Canaccord Genuity Group Cuts Zillow Group (NASDAQ:ZG) Price Target to $50.00

Zillow Group (NASDAQ:ZG) had its price objective reduced by Canaccord Genuity Group from $58.00 to $50.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a hold rating on the technology company’s stock.

Other analysts have also issued reports about the stock. DA Davidson reiterated a buy rating and issued a $63.00 price target on shares of Zillow Group in a research report on Friday, April 5th. Benchmark increased their target price on Zillow Group from $57.00 to $60.00 and gave the company a buy rating in a report on Thursday, January 25th. Piper Sandler upped their price objective on Zillow Group from $70.00 to $72.00 and gave the company an overweight rating in a research report on Wednesday, February 14th. Susquehanna lifted their price objective on Zillow Group from $36.00 to $60.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Finally, Stephens restated an overweight rating and issued a $79.00 target price on shares of Zillow Group in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $58.20.

Zillow Group Price Performance

Zillow Group stock opened at $43.11 on Monday. 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 has a 1-year low of $33.23 and a 1-year high of $59.23. The stock’s 50 day moving average price is $48.30 and its 200 day moving average price is $47.65.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.06. The company had revenue of $474.00 million for the quarter, compared to analyst estimates of $450.75 million. Zillow Group had a negative return on equity of 2.32% and a negative net margin of 8.12%. Equities analysts anticipate that Zillow Group will post -0.15 EPS for the current year.

Insiders Place Their Bets

In other Zillow Group news, insider Errol G. Samuelson sold 4,219 shares of Zillow Group stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total transaction of $209,262.40. Following the transaction, the insider now directly owns 168,863 shares of the company’s stock, valued at $8,375,604.80. The sale was disclosed in a filing with the SEC, which is available at this link. In other Zillow Group news, insider Errol G. Samuelson sold 4,219 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 168,863 shares of the company’s stock, valued at $8,375,604.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dan Spaulding sold 5,114 shares of Zillow Group stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $55.45, for a total transaction of $283,571.30. Following the sale, the insider now owns 43,180 shares in the company, valued at approximately $2,394,331. The disclosure for this sale can be found here. Insiders have sold a total of 171,289 shares of company stock valued at $9,642,508 over the last quarter. Company insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its stake in shares of Zillow Group by 3,675.7% in the fourth quarter. CWM LLC now owns 46,139 shares of the technology company’s stock worth $2,617,000 after buying an additional 44,917 shares during the last quarter. Qube Research & Technologies Ltd increased its position in shares of Zillow Group by 50.5% in the 3rd 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 last quarter. Nisa Investment Advisors LLC lifted its position in shares of Zillow Group by 1.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 22,100 shares of the technology company’s stock worth $1,254,000 after purchasing an additional 250 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Zillow Group in the fourth quarter worth about $1,305,000. Finally, Amalgamated Bank increased its holdings in Zillow Group by 70.1% in the third quarter. Amalgamated Bank now owns 14,188 shares of the technology company’s stock valued at $635,000 after buying an additional 5,847 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.