Piper Sandler Issues Pessimistic Forecast for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its price objective cut by equities research analysts at Piper Sandler from $93.00 to $90.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s target price points to a potential upside of 19.36% from the company’s current price.

A number of other research analysts have also issued reports on ZG. Baird R W upgraded Zillow Group to a “hold” rating in a research report on Friday, January 31st. Susquehanna boosted their price target on Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. KeyCorp upgraded Zillow Group from a “sector weight” rating to an “overweight” rating and set a $100.00 price target for the company in a research report on Monday, February 3rd. Barclays boosted their price target on Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Finally, Benchmark boosted their price objective on Zillow Group from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.00.

Zillow Group Trading Up 0.7 %

NASDAQ:ZG opened at $75.40 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. Zillow Group has a 12-month low of $38.06 and a 12-month high of $86.58. The business has a 50 day simple moving average of $75.63 and a 200 day simple moving average of $65.79. The firm has a market capitalization of $17.61 billion, a P/E ratio of -132.28, a P/E/G ratio of 15.65 and a beta of 2.09.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. Equities research analysts predict that Zillow Group will post -0.42 EPS for the current year.

Insider Transactions at Zillow Group

In related news, COO Jun Choo sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $75.10, for a total transaction of $751,000.00. Following the transaction, the chief operating officer now directly owns 88,130 shares of the company’s stock, valued at approximately $6,618,563. The trade was a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeremy Hofmann sold 7,175 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $85.36, for a total value of $612,458.00. Following the transaction, the chief financial officer now directly owns 99,362 shares in the company, valued at $8,481,540.32. The trade was a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,773 shares of company stock valued at $5,383,314 over the last three months. Company insiders own 17.14% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Farringdon Capital Ltd. acquired a new position in Zillow Group during the fourth quarter valued at $2,764,000. Marshall Wace LLP raised its position in Zillow Group by 19.2% during the fourth quarter. Marshall Wace LLP now owns 29,682 shares of the technology company’s stock valued at $2,103,000 after buying an additional 4,782 shares during the period. NewEdge Advisors LLC purchased a new position in Zillow Group in the fourth quarter valued at about $458,000. CreativeOne Wealth LLC grew its stake in Zillow Group by 4.8% in the fourth quarter. CreativeOne Wealth LLC now owns 188,383 shares of the technology company’s stock valued at $13,347,000 after purchasing an additional 8,683 shares in the last quarter. Finally, Mariner LLC grew its stake in Zillow Group by 18.9% in the fourth quarter. Mariner LLC now owns 8,157 shares of the technology company’s stock valued at $578,000 after purchasing an additional 1,299 shares in the last quarter. 20.32% of the stock is 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.