Zillow Group (NASDAQ:ZG) Price Target Raised to $95.00

Zillow Group (NASDAQ:ZG) had its price objective raised by Royal Bank Of Canada from $88.00 to $95.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other equities research analysts also recently issued reports on the company. Benchmark lowered their price objective on Zillow Group from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. The Goldman Sachs Group lowered their price objective on Zillow Group from $77.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Citigroup lowered their price objective on Zillow Group from $98.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Canaccord Genuity Group lowered their price objective on Zillow Group from $86.00 to $76.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Finally, William Blair started coverage on Zillow Group in a research report on Monday, April 21st. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.62.

Zillow Group Trading Down 4.4%

Shares of NASDAQ ZG opened at $77.51 on Thursday. The stock has a fifty day simple moving average of $72.45 and a two-hundred day simple moving average of $70.80. Zillow Group has a 1-year low of $47.86 and a 1-year high of $86.58. The firm has a market cap of $18.71 billion, a price-to-earnings ratio of -298.12, a price-to-earnings-growth ratio of 14.32 and a beta of 2.07.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The business had revenue of $655.00 million for the quarter, compared to analysts’ expectations of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share. Analysts forecast that Zillow Group will post 0.32 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Bradley D. Owens sold 3,466 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $68.96, for a total transaction of $239,015.36. Following the completion of the transaction, the general counsel owned 47,215 shares of the company’s stock, valued at $3,255,946.40. This trade represents a 6.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dan Spaulding sold 5,534 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $381,735.32. Following the transaction, the insider directly owned 68,889 shares of the company’s stock, valued at approximately $4,751,963.22. This trade represents a 7.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,371 shares of company stock valued at $5,775,204 over the last ninety days. 17.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Zillow Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 7,002,693 shares of the technology company’s stock worth $468,200,000 after acquiring an additional 57,693 shares during the last quarter. Independent Franchise Partners LLP raised its stake in Zillow Group by 1.8% during the 1st quarter. Independent Franchise Partners LLP now owns 2,060,399 shares of the technology company’s stock valued at $137,758,000 after buying an additional 36,046 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Zillow Group by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 445,664 shares of the technology company’s stock valued at $31,578,000 after buying an additional 27,345 shares during the last quarter. Selkirk Management LLC raised its stake in Zillow Group by 14.0% during the 4th quarter. Selkirk Management LLC now owns 365,800 shares of the technology company’s stock valued at $25,917,000 after buying an additional 45,000 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Zillow Group by 110.8% during the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after buying an additional 152,955 shares during the last quarter. 20.32% of the stock is currently owned by hedge funds and other 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.