Zillow Group (NASDAQ:ZG) Price Target Cut to $62.00 by Analysts at JMP Securities

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

Other analysts also recently issued research reports about the company. Craig Hallum cut their price target on Zillow Group from $65.00 to $51.00 and set a “buy” rating on the stock in a report on Thursday. Canaccord Genuity Group decreased their target price on shares of Zillow Group from $58.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, April 29th. Barclays lifted their target price on Zillow Group from $32.00 to $40.00 and gave the company an “underweight” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. reduced their price target on Zillow Group from $65.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Piper Sandler raised their target price on shares of Zillow Group from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.25.

Zillow Group Stock Up 2.2 %

NASDAQ:ZG opened at $40.07 on Thursday. Zillow Group has a 1 year low of $33.23 and a 1 year high of $59.23. The stock has a 50-day moving average price of $47.67 and a two-hundred day moving average price of $47.55. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of -58.07 and a beta of 1.87. 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 (NASDAQ:ZG) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.06. Zillow Group had a negative return on equity of 2.30% and a negative net margin of 7.93%. The business had revenue of $474.00 million for the quarter, compared to analysts’ expectations of $450.75 million. As a group, equities analysts expect that Zillow Group will post -0.18 earnings per share for the current year.

Insider Activity at Zillow Group

In related news, insider Errol G. Samuelson sold 4,219 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total transaction of $209,262.40. Following the sale, the insider now owns 168,863 shares in the company, valued at approximately $8,375,604.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Bradley D. Owens sold 966 shares of Zillow Group stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total transaction of $56,037.66. Following the sale, the general counsel now directly owns 17,181 shares of the company’s stock, valued at approximately $996,669.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Errol G. Samuelson sold 4,219 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 168,863 shares of the company’s stock, valued at $8,375,604.80. The disclosure for this sale can be found here. Insiders sold a total of 171,289 shares of company stock valued at $9,642,508 over the last quarter. 17.14% of the stock is owned by corporate insiders.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC bought a new position in Zillow Group during the fourth quarter worth $26,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Zillow Group during the 4th quarter valued at about $31,000. Fidelis Capital Partners LLC acquired a new stake in Zillow Group during the first quarter worth approximately $32,000. Quadrant Capital Group LLC increased its holdings in Zillow Group by 45.1% in the fourth quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock worth $43,000 after purchasing an additional 237 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Zillow Group by 100.0% during the 3rd quarter. CWM LLC now owns 1,222 shares of the technology company’s stock worth $55,000 after buying an additional 611 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.