Zillow Group (NASDAQ:ZG) Given “Outperform” Rating at Royal Bank Of Canada

Zillow Group (NASDAQ:ZG)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank Of Canada in a research note issued on Wednesday,Benzinga reports. They presently have a $95.00 price target on the technology company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 114.85% from the company’s previous close.

Several other research analysts also recently commented on ZG. Canaccord Genuity Group set a $72.00 target price on Zillow Group in a research note on Wednesday, February 11th. Evercore restated an “outperform” rating on shares of Zillow Group in a research note on Tuesday, March 17th. Susquehanna set a $50.00 price target on shares of Zillow Group in a report on Thursday, February 12th. Mizuho set a $65.00 price objective on shares of Zillow Group in a research report on Wednesday, February 11th. Finally, Citigroup dropped their price objective on shares of Zillow Group from $100.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Fourteen 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 stock. Based on data from MarketBeat.com, Zillow Group has an average rating of “Hold” and an average target price of $77.05.

Zillow Group Stock Performance

Shares of Zillow Group stock traded down $0.87 on Wednesday, reaching $44.22. 33,712 shares of the stock were exchanged, compared to its average volume of 1,165,541. The firm’s 50 day moving average is $51.78 and its 200-day moving average is $64.93. Zillow Group has a one year low of $40.69 and a one year high of $90.22. The firm has a market cap of $10.61 billion, a PE ratio of 491.87, a P/E/G ratio of 2.50 and a beta of 2.05.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The firm had revenue of $654.00 million during the quarter, compared to the consensus estimate of $650.40 million. During the same period last year, the business earned $0.27 earnings per share. The business’s revenue was up 18.1% compared to the same quarter last year. On average, equities research analysts expect that Zillow Group will post 0.32 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jeremy Wacksman sold 13,661 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total value of $604,499.25. Following the transaction, the chief executive officer owned 116,322 shares in the company, valued at $5,147,248.50. The trade was a 10.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeremy Hofmann sold 7,786 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total transaction of $340,481.78. Following the sale, the chief financial officer directly owned 57,487 shares in the company, valued at $2,513,906.51. This trade represents a 11.93% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 60,801 shares of company stock worth $2,683,986. 17.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Zillow Group

Large investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Zillow Group during the second quarter worth about $159,770,000. Independent Franchise Partners LLP raised its holdings in shares of Zillow Group by 1.1% in the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock worth $138,135,000 after acquiring an additional 21,862 shares during the last quarter. M&T Bank Corp lifted its position in Zillow Group by 38,344.0% in the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after acquiring an additional 1,600,097 shares in the last quarter. Tiger Global Management LLC lifted its position in Zillow Group by 30.7% in the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock valued at $69,849,000 after acquiring an additional 240,690 shares in the last quarter. Finally, UBS Group AG boosted its stake in Zillow Group by 44.5% during the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after purchasing an additional 313,643 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

About Zillow Group

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.