Zillow Group (NASDAQ:ZG) Given New $60.00 Price Target at Royal Bank of Canada

Zillow Group (NASDAQ:ZG) had its price target lowered by Royal Bank of Canada from $66.00 to $60.00 in a report published on Thursday, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

A number of other brokerages also recently issued reports on ZG. Canaccord Genuity Group decreased their price target on Zillow Group from $58.00 to $50.00 and set a hold rating for the company in a report on Monday, April 29th. Benchmark restated a buy rating and set a $60.00 price target on shares of Zillow Group in a research report on Tuesday. Barclays upped their price objective on shares of Zillow Group from $32.00 to $40.00 and gave the stock an underweight rating in a research report on Wednesday, February 21st. Piper Sandler raised their target price on Zillow Group from $70.00 to $72.00 and gave the company an overweight rating in a research report on Wednesday, February 14th. Finally, Stephens reaffirmed an overweight rating and issued a $79.00 price target on shares of Zillow Group in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Zillow Group currently has a consensus rating of Moderate Buy and a consensus price target of $57.25.

Zillow Group Stock Up 2.2 %

ZG stock opened at $40.07 on Thursday. The company has a market capitalization of $9.36 billion, a P/E ratio of -58.07 and a beta of 1.87. Zillow Group has a 12 month low of $33.23 and a 12 month high of $59.23. The firm’s fifty day simple moving average is $47.44 and its 200-day simple moving average is $47.55. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.32 and a quick ratio of 3.24.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.27) EPS 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 net margin of 7.93% and a negative return on equity of 2.28%. As a group, equities research analysts forecast that Zillow Group will post -0.18 earnings per share for the current year.

Insider Activity

In other Zillow Group news, insider Dan Spaulding sold 3,086 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $58.00, for a total value of $178,988.00. Following the transaction, the insider now directly owns 48,294 shares of the company’s stock, valued at approximately $2,801,052. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Errol G. Samuelson sold 4,219 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total value of $209,262.40. Following the transaction, the insider now directly owns 168,863 shares in the company, valued at $8,375,604.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dan Spaulding sold 3,086 shares of Zillow Group stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $58.00, for a total value of $178,988.00. Following the completion of the sale, the insider now owns 48,294 shares in the company, valued at approximately $2,801,052. The disclosure for this sale can be found here. Insiders sold 171,289 shares of company stock worth $9,642,508 over the last three months. Insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Treasurer of the State of North Carolina increased its holdings in Zillow Group by 0.9% in the 4th quarter. Treasurer of the State of North Carolina now owns 24,511 shares of the technology company’s stock valued at $1,390,000 after purchasing an additional 230 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Zillow Group by 45.1% in the 4th quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock valued at $43,000 after buying an additional 237 shares during the period. Nisa Investment Advisors LLC lifted its stake in Zillow Group by 1.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 22,100 shares of the technology company’s stock worth $1,254,000 after acquiring an additional 250 shares in the last quarter. Ieq Capital LLC boosted its holdings in Zillow Group by 2.3% during the 3rd quarter. Ieq Capital LLC now owns 12,955 shares of the technology company’s stock valued at $580,000 after acquiring an additional 286 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Zillow Group by 2.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,542 shares of the technology company’s stock valued at $882,000 after acquiring an additional 360 shares during the period. 20.32% of the stock is 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.