Zillow Group (NASDAQ:ZG – Get Free Report) had its price target cut by analysts at Citigroup from $52.00 to $42.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Citigroup‘s price objective would suggest a potential upside of 34.69% from the company’s current price.
A number of other equities analysts also recently commented on the company. Citizens Jmp dropped their price objective on Zillow Group from $46.00 to $40.00 and set a “market outperform” rating on the stock in a report on Thursday. Weiss Ratings reiterated a “sell (d)” rating on shares of Zillow Group in a research note on Wednesday, August 19th. JPMorgan Chase & Co. decreased their target price on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Evercore restated a “reduce” rating and set a $35.00 price target on shares of Zillow Group in a research note on Thursday. Finally, Zacks Research downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group has an average rating of “Hold” and a consensus price target of $47.67.
Get Our Latest Stock Report on ZG
Zillow Group Stock Performance
Shares of NASDAQ ZG traded up $0.82 during mid-day trading on Monday, reaching $31.18. The company had a trading volume of 480,446 shares, compared to its average volume of 1,162,817. Zillow Group has a twelve month low of $27.25 and a twelve month high of $74.80. The stock has a market capitalization of $7.01 billion, a PE ratio of -59.88, a price-to-earnings-growth ratio of 1.30 and a beta of 1.95. The stock’s 50 day moving average is $31.60 and its 200-day moving average is $38.51.
Zillow Group (NASDAQ:ZG – Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). Zillow Group had a negative net margin of 3.95% and a positive return on equity of 3.23%. The firm had revenue of $724.00 million for the quarter, compared to analyst estimates of $753.66 million. During the same period in the previous year, the business posted $0.44 EPS. Zillow Group’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, sell-side analysts anticipate that Zillow Group will post 0.91 EPS for the current year.
Insider Transactions at Zillow Group
In other Zillow Group news, CFO Jeremy Hofmann sold 5,661 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.18, for a total transaction of $193,492.98. Following the transaction, the chief financial officer owned 59,144 shares in the company, valued at $2,021,541.92. This trade represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dan Spaulding sold 3,169 shares of Zillow Group stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $35.37, for a total transaction of $112,087.53. Following the completion of the transaction, the insider directly owned 44,561 shares in the company, valued at approximately $1,576,122.57. This represents a 6.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 38,539 shares of company stock worth $1,323,800. 29.88% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of ZG. Integrated Wealth Concepts LLC bought a new position in Zillow Group during the second quarter worth $29,000. Ninety One SA Pty Ltd acquired a new position in Zillow Group during the 3rd quarter valued at $26,000. EverSource Wealth Advisors LLC boosted its holdings in Zillow Group by 183.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after purchasing an additional 637 shares during the period. Fifth Third Bancorp boosted its holdings in Zillow Group by 990.3% in the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock valued at $42,000 after purchasing an additional 921 shares during the period. Finally, Nykredit A S bought a new stake in shares of Zillow Group in the second quarter valued at about $65,000. Institutional investors and hedge funds own 20.32% of the company’s stock.
Zillow Group Company Profile
Zillow Group, Inc operates a digital real estate marketplace focused primarily on the United States. Its websites and mobile apps help consumers find homes for sale and rent, explore neighborhood information, and research home values.
The company’s brands include Zillow, Trulia, StreetEasy and HotPads. Zillow Group also provides services for real estate professionals, including advertising and customer-management tools, and offers mortgage services through Zillow Home Loans.
Zillow launched in 2006, founded by Rich Barton and Lloyd Frink, and grew into a parent company with multiple real estate brands and services.
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