Barclays Lowers Zillow Group (NASDAQ:ZG) Price Target to $60.00

Zillow Group (NASDAQ:ZG) had its target price cut by Barclays from $64.00 to $60.00 in a research report released on Thursday morning,Benzinga reports. They currently have an underweight rating on the technology company’s stock.

Several other equities research analysts also recently issued reports on ZG. Keefe, Bruyette & Woods raised Zillow Group to a “hold” rating in a research note on Friday, March 28th. Susquehanna increased their price target on shares of Zillow Group from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Wells Fargo & Company began coverage on shares of Zillow Group in a research report on Monday, April 28th. They set a “mixed” rating and a $62.00 price objective on the stock. UBS Group cut their target price on shares of Zillow Group from $98.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, DA Davidson lowered their price target on shares of Zillow Group from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.80.

Zillow Group Price Performance

Zillow Group stock opened at $66.76 on Thursday. Zillow Group has a fifty-two week low of $38.40 and a fifty-two week high of $86.58. The firm’s 50 day simple moving average is $66.47 and its 200-day simple moving average is $71.07. The company has a market cap of $16.19 billion, a P/E ratio of -142.04, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). The firm had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $587.88 million. Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, analysts expect that Zillow Group will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zillow Group news, COO Jun Choo sold 1,277 shares of Zillow Group stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total transaction of $99,248.44. Following the sale, the chief operating officer now owns 86,853 shares in the company, valued at $6,750,215.16. The trade was a 1.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jennifer Rock sold 5,796 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $75.50, for a total transaction of $437,598.00. Following the completion of the transaction, the chief accounting officer now owns 51,370 shares of the company’s stock, valued at approximately $3,878,435. This represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,919 shares of company stock worth $5,744,978 in the last ninety days. Insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC raised its stake in Zillow Group by 13.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,191 shares of the technology company’s stock worth $84,000 after acquiring an additional 138 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Zillow Group by 24.0% in the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after purchasing an additional 159 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Zillow Group by 70.2% in the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after purchasing an additional 172 shares during the last quarter. M&T Bank Corp increased its position in shares of Zillow Group by 4.1% during the 1st quarter. M&T Bank Corp now owns 5,437 shares of the technology company’s stock worth $363,000 after purchasing an additional 215 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in Zillow Group by 0.3% during the 1st quarter. Baillie Gifford & Co. now owns 92,289 shares of the technology company’s stock valued at $6,170,000 after purchasing an additional 264 shares during the last quarter. 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.