Royal Bank of Canada Reiterates Outperform Rating for Zillow Group (NASDAQ:ZG)

Zillow Group (NASDAQ:ZG)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a report released on Tuesday, Benzinga reports. They currently have a $66.00 target price on the technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 14.70% from the company’s previous close.

A number of other analysts have also recently commented on ZG. Barclays upped their price target on Zillow Group from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. UBS Group increased their target price on shares of Zillow Group from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Craig Hallum boosted their price target on shares of Zillow Group from $51.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $47.00 price objective on shares of Zillow Group in a research report on Monday, October 7th. Finally, DA Davidson lifted their target price on Zillow Group from $52.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.53.

Zillow Group Trading Down 1.9 %

Shares of Zillow Group stock opened at $57.54 on Tuesday. Zillow Group has a 12-month low of $33.23 and a 12-month high of $66.75. The stock has a market capitalization of $13.59 billion, a P/E ratio of -85.01 and a beta of 2.01. The company has a 50-day simple moving average of $57.94 and a 200 day simple moving average of $49.11. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

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

Insiders Place Their Bets

In other news, General Counsel Bradley D. Owens sold 752 shares of Zillow Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total transaction of $39,953.76. Following the completion of the sale, the general counsel now owns 35,259 shares of the company’s stock, valued at approximately $1,873,310.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Jennifer Rock sold 4,050 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $49.23, for a total value of $199,381.50. Following the completion of the transaction, the chief accounting officer now owns 79,694 shares of the company’s stock, valued at $3,923,335.62. 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 through this link. Also, General Counsel Bradley D. Owens sold 752 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total transaction of $39,953.76. Following the sale, the general counsel now owns 35,259 shares in the company, valued at $1,873,310.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,999 shares of company stock worth $11,780,363 over the last three months. Insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

A number of large investors have recently modified their holdings of ZG. Vanguard Group Inc. lifted its holdings in shares of Zillow Group by 27.4% in the fourth quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock worth $456,861,000 after acquiring an additional 1,730,731 shares during the last quarter. Principal Financial Group Inc. bought a new position in Zillow Group in the 1st quarter valued at approximately $219,000. Naples Money Management LLC acquired a new stake in Zillow Group in the first quarter valued at approximately $1,230,000. Fidelis Capital Partners LLC acquired a new stake in Zillow Group in the first quarter valued at approximately $32,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Zillow Group during the first quarter worth $84,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.