Royal Bank of Canada Lowers Zillow Group (NASDAQ:ZG) Price Target to $60.00

Zillow Group (NASDAQ:ZG) had its target price trimmed by Royal Bank of Canada from $66.00 to $60.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other brokerages also recently issued reports on ZG. DA Davidson reiterated a buy rating and set a $63.00 price target on shares of Zillow Group in a report on Friday, April 5th. Barclays increased their target price on shares of Zillow Group from $32.00 to $40.00 and gave the company an underweight rating in a report on Wednesday, February 21st. JMP Securities reissued a market outperform rating and set a $68.00 price target on shares of Zillow Group in a research report on Friday, April 12th. Piper Sandler upped their price objective on shares of Zillow Group from $70.00 to $72.00 and gave the stock an overweight rating in a research report on Wednesday, February 14th. Finally, Benchmark reissued a buy rating and set a $60.00 target price on shares of Zillow Group in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $57.40.

Zillow Group Stock Up 2.2 %

Shares of NASDAQ ZG opened at $40.07 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.32 and a quick ratio of 3.24. The company has a 50-day moving average price of $47.44 and a 200-day moving average price of $47.59. The stock has a market capitalization of $9.35 billion, a P/E ratio of -58.07 and a beta of 1.87. Zillow Group has a 1 year low of $33.23 and a 1 year high of $59.23.

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

Insider Buying and Selling

In other news, General Counsel Bradley D. Owens sold 966 shares of Zillow Group stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total value of $56,037.66. Following the completion of the transaction, the general counsel now owns 17,181 shares in the company, valued at $996,669.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Jennifer Rock sold 7,352 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $57.29, for a total transaction of $421,196.08. Following the sale, the chief accounting officer now directly owns 56,384 shares in the company, valued at approximately $3,230,239.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Bradley D. Owens sold 966 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total value of $56,037.66. Following the completion of the transaction, the general counsel now owns 17,181 shares of the company’s stock, valued at approximately $996,669.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 171,289 shares of company stock valued at $9,642,508. 17.14% of the stock is owned by insiders.

Hedge Funds Weigh In On Zillow Group

Large investors have recently modified their holdings of the company. CWM LLC raised its position in shares of Zillow Group by 100.0% in the third 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. Commonwealth Equity Services LLC increased its position in shares of Zillow Group by 33.1% in the third quarter. Commonwealth Equity Services LLC now owns 9,003 shares of the technology company’s stock worth $403,000 after purchasing an additional 2,237 shares during the last quarter. AtonRa Partners purchased a new stake in Zillow Group in the third quarter valued at approximately $206,000. Allspring Global Investments Holdings LLC lifted its position in Zillow Group by 215.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,252 shares of the technology company’s stock valued at $414,000 after purchasing an additional 6,320 shares during the last quarter. Finally, Aubrey Capital Management Ltd grew its stake in Zillow Group by 16.4% in the 3rd quarter. Aubrey Capital Management Ltd now owns 61,123 shares of the technology company’s stock worth $2,738,000 after buying an additional 8,600 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors.

Zillow Group Company Profile

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.