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

Zillow Group (NASDAQ:ZG)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a research note issued on Wednesday,Benzinga reports. They currently have a $88.00 price target on the technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 16.71% from the company’s previous close.

Several other research firms also recently weighed in on ZG. Canaccord Genuity Group boosted their price target on Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a research note on Monday, December 2nd. Piper Sandler dropped their price target on Zillow Group from $93.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday. Stephens reiterated an “overweight” rating and set a $73.00 price target on shares of Zillow Group in a research note on Wednesday. The Goldman Sachs Group boosted their price target on Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Susquehanna upped their target price on Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Zillow Group Stock Up 0.7 %

Shares of ZG stock opened at $75.40 on Wednesday. Zillow Group has a 1-year low of $38.06 and a 1-year high of $86.58. The stock’s fifty day moving average price is $75.63 and its 200 day moving average price is $65.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. The company has a market cap of $17.61 billion, a price-to-earnings ratio of -132.28, a price-to-earnings-growth ratio of 15.65 and a beta of 2.09.

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

Insider Buying and Selling at Zillow Group

In other news, insider Errol G. Samuelson sold 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $73.57, for a total value of $1,250,690.00. Following the completion of the sale, the insider now directly owns 22,739 shares in the company, valued at $1,672,908.23. This represents a 42.78 % 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. Also, CFO Jeremy Hofmann sold 1,612 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total value of $136,987.76. Following the completion of the sale, the chief financial officer now owns 99,362 shares of the company’s stock, valued at $8,443,782.76. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,773 shares of company stock valued at $5,383,314 over the last quarter. 17.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zillow Group

A number of large investors have recently made changes to their positions in ZG. GAMMA Investing LLC grew its position in shares of Zillow Group by 86.7% in the third 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 in the last quarter. Creative Planning grew its position in shares of Zillow Group by 7.2% in the third quarter. Creative Planning now owns 6,537 shares of the technology company’s stock valued at $405,000 after purchasing an additional 439 shares in the last quarter. Vontobel Holding Ltd. grew its position in Zillow Group by 4.8% in the third quarter. Vontobel Holding Ltd. now owns 16,407 shares of the technology company’s stock worth $1,016,000 after acquiring an additional 750 shares during the period. Private Advisor Group LLC purchased a new position in Zillow Group in the third quarter worth approximately $747,000. Finally, Avitas Wealth Management LLC purchased a new position in Zillow Group in the third quarter worth approximately $1,562,000. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

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.