Zillow Group (NASDAQ:ZG) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Zillow Group (NASDAQ:ZG) in a report released on Friday, Benzinga reports. They currently have a $68.00 price target on the technology company’s stock.

Several other research analysts have also recently commented on the company. Bank of America cut Zillow Group from a buy rating to a neutral rating in a research note on Wednesday, January 10th. Benchmark boosted their price target on Zillow Group from $57.00 to $60.00 and gave the stock a buy rating in a research note on Thursday, January 25th. DA Davidson reiterated a buy rating and issued a $63.00 price target on shares of Zillow Group in a research note on Friday, April 5th. Piper Sandler boosted their price target on Zillow Group from $70.00 to $72.00 and gave the stock an overweight rating in a research note on Wednesday, February 14th. Finally, Susquehanna boosted their price target on Zillow Group from $36.00 to $60.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Zillow Group has a consensus rating of Moderate Buy and a consensus price target of $58.79.

Zillow Group Trading Down 1.6 %

Shares of ZG opened at $43.71 on Friday. The stock’s 50-day moving average is $50.92 and its two-hundred day moving average is $47.68. Zillow Group has a 12 month low of $33.23 and a 12 month high of $59.23. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.24 and a current ratio of 3.24.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.06. The company had revenue of $474.00 million for the quarter, compared to analysts’ expectations of $450.75 million. Zillow Group had a negative return on equity of 2.32% and a negative net margin of 8.12%. On average, research analysts anticipate that Zillow Group will post -0.15 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Bradley D. Owens sold 966 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total transaction of $56,037.66. Following the completion of the transaction, the general counsel now directly owns 17,181 shares of the company’s stock, valued at $996,669.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Bradley D. Owens sold 966 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total transaction of $56,037.66. Following the completion of the transaction, the general counsel now directly owns 17,181 shares in the company, valued at $996,669.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dan Spaulding sold 3,086 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $58.00, for a total value of $178,988.00. Following the transaction, the insider now owns 48,294 shares of the company’s stock, valued at $2,801,052. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,289 shares of company stock valued at $9,642,508. 17.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently made changes to their positions in ZG. Norges Bank acquired a new stake in Zillow Group in the fourth quarter worth approximately $59,032,000. Vanguard Group Inc. lifted its position in Zillow Group by 27.4% in the fourth quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock worth $456,861,000 after purchasing an additional 1,730,731 shares during the period. BlackRock Inc. lifted its position in Zillow Group by 16.0% in the third quarter. BlackRock Inc. now owns 2,489,506 shares of the technology company’s stock worth $71,275,000 after purchasing an additional 343,693 shares during the period. State of Wisconsin Investment Board acquired a new stake in Zillow Group in the fourth quarter worth approximately $10,502,000. Finally, Qube Research & Technologies Ltd lifted its position in Zillow Group by 50.5% in the third quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock worth $42,397,000 after purchasing an additional 317,683 shares during the period. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Company Profile

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.