Zillow Group’s (ZG) Buy Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Zillow Group (NASDAQ:ZG) in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a $95.00 price objective on the technology company’s stock.

ZG has been the subject of several other reports. Royal Bank Of Canada upped their target price on Zillow Group from $88.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Susquehanna reiterated a “neutral” rating on shares of Zillow Group in a research report on Friday, August 8th. Piper Sandler boosted their price target on Zillow Group from $82.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price target on Zillow Group from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, JMP Securities reiterated a “market outperform” rating and set a $87.00 price target on shares of Zillow Group in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Zillow Group presently has an average rating of “Moderate Buy” and a consensus target price of $86.78.

Zillow Group Price Performance

Shares of ZG stock opened at $72.46 on Thursday. The company has a market cap of $17.55 billion, a price-to-earnings ratio of -278.69, a PEG ratio of 19.82 and a beta of 2.11. The stock has a 50 day simple moving average of $80.19 and a 200-day simple moving average of $72.07. Zillow Group has a 1-year low of $55.08 and a 1-year high of $90.22.

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

Insider Buying and Selling

In other Zillow Group news, CTO David A. Beitel sold 22,510 shares of Zillow Group stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $90.97, for a total value of $2,047,734.70. Following the transaction, the chief technology officer directly owned 144,549 shares in the company, valued at approximately $13,149,622.53. This trade represents a 13.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jun Choo sold 45,710 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $85.21, for a total value of $3,894,949.10. Following the completion of the sale, the chief operating officer directly owned 117,098 shares of the company’s stock, valued at $9,977,920.58. This represents a 28.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 657,087 shares of company stock worth $56,286,479. 17.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently bought and sold shares of ZG. National Bank of Canada FI raised its holdings in Zillow Group by 79.4% during the first quarter. National Bank of Canada FI now owns 488 shares of the technology company’s stock worth $33,000 after purchasing an additional 216 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in Zillow Group during the first quarter worth $42,000. CX Institutional acquired a new position in Zillow Group during the first quarter worth $46,000. PNC Financial Services Group Inc. raised its holdings in Zillow Group by 33.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company’s stock worth $75,000 after purchasing an additional 280 shares during the last quarter. Finally, Lavaca Capital LLC raised its holdings in shares of Zillow Group by 67.0% in the second quarter. Lavaca Capital LLC now owns 1,670 shares of the technology company’s stock worth $114,000 after acquiring an additional 670 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.