JPMorgan Chase & Co. Trims Zillow Group (NASDAQ:ZG) Target Price to $61.00

Zillow Group (NASDAQ:ZG) had its target price reduced by JPMorgan Chase & Co. from $65.00 to $61.00 in a research report released on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

Other analysts also recently issued reports about the company. Royal Bank of Canada decreased their price target on Zillow Group from $66.00 to $60.00 and set an outperform rating on the stock in a research note on Thursday. Craig Hallum lowered their price target on shares of Zillow Group from $65.00 to $51.00 and set a buy rating on the stock in a research note on Thursday. DA Davidson reiterated a buy rating and issued a $63.00 price target on shares of Zillow Group in a report on Friday, April 5th. Barclays boosted their price objective on shares of Zillow Group from $32.00 to $40.00 and gave the stock an underweight rating in a report on Wednesday, February 21st. Finally, Piper Sandler increased their target price on shares of Zillow Group from $70.00 to $72.00 and gave the company an overweight rating in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $57.40.

Zillow Group Stock Up 2.2 %

Shares of Zillow Group stock opened at $40.07 on Thursday. The company has a market cap of $9.35 billion, a P/E ratio of -58.07 and a beta of 1.87. The firm has a fifty day moving average of $47.44 and a two-hundred day moving average of $47.59. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.24 and a current ratio of 3.32. Zillow Group has a one year low of $33.23 and a one year high of $59.23.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.06. Zillow Group had a negative net margin of 7.93% and a negative return on equity of 2.28%. The firm had revenue of $474.00 million during the quarter, compared to analysts’ expectations of $450.75 million. On average, analysts forecast that Zillow Group will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Susan Daimler sold 15,206 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $56.36, for a total transaction of $857,010.16. Following the sale, the insider now owns 36,148 shares in the company, valued at $2,037,301.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Susan Daimler sold 15,206 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $56.36, for a total value of $857,010.16. Following the completion of the transaction, the insider now directly owns 36,148 shares in the company, valued at $2,037,301.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Bohutinsky sold 93,750 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $56.69, for a total value of $5,314,687.50. Following the completion of the sale, the director now directly owns 5,652 shares in the company, valued at $320,411.88. The disclosure for this sale can be found here. Insiders have sold 171,289 shares of company stock valued at $9,642,508 in the last ninety days. Insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Zillow Group by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock worth $456,861,000 after buying an additional 1,730,731 shares during the period. Norges Bank acquired a new stake in Zillow Group during the fourth quarter worth about $102,096,000. Qube Research & Technologies Ltd lifted its stake in shares of Zillow Group by 50.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock valued at $42,397,000 after purchasing an additional 317,683 shares in the last quarter. UBS Group AG lifted its stake in shares of Zillow Group by 73.0% in the 4th quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock valued at $23,832,000 after purchasing an additional 177,265 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Zillow Group by 1.7% during the 1st quarter. Raymond James & Associates now owns 180,407 shares of the technology company’s stock worth $8,634,000 after purchasing an additional 2,999 shares during the period. 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.