Zillow Group (NASDAQ:ZG – Free Report) had its price target cut by Wells Fargo & Company from $35.00 to $31.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the technology company’s stock.
Other analysts have also issued research reports about the company. Zacks Research lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. reduced their price objective on Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Cantor Fitzgerald decreased their target price on Zillow Group from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. KeyCorp reissued an “overweight” rating and set a $48.00 target price on shares of Zillow Group in a research note on Tuesday, August 25th. Finally, Citizens Jmp lowered their target price on Zillow Group from $75.00 to $46.00 and set a “market outperform” rating for the company in a research note on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Zillow Group presently has an average rating of “Hold” and an average price target of $51.19.
Get Our Latest Stock Analysis on ZG
Zillow Group Stock Performance
Zillow Group (NASDAQ:ZG – Get Free Report) last announced its earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.08. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The firm had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.25 million. During the same period in the prior year, the firm earned $0.40 EPS. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, research analysts forecast that Zillow Group will post 0.89 EPS for the current fiscal year.
Insider Buying and Selling at Zillow Group
In other news, Director Claire Thielke sold 1,187 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total transaction of $42,387.77. Following the sale, the director owned 2,375 shares of the company’s stock, valued at approximately $84,811.25. This trade represents a 33.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dan Spaulding sold 3,169 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $35.37, for a total value of $112,087.53. Following the completion of the transaction, the insider directly owned 44,561 shares of the company’s stock, valued at $1,576,122.57. This trade represents a 6.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 38,539 shares of company stock worth $1,323,800. 29.88% of the stock is currently owned by corporate insiders.
Institutional Trading of Zillow Group
Several institutional investors have recently modified their holdings of ZG. Engineers Gate Manager LP increased its position in shares of Zillow Group by 1,290.7% during the second quarter. Engineers Gate Manager LP now owns 95,959 shares of the technology company’s stock worth $3,010,000 after purchasing an additional 89,059 shares in the last quarter. Polianta Ltd purchased a new stake in shares of Zillow Group in the 1st quarter valued at about $1,494,000. Independent Franchise Partners LLP boosted its position in shares of Zillow Group by 1.1% in the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after purchasing an additional 21,862 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Zillow Group in the 2nd quarter valued at about $1,614,000. Finally, MFG Wealth Management Inc. acquired a new stake in shares of Zillow Group in the 2nd quarter valued at about $2,146,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.
Zillow Group Company Profile
Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms designed to help consumers buy, sell, rent and finance homes. Founded in 2006 and headquartered in Seattle, Washington, the company serves the U.S. residential real estate market through a portfolio of well-known brands.
Its flagship Zillow platform provides home listings, property information, estimated home values through its Zestimate tool, rental listings, mortgage resources and connections to real estate professionals.
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