Zillow Group (NASDAQ:ZG) Price Target Raised to $80.00

Zillow Group (NASDAQ:ZG) had its price target upped by DA Davidson from $75.00 to $80.00 in a research note released on Wednesday morning,Benzinga reports. DA Davidson currently has a buy rating on the technology company’s stock.

ZG has been the topic of a number of other research reports. Royal Bank of Canada raised their target price on Zillow Group from $66.00 to $74.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $47.00 price objective on shares of Zillow Group in a research note on Monday, October 7th. Evercore ISI upped their target price on shares of Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group raised their price target on shares of Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, JMP Securities upped their price objective on shares of Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Zillow Group Stock Performance

ZG stock opened at $68.38 on Wednesday. The firm has a 50 day moving average of $73.70 and a two-hundred day moving average of $60.51. Zillow Group has a 12 month low of $38.06 and a 12 month high of $83.67. The company has a market capitalization of $15.97 billion, a price-to-earnings ratio of -119.96 and a beta of 2.09. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $581.00 million during the quarter, compared to analysts’ expectations of $555.45 million. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. As a group, equities analysts anticipate that Zillow Group will post -0.34 EPS for the current fiscal year.

Insider Activity

In related news, CTO David A. Beitel sold 56,750 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $72.39, for a total transaction of $4,108,132.50. Following the sale, the chief technology officer now owns 92 shares of the company’s stock, valued at approximately $6,659.88. This trade represents a 99.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jennifer Rock sold 3,033 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $82.78, for a total value of $251,071.74. Following the completion of the transaction, the chief accounting officer now directly owns 57,166 shares of the company’s stock, valued at approximately $4,732,201.48. The trade was a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 139,689 shares of company stock valued at $10,395,879 in the last 90 days. 17.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zillow Group

Several large investors have recently made changes to their positions in the stock. Versant Capital Management Inc acquired a new position in Zillow Group during the 4th quarter worth approximately $72,000. JPMorgan Chase & Co. lifted its position in shares of Zillow Group by 155.4% in the third quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company’s stock worth $2,060,000 after purchasing an additional 20,238 shares in the last quarter. Virtu Financial LLC boosted its holdings in Zillow Group by 132.1% during the third quarter. Virtu Financial LLC now owns 208,773 shares of the technology company’s stock worth $12,929,000 after purchasing an additional 118,830 shares during the last quarter. Synergy Financial Group LTD bought a new position in Zillow Group in the third quarter valued at $271,000. Finally, Geode Capital Management LLC grew its position in Zillow Group by 3.3% in the third quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock valued at $63,523,000 after purchasing an additional 32,766 shares in the last quarter. 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.