UBS Group Issues Positive Forecast for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its price objective hoisted by UBS Group from $90.00 to $98.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

ZG has been the subject of several other reports. Royal Bank of Canada upped their target price on shares of Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Susquehanna upped their price objective on Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. The Goldman Sachs Group raised their price objective on Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler boosted their target price on Zillow Group from $73.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Craig Hallum increased their price target on shares of Zillow Group from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.06.

Zillow Group Stock Performance

ZG stock opened at $78.40 on Monday. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. The firm has a market cap of $18.31 billion, a PE ratio of -137.54, a P/E/G ratio of 10.31 and a beta of 2.09. The business has a 50 day moving average of $75.28 and a 200-day moving average of $63.13. Zillow Group has a 12-month low of $38.06 and a 12-month high of $83.67.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $581.00 million during the quarter, compared to analyst estimates of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) earnings per share. As a group, sell-side analysts expect that Zillow Group will post -0.36 earnings per share for the current year.

Insider Transactions at Zillow Group

In related news, CTO David A. Beitel sold 56,750 shares of Zillow Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.39, for a total value of $4,108,132.50. Following the completion of the sale, the chief technology officer now directly owns 92 shares in the company, valued at approximately $6,659.88. This trade represents a 99.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Bradley D. Owens sold 1,212 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total transaction of $89,663.76. Following the sale, the general counsel now directly owns 31,739 shares in the company, valued at approximately $2,348,051.22. The trade was a 3.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 139,689 shares of company stock worth $10,395,879. Corporate insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of Zillow Group by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock worth $19,901,000 after purchasing an additional 35,503 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Zillow Group by 9.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,669 shares of the technology company’s stock valued at $210,000 after buying an additional 421 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Zillow Group by 155.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 73,933 shares of the technology company’s stock worth $3,330,000 after buying an additional 44,959 shares during the period. Scientech Research LLC purchased a new stake in Zillow Group in the 2nd quarter worth $211,000. Finally, Garde Capital Inc. raised its holdings in Zillow Group by 132.7% during the second quarter. Garde Capital Inc. now owns 139,805 shares of the technology company’s stock valued at $6,297,000 after acquiring an additional 79,733 shares during the period. Institutional investors 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.