Zillow Group, Inc. (NASDAQ:ZG – Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $38.30 and last traded at $39.3180, with a volume of 99233 shares. The stock had previously closed at $39.84.
Analysts Set New Price Targets
ZG has been the subject of several analyst reports. Robert W. Baird reduced their price objective on Zillow Group from $67.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. The Goldman Sachs Group set a $53.00 target price on Zillow Group in a report on Thursday, May 7th. Barclays cut their price target on Zillow Group from $58.00 to $54.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Cantor Fitzgerald decreased their price target on Zillow Group from $56.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Finally, Zacks Research raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.24.
Read Our Latest Stock Report on Zillow Group
Zillow Group Price Performance
Zillow Group (NASDAQ:ZG – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The firm had revenue of $708.00 million for the quarter, compared to analysts’ expectations of $705.17 million. During the same period in the prior year, the company earned $0.41 EPS. The firm’s revenue was up 18.4% on a year-over-year basis. As a group, research analysts predict that Zillow Group, Inc. will post 0.82 EPS for the current fiscal year.
Insiders Place Their Bets
In other Zillow Group news, insider Dan Spaulding sold 5,361 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $43.95, for a total value of $235,615.95. Following the completion of the transaction, the insider directly owned 41,080 shares in the company, valued at approximately $1,805,466. The trade was a 11.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeremy Hofmann sold 7,786 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total value of $340,481.78. Following the completion of the transaction, the chief financial officer owned 57,487 shares of the company’s stock, valued at $2,513,906.51. The trade was a 11.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 26,808 shares of company stock valued at $1,180,597. Company insiders own 29.88% of the company’s stock.
Institutional Investors Weigh In On Zillow Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aberdeen Group plc acquired a new stake in Zillow Group during the 3rd quarter worth approximately $2,529,000. Y Intercept Hong Kong Ltd purchased a new stake in Zillow Group during the third quarter worth approximately $1,443,000. Tabor Asset Management LP acquired a new stake in shares of Zillow Group in the third quarter worth $2,428,000. M&T Bank Corp increased its position in shares of Zillow Group by 38,344.0% in the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after acquiring an additional 1,600,097 shares in the last quarter. Finally, Emmett Investment Management LP purchased a new position in shares of Zillow Group in the 3rd quarter valued at $2,860,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.
About Zillow Group
Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.
Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.
Read More
- Five stocks we like better than Zillow Group
- Aeluma’s Post-Earnings Dip Creates a Buying Opportunity
- Be Ready: 3 Upcoming Catalysts Could Drive Oracle to Record Highs
- 2 Ways to Play the Big Pharma Patent Cliff
- YETI Rallies After Earnings Beat and Raised Outlook
Receive News & Ratings for Zillow Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zillow Group and related companies with MarketBeat.com's FREE daily email newsletter.
