Canaccord Genuity Group Boosts Zillow Group (NASDAQ:ZG) Price Target to $64.00

Zillow Group (NASDAQ:ZG) had its target price raised by Canaccord Genuity Group from $56.00 to $64.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the company. Susquehanna boosted their price target on Zillow Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Barclays upped their target price on Zillow Group from $35.00 to $36.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. UBS Group lifted their price target on Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $47.00 price objective on shares of Zillow Group in a research report on Monday, October 7th. Finally, Benchmark raised their target price on shares of Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Zillow Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.06.

Zillow Group Price Performance

Zillow Group stock opened at $71.26 on Thursday. The company has a market cap of $16.49 billion, a P/E ratio of -125.02 and a beta of 2.02. Zillow Group has a one year low of $34.33 and a one year high of $72.03. The business has a fifty day moving average of $59.60 and a two-hundred day moving average of $50.62. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 3.13.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $581.00 million during the quarter, compared to analysts’ expectations of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.12) earnings per share. As a group, analysts predict that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Bradley D. Owens sold 752 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total transaction of $39,953.76. Following the transaction, the general counsel now directly owns 35,259 shares in the company, valued at approximately $1,873,310.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Bradley D. Owens sold 752 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total transaction of $39,953.76. Following the completion of the transaction, the general counsel now owns 35,259 shares of the company’s stock, valued at approximately $1,873,310.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the transaction, the director now directly owns 5,652 shares in the company, valued at approximately $379,983.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,596 shares of company stock valued at $3,938,581 over the last quarter. Company insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors have recently added to or reduced their stakes in ZG. Mark Asset Management LP acquired a new position in shares of Zillow Group in the 2nd quarter valued at about $4,524,000. Selkirk Management LLC raised its holdings in Zillow Group by 37.4% in the second quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock valued at $14,449,000 after buying an additional 87,300 shares during the period. Garde Capital Inc. lifted its position in Zillow Group by 132.7% during the second quarter. Garde Capital Inc. now owns 139,805 shares of the technology company’s stock valued at $6,297,000 after buying an additional 79,733 shares in the last quarter. US Bancorp DE grew its stake in Zillow Group by 42.6% during the first quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock worth $11,775,000 after buying an additional 73,504 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in shares of Zillow Group by 93.3% in the third quarter. Thrivent Financial for Lutherans now owns 142,917 shares of the technology company’s stock worth $8,851,000 after acquiring an additional 68,984 shares in the last quarter. Hedge funds and other 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.