UBS Group Cuts Zillow Group (NASDAQ:ZG) Price Target to $85.00

Zillow Group (NASDAQ:ZG) had its target price trimmed by UBS Group from $98.00 to $85.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other research analysts also recently weighed in on ZG. Keefe, Bruyette & Woods upgraded shares of Zillow Group to a “hold” rating in a research report on Friday, March 28th. Baird R W upgraded shares of Zillow Group to a “hold” rating in a research report on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and set a $88.00 price objective on shares of Zillow Group in a research report on Wednesday, February 12th. Benchmark increased their price target on Zillow Group from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, KeyCorp cut their target price on Zillow Group from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Zillow Group has an average rating of “Moderate Buy” and a consensus target price of $81.60.

Zillow Group Price Performance

Shares of Zillow Group stock opened at $60.28 on Friday. The firm has a market cap of $14.62 billion, a price-to-earnings ratio of -128.26, a PEG ratio of 8.90 and a beta of 2.22. Zillow Group has a 1 year low of $38.06 and a 1 year high of $86.58. The company has a 50-day moving average of $71.45 and a 200 day moving average of $70.79.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. On average, equities analysts anticipate that Zillow Group will post 0.32 EPS for the current year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, COO Jun Choo sold 55,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the sale, the chief operating officer now owns 86,853 shares of the company’s stock, valued at approximately $6,790,167.54. This trade represents a 38.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeremy Hofmann sold 1,612 shares of Zillow Group stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total value of $136,987.76. Following the completion of the transaction, the chief financial officer now owns 99,362 shares in the company, valued at $8,443,782.76. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 98,919 shares of company stock valued at $7,869,478 in the last three months. Company insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Zillow Group during the fourth quarter valued at $165,326,000. Arrowstreet Capital Limited Partnership raised its position in Zillow Group by 1,261.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company’s stock valued at $18,454,000 after acquiring an additional 241,331 shares in the last quarter. Virtu Financial LLC boosted its position in Zillow Group by 101.3% in the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock worth $29,775,000 after purchasing an additional 211,482 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Zillow Group during the 4th quarter worth approximately $14,916,000. Finally, Sone Capital Management LLC purchased a new position in shares of Zillow Group during the 4th quarter valued at approximately $11,185,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

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.