Zillow Group (NASDAQ:ZG) PT Lowered to $62.00

Zillow Group (NASDAQ:ZG) had its price objective decreased by JMP Securities from $68.00 to $62.00 in a report published on Thursday, Benzinga reports. JMP Securities currently has a market outperform rating on the technology company’s stock.

ZG has been the subject of a number of other research reports. Stephens reaffirmed an overweight rating and set a $79.00 target price on shares of Zillow Group in a report on Wednesday, February 14th. Susquehanna increased their target price on Zillow Group from $36.00 to $60.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Canaccord Genuity Group decreased their target price on Zillow Group from $58.00 to $50.00 and set a hold rating for the company in a research report on Monday. Craig Hallum lowered their price target on Zillow Group from $65.00 to $51.00 and set a buy rating for the company in a research note on Thursday. Finally, Benchmark reissued a buy rating and set a $60.00 price objective on shares of Zillow Group in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $57.25.

Zillow Group Trading Up 2.2 %

Shares of ZG stock traded up $0.88 on Thursday, reaching $40.07. 900,504 shares of the stock were exchanged, compared to its average volume of 698,495. The stock has a 50 day moving average price of $47.67 and a 200 day moving average price of $47.55. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.24 and a quick ratio of 3.24. The stock has a market cap of $9.36 billion, a PE ratio of -58.07 and a beta of 1.87. Zillow Group has a one year low of $33.23 and a one year high of $59.23.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.06. Zillow Group had a negative net margin of 7.93% and a negative return on equity of 2.30%. The company had revenue of $474.00 million for the quarter, compared to the consensus estimate of $450.75 million. Equities research analysts forecast that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Activity

In other Zillow Group news, Director Amy Bohutinsky sold 93,750 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the completion of the transaction, the director now owns 5,652 shares of the company’s stock, valued at approximately $320,411.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Zillow Group news, Director Amy Bohutinsky sold 93,750 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the sale, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $320,411.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Errol G. Samuelson sold 4,219 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total value of $209,262.40. Following the completion of the transaction, the insider now owns 168,863 shares of the company’s stock, valued at approximately $8,375,604.80. The disclosure for this sale can be found here. Insiders have sold a total of 171,289 shares of company stock worth $9,642,508 over the last three months. Corporate insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently made changes to their positions in ZG. CWM LLC increased its stake in shares of Zillow Group by 100.0% during the 3rd quarter. CWM LLC now owns 1,222 shares of the technology company’s stock worth $55,000 after purchasing an additional 611 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Zillow Group by 33.1% in the third quarter. Commonwealth Equity Services LLC now owns 9,003 shares of the technology company’s stock valued at $403,000 after buying an additional 2,237 shares during the period. AtonRa Partners acquired a new stake in shares of Zillow Group in the third quarter valued at approximately $206,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Zillow Group by 215.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,252 shares of the technology company’s stock worth $414,000 after acquiring an additional 6,320 shares during the period. Finally, Aubrey Capital Management Ltd increased its holdings in shares of Zillow Group by 16.4% during the 3rd quarter. Aubrey Capital Management Ltd now owns 61,123 shares of the technology company’s stock worth $2,738,000 after acquiring an additional 8,600 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.