Zillow Group (NASDAQ:ZG) Receives “Market Outperform” Rating from JMP Securities

Zillow Group (NASDAQ:ZG)‘s stock had its “market outperform” rating restated by equities researchers at JMP Securities in a report issued on Wednesday, Benzinga reports. They currently have a $62.00 target price on the technology company’s stock. JMP Securities’ price objective would indicate a potential upside of 5.86% from the company’s previous close.

Other analysts have also issued reports about the stock. DA Davidson increased their price objective on shares of Zillow Group from $52.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Craig Hallum raised their target price on shares of Zillow Group from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. UBS Group raised their target price on shares of Zillow Group from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada raised their target price on shares of Zillow Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $47.00 target price on shares of Zillow Group in a research report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.94.

Zillow Group Price Performance

Shares of Zillow Group stock traded down $1.78 during trading hours on Wednesday, reaching $58.57. The company’s stock had a trading volume of 178,631 shares, compared to its average volume of 634,767. The firm has a 50 day moving average price of $54.99 and a 200-day moving average price of $48.19. Zillow Group has a one year low of $33.23 and a one year high of $66.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a market cap of $13.56 billion, a P/E ratio of -85.16 and a beta of 2.01.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.31 by $0.08. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The company had revenue of $572.00 million for the quarter, compared to the consensus estimate of $538.36 million. During the same period in the prior year, the firm posted ($0.05) EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. On average, analysts predict that Zillow Group will post -0.33 EPS for the current year.

Insider Buying and Selling at Zillow Group

In other news, insider Dan Spaulding sold 2,991 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $53.18, for a total transaction of $159,061.38. Following the completion of the sale, the insider now owns 70,342 shares of the company’s stock, valued at $3,740,787.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Dan Spaulding sold 2,991 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $53.18, for a total transaction of $159,061.38. Following the transaction, the insider now directly owns 70,342 shares in the company, valued at approximately $3,740,787.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Susan Daimler sold 3,484 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total transaction of $188,763.12. Following the transaction, the insider now owns 22,464 shares in the company, valued at $1,217,099.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 221,999 shares of company stock valued at $11,780,363. Corporate insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC boosted its holdings in Zillow Group by 18.6% in the 3rd quarter. CWM LLC now owns 34,258 shares of the technology company’s stock valued at $2,122,000 after purchasing an additional 5,377 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in Zillow Group in the 3rd quarter valued at about $29,000. GAMMA Investing LLC boosted its holdings in Zillow Group by 86.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after purchasing an additional 561 shares during the last quarter. Garde Capital Inc. boosted its holdings in Zillow Group by 132.7% in the 2nd quarter. Garde Capital Inc. now owns 139,805 shares of the technology company’s stock valued at $6,297,000 after purchasing an additional 79,733 shares during the last quarter. Finally, Scientech Research LLC acquired a new position in Zillow Group in the 2nd quarter valued at about $211,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

About Zillow Group

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.