Zillow Group (NASDAQ:ZG) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Zillow Group (NASDAQ:ZG) had its price target hoisted by equities researchers at Cantor Fitzgerald from $62.00 to $70.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Cantor Fitzgerald’s price objective would suggest a potential downside of 7.16% from the company’s previous close.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group upped their target price on shares of Zillow Group from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. KeyCorp raised shares of Zillow Group from a “sector weight” rating to an “overweight” rating and set a $100.00 price target on the stock in a report on Monday, February 3rd. Barclays increased their price target on shares of Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Robert W. Baird initiated coverage on shares of Zillow Group in a report on Friday, January 31st. They issued a “neutral” rating and a $88.00 price target on the stock. Finally, JMP Securities increased their price target on shares of Zillow Group from $82.00 to $92.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

Zillow Group Stock Performance

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

Zillow Group (NASDAQ:ZG) last posted its earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share 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%. On average, sell-side analysts anticipate that Zillow Group will post -0.42 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In other news, CAO Jennifer Rock sold 3,033 shares of the firm’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 sale, the chief accounting officer now directly owns 57,166 shares of the company’s stock, valued at approximately $4,732,201.48. This trade represents a 5.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dan Spaulding sold 4,565 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $86.22, for a total transaction of $393,594.30. Following the completion of the sale, the insider now directly owns 58,217 shares of the company’s stock, valued at approximately $5,019,469.74. This represents a 7.27 % 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 in the last quarter. Company insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently modified their holdings of the stock. L & S Advisors Inc bought a new position in shares of Zillow Group in the 3rd quarter worth about $1,579,000. Mirabella Financial Services LLP bought a new stake in Zillow Group during the 3rd quarter valued at about $11,351,000. JPMorgan Chase & Co. increased its stake in Zillow Group by 155.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company’s stock valued at $2,060,000 after purchasing an additional 20,238 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Zillow Group by 28.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company’s stock valued at $1,753,000 after purchasing an additional 5,539 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Zillow Group by 3.3% during the 3rd 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. 20.32% of the stock is 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.