Zillow Group (NASDAQ:ZG) Price Target Raised to $70.00 at Piper Sandler

Zillow Group (NASDAQ:ZGFree Report) had its price target boosted by Piper Sandler from $58.00 to $70.00 in a report issued on Thursday, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other research analysts also recently commented on the stock. JMP Securities restated a market outperform rating and set a $60.00 price objective on shares of Zillow Group in a research report on Thursday, January 18th. Susquehanna lowered their price objective on shares of Zillow Group from $50.00 to $36.00 and set a neutral rating for the company in a research report on Friday, November 3rd. Bank of America downgraded shares of Zillow Group from a buy rating to a neutral rating in a research report on Wednesday, January 10th. Royal Bank of Canada boosted their price objective on shares of Zillow Group from $60.00 to $66.00 and gave the company an outperform rating in a research report on Tuesday. Finally, Benchmark boosted their target price on shares of Zillow Group from $57.00 to $60.00 and gave the stock a buy rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $53.68.

Read Our Latest Stock Report on Zillow Group

Zillow Group Stock Up 2.8 %

NASDAQ ZG opened at $56.63 on Thursday. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.23. Zillow Group has a 1-year low of $33.23 and a 1-year high of $58.82. The company has a 50 day moving average of $51.41 and a 200-day moving average of $47.59.

Zillow Group (NASDAQ:ZGGet Free Report) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.18. Zillow Group had a negative net margin of 8.24% and a negative return on equity of 2.30%. The company had revenue of $496.00 million during the quarter, compared to the consensus estimate of $484.44 million. As a group, equities research analysts expect that Zillow Group will post -0.65 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other news, General Counsel Bradley D. Owens sold 1,227 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $40.86, for a total transaction of $50,135.22. Following the transaction, the general counsel now owns 22,809 shares in the company, valued at $931,975.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Jennifer Rock sold 2,222 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $45.19, for a total transaction of $100,412.18. Following the transaction, the chief accounting officer now owns 63,736 shares in the company, valued at $2,880,229.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Bradley D. Owens sold 1,227 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $40.86, for a total transaction of $50,135.22. Following the transaction, the general counsel now owns 22,809 shares in the company, valued at approximately $931,975.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,923 shares of company stock valued at $2,899,105. 17.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently made changes to their positions in ZG. Norges Bank acquired a new stake in shares of Zillow Group in the 4th quarter worth about $59,032,000. Bank of Montreal Can acquired a new stake in shares of Zillow Group in the 2nd quarter worth about $18,130,000. BlackRock Inc. raised its holdings in shares of Zillow Group by 16.0% in the 3rd quarter. BlackRock Inc. now owns 2,489,506 shares of the technology company’s stock worth $71,275,000 after acquiring an additional 343,693 shares during the last quarter. State of Wisconsin Investment Board purchased a new stake in Zillow Group in the 4th quarter valued at about $10,502,000. Finally, Qube Research & Technologies Ltd increased its stake in Zillow Group by 50.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock valued at $42,397,000 after buying an additional 317,683 shares during the last quarter. Institutional investors and hedge funds own 18.94% of the company’s stock.

Zillow Group Company Profile

(Get Free Report)

Zillow Group, Inc operates real estate brands on mobile applications and Websites in the United States. The company operates through Internet, Media & Technology (IMT); Mortgages; and Homes segments. Its IMT segment offers premier agent and rentals marketplaces, as well as other services, which includes new construction marketplace, advertising, and business technology solutions, as well as display and dotloop and floor plans.

Further Reading

Analyst Recommendations for Zillow Group (NASDAQ:ZG)

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