Zillow Group (NASDAQ:ZG) Given New $58.00 Price Target at Citigroup

Zillow Group (NASDAQ:ZG) had its target price decreased by Citigroup from $68.00 to $58.00 in a report published on Thursday, Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

A number of other brokerages have also recently weighed in on ZG. Canaccord Genuity Group reduced their target price on Zillow Group from $58.00 to $50.00 and set a hold rating on the stock in a report on Monday, April 29th. Bank of America downgraded shares of Zillow Group from a buy rating to a neutral rating in a research report on Wednesday, January 10th. Barclays reduced their price target on shares of Zillow Group from $40.00 to $35.00 and set an underweight rating on the stock in a research report on Thursday. Susquehanna increased their price objective on shares of Zillow Group from $36.00 to $60.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Finally, Piper Sandler lifted 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $57.40.

Zillow Group Trading Up 2.2 %

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

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

Insider Activity

In other Zillow Group news, General Counsel Bradley D. Owens sold 966 shares of the firm’s stock in a transaction 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 completion of the transaction, 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 document filed with the SEC, which is available through this hyperlink. In related news, insider Dan Spaulding sold 3,086 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $58.00, for a total transaction of $178,988.00. Following the sale, the insider now directly owns 48,294 shares of the company’s stock, valued at approximately $2,801,052. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Bradley D. Owens sold 966 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total value of $56,037.66. Following the transaction, the general counsel now owns 17,181 shares in the company, valued at $996,669.81. The disclosure for this sale can be found here. In the last three months, insiders sold 171,289 shares of company stock worth $9,642,508. 17.14% of the stock is currently owned by insiders.

Institutional Trading of Zillow Group

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Zillow Group by 27.4% during the fourth quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock valued at $456,861,000 after purchasing an additional 1,730,731 shares during the last quarter. Norges Bank acquired a new position in Zillow Group during the 4th quarter valued at approximately $102,096,000. Qube Research & Technologies Ltd grew its stake in Zillow Group by 50.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock worth $42,397,000 after buying an additional 317,683 shares during the last quarter. UBS Group AG increased its position in Zillow Group by 73.0% in the fourth quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock worth $23,832,000 after buying an additional 177,265 shares during the period. Finally, Raymond James & Associates lifted its stake in Zillow Group by 1.7% in the first quarter. Raymond James & Associates now owns 180,407 shares of the technology company’s stock valued at $8,634,000 after buying an additional 2,999 shares during the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

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.