UBS Group Has Lowered Expectations for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its price target decreased by stock analysts at UBS Group from $50.00 to $48.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. UBS Group‘s price target points to a potential upside of 50.61% from the company’s current price.

Several other research analysts also recently issued reports on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $55.00 price target on shares of Zillow Group in a report on Friday, September 11th. Deutsche Bank Aktiengesellschaft set a $80.00 target price on shares of Zillow Group in a report on Monday, August 24th. Susquehanna decreased their price target on shares of Zillow Group from $50.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Evercore set a $40.00 price target on shares of Zillow Group and gave the company an “in-line” rating in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald lowered their target price on Zillow Group from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Zillow Group presently has a consensus rating of “Hold” and an average price target of $51.10.

Zillow Group Stock Down 3.9%

Shares of ZG stock traded down $1.31 during trading hours on Wednesday, reaching $31.87. The company’s stock had a trading volume of 979,232 shares, compared to its average volume of 1,146,471. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 144.87, a PEG ratio of 1.44 and a beta of 2.02. Zillow Group has a fifty-two week low of $27.25 and a fifty-two week high of $74.80. The firm’s 50 day simple moving average is $32.35 and its 200-day simple moving average is $39.92.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.44 by $0.08. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.25 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. Sell-side analysts predict that Zillow Group will post 0.92 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 3,169 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $35.37, for a total value of $112,087.53. Following the transaction, the insider owned 44,561 shares in the company, valued at approximately $1,576,122.57. This represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,339 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $319,207.02. Following the completion of the sale, the chief executive officer directly owned 138,574 shares of the company’s stock, valued at $4,736,459.32. This trade represents a 6.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 38,539 shares of company stock worth $1,323,800 in the last quarter. Company insiders own 29.88% of the company’s stock.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ninety One SA Pty Ltd bought a new stake in Zillow Group during the 3rd quarter valued at $26,000. Integrated Wealth Concepts LLC acquired a new position in shares of Zillow Group during the second quarter valued at about $29,000. EverSource Wealth Advisors LLC grew its holdings in shares of Zillow Group by 183.6% during the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after buying an additional 637 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Zillow Group by 990.3% during the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock valued at $42,000 after buying an additional 921 shares during the last quarter. Finally, Nykredit A S bought a new stake in shares of Zillow Group during the second quarter worth about $65,000. Institutional investors own 20.32% of the company’s stock.

About Zillow Group

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers, real estate professionals, and other housing industry participants. Its services are designed to help people search for homes, understand property values, connect with agents, and manage transactions throughout the residential real estate process.

The company’s portfolio includes Zillow, Trulia, StreetEasy, HotPads, and ShowingTime+. Zillow provides home listings, estimated property values, rental information, agent connections, mortgage resources, and other housing-related tools.