Group (NASDAQ:ZG) Price Target to $50.00

Zillow Group (NASDAQ:ZG) had its price target dropped by stock analysts at Canaccord Genuity Group from $58.00 to $50.00 in a note issued to 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 suggest a potential upside of 19.05% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Bank of America downgraded shares of Zillow Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 10th. Benchmark increased their price target on shares of Zillow Group from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Susquehanna increased their price target on shares of Zillow Group from $36.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. JMP Securities reiterated a “market outperform” rating and issued a $68.00 price target on shares of Zillow Group in a research report on Friday, April 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 price target on shares of Zillow Group in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Zillow Group has a consensus rating of “Hold” and an average target price of $58.20.

Zillow Group Stock Down 2.6 %

Shares of NASDAQ:ZG opened at $42.00 on Monday. Zillow Group has a 12 month low of $33.23 and a 12 month high of $59.23. The company’s 50-day moving average price is $48.30 and its two-hundred day moving average price is $47.65. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.22. The firm has a market cap of $9.81 billion, a P/E ratio of -61.76 and a beta of 1.83.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.06. The company had revenue of $474.00 million for the quarter, compared to analyst estimates of $450.75 million. Zillow Group had a negative net margin of 8.12% and a negative return on equity of 2.32%. As a group, research analysts forecast that Zillow Group will post -0.15 EPS for the current fiscal year.

Insider Transactions at Zillow Group

In other news, insider Errol G. Samuelson sold 4,219 shares of Zillow Group stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total transaction of $209,262.40. Following the completion of the sale, the insider now owns 168,863 shares of the company’s stock, valued at $8,375,604.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Amy Bohutinsky sold 93,750 shares of Zillow Group stock in a transaction on Monday, March 4th. The stock was sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the completion of the sale, the director now owns 5,652 shares of the company’s stock, valued at $320,411.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Errol G. Samuelson sold 4,219 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total value of $209,262.40. Following the completion of the transaction, the insider now directly owns 168,863 shares of the company’s stock, valued at approximately $8,375,604.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 171,289 shares of company stock valued at $9,642,508. 17.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ZG. GAMMA Investing LLC acquired a new position in Zillow Group during the fourth quarter worth about $26,000. Creative Financial Designs Inc. ADV acquired a new position in Zillow Group during the fourth quarter worth about $31,000. Quadrant Capital Group LLC raised its stake in Zillow Group by 45.1% during the fourth quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock worth $43,000 after acquiring an additional 237 shares in the last quarter. CWM LLC raised its stake in Zillow Group by 100.0% during the third quarter. CWM LLC now owns 1,222 shares of the technology company’s stock worth $55,000 after acquiring an additional 611 shares in the last quarter. Finally, AtonRa Partners acquired a new position in Zillow Group during the third quarter worth about $206,000. Institutional investors and hedge funds 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.