Zillow Group (NASDAQ:ZG) Price Target Cut to $85.00 by Analysts at DA Davidson

Zillow Group (NASDAQ:ZG) had its price target lowered by investment analysts at DA Davidson from $90.00 to $85.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. DA Davidson’s target price suggests a potential upside of 27.28% from the stock’s current price.

ZG has been the subject of a number of other research reports. Stephens reaffirmed an “overweight” rating and set a $73.00 target price on shares of Zillow Group in a report on Wednesday, February 12th. Benchmark upped their price objective on shares of Zillow Group from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Baird R W raised shares of Zillow Group to a “hold” rating in a research note on Friday, January 31st. Citigroup lowered their target price on Zillow Group from $98.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, Cantor Fitzgerald increased their price target on Zillow Group from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.80.

Zillow Group Trading Up 0.0 %

Shares of Zillow Group stock opened at $66.78 on Thursday. Zillow Group has a twelve month low of $38.40 and a twelve month high of $86.58. The firm has a market capitalization of $16.20 billion, a PE ratio of -142.09, a P/E/G ratio of 8.90 and a beta of 2.22. The firm’s 50-day moving average price is $66.35 and its 200 day moving average price is $71.13.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, May 7th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. The firm had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $587.88 million. During the same quarter last year, the business earned $0.36 EPS. The business’s revenue was up 13.0% compared to the same quarter last year. On average, sell-side analysts predict that Zillow Group will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Errol G. Samuelson sold 2,854 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $73.34, for a total value of $209,312.36. Following the completion of the transaction, the insider now owns 142,636 shares of the company’s stock, valued at approximately $10,460,924.24. This trade represents a 1.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jun Choo sold 55,000 shares of Zillow Group stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the completion of the transaction, the chief operating officer now owns 86,853 shares of the company’s stock, valued at $6,790,167.54. This trade represents a 38.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,919 shares of company stock worth $5,744,978 over the last ninety days. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Zillow Group by 155.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company’s stock worth $2,060,000 after acquiring an additional 20,238 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Zillow Group by 28.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company’s stock worth $1,753,000 after purchasing an additional 5,539 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Zillow Group by 136.3% during the fourth quarter. Victory Capital Management Inc. now owns 22,982 shares of the technology company’s stock worth $1,628,000 after purchasing an additional 13,255 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in Zillow Group by 4.9% in the fourth quarter. Vontobel Holding Ltd. now owns 17,208 shares of the technology company’s stock valued at $1,219,000 after buying an additional 801 shares during the last quarter. Finally, Sterling Capital Management LLC raised its stake in Zillow Group by 57.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,825 shares of the technology company’s stock valued at $200,000 after buying an additional 1,032 shares in the last quarter. 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.