Susquehanna Lowers Zillow Group (NASDAQ:ZG) Price Target to $36.00

Zillow Group (NASDAQ:ZG) had its price target decreased by analysts at Susquehanna from $50.00 to $36.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Susquehanna’s target price suggests a potential downside of 2.12% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Wedbush lifted their price target on shares of Zillow Group from $42.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, August 3rd. Citigroup boosted their price objective on shares of Zillow Group from $60.00 to $65.00 in a research report on Friday, August 4th. Royal Bank of Canada boosted their price objective on shares of Zillow Group from $50.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. DA Davidson upped their price target on shares of Zillow Group from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Barclays upped their price target on shares of Zillow Group from $30.00 to $36.00 and gave the stock an “underweight” rating in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.84.

Zillow Group Trading Up 5.9 %

Shares of NASDAQ:ZG opened at $36.78 on Friday. Zillow Group has a 12-month low of $30.23 and a 12-month high of $55.68. The stock has a market cap of $8.56 billion, a PE ratio of -54.89 and a beta of 1.80. The business has a 50 day moving average of $43.87 and a 200-day moving average of $46.57. The company has a quick ratio of 10.90, a current ratio of 3.84 and a debt-to-equity ratio of 0.23.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.21. Zillow Group had a negative return on equity of 2.30% and a negative net margin of 8.24%. The company had revenue of $506.00 million during the quarter, compared to analysts’ expectations of $473.04 million. As a group, equities research analysts forecast that Zillow Group will post -0.78 earnings per share for the current year.

Insider Activity

In other news, CTO David A. Beitel sold 4,670 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $53.73, for a total transaction of $250,919.10. Following the completion of the transaction, the chief technology officer now directly owns 131,425 shares of the company’s stock, valued at approximately $7,061,465.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO David A. Beitel sold 4,670 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $53.73, for a total value of $250,919.10. Following the completion of the transaction, the chief technology officer now directly owns 131,425 shares of the company’s stock, valued at approximately $7,061,465.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Errol G. Samuelson sold 19,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $52.66, for a total transaction of $1,000,540.00. Following the completion of the transaction, the insider now directly owns 131,455 shares of the company’s stock, valued at $6,922,420.30. The disclosure for this sale can be found here. Insiders sold 71,177 shares of company stock valued at $3,701,431 in the last three months. Company insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Several institutional investors and hedge funds have recently made changes to their positions in ZG. Envestnet Asset Management Inc. raised its position in Zillow Group by 60.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 7,527 shares of the technology company’s stock worth $363,000 after purchasing an additional 2,837 shares during the period. JPMorgan Chase & Co. raised its position in Zillow Group by 67.0% in the 1st quarter. JPMorgan Chase & Co. now owns 17,633 shares of the technology company’s stock worth $850,000 after purchasing an additional 7,077 shares during the period. Bank of New York Mellon Corp raised its position in Zillow Group by 0.8% in the 1st quarter. Bank of New York Mellon Corp now owns 163,472 shares of the technology company’s stock worth $7,885,000 after purchasing an additional 1,287 shares during the period. HighTower Advisors LLC raised its position in Zillow Group by 10.0% in the 1st quarter. HighTower Advisors LLC now owns 7,096 shares of the technology company’s stock worth $339,000 after purchasing an additional 644 shares during the period. Finally, Citigroup Inc. raised its position in Zillow Group by 61.2% in the 1st quarter. Citigroup Inc. now owns 61,187 shares of the technology company’s stock worth $2,952,000 after purchasing an additional 23,230 shares during the period. Hedge funds and other institutional investors own 18.94% of the company’s stock.

About Zillow Group

Zillow Group, Inc operates real estate brands on mobile applications and Websites in the United States. The company operates through Internet, Media & Technology (IMT); Mortgages; and Homes segments. Its IMT segment offers premier agent and rentals marketplaces, as well as other services, which includes new construction marketplace, advertising, and business technology solutions, as well as display and dotloop and floor plans.