Bank of America Boosts Zillow Group (NASDAQ:ZG) Price Target to $84.00

Zillow Group (NASDAQ:ZG) had its price objective hoisted by equities researchers at Bank of America from $81.00 to $84.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Bank of America‘s price target would indicate a potential upside of 11.41% from the company’s current price.

A number of other equities analysts have also recently weighed in on ZG. Royal Bank of Canada reissued an “outperform” rating and set a $88.00 price target on shares of Zillow Group in a research report on Wednesday. Barclays lifted their target price on Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Stephens restated an “overweight” rating and issued a $73.00 price target on shares of Zillow Group in a report on Wednesday. Benchmark raised their price target on Zillow Group from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Finally, Robert W. Baird began coverage on Zillow Group in a research report on Friday, January 31st. They issued a “neutral” rating and a $88.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.00.

Zillow Group Price Performance

ZG opened at $75.40 on Wednesday. Zillow Group has a one year low of $38.06 and a one year high of $86.58. The stock has a market capitalization of $17.61 billion, a P/E ratio of -132.28, a price-to-earnings-growth ratio of 15.65 and a beta of 2.09. 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’s 50 day simple moving average is $75.63 and its 200-day simple moving average is $65.79.

Zillow Group (NASDAQ:ZG) last issued its 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%. Sell-side analysts anticipate that Zillow Group will post -0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zillow Group news, insider Dan Spaulding sold 4,565 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $86.22, for a total transaction of $393,594.30. Following the sale, the insider now directly owns 58,217 shares of the company’s stock, valued at $5,019,469.74. The trade was a 7.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Errol G. Samuelson sold 17,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $73.57, for a total transaction of $1,250,690.00. Following the sale, the insider now directly owns 22,739 shares in the company, valued at $1,672,908.23. This trade represents a 42.78 % 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 in the last three months. 17.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Zillow Group during the 4th quarter worth about $27,000. Blue Trust Inc. increased its stake in shares of Zillow Group by 70.2% during the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after purchasing an additional 172 shares during the last quarter. Asset Dedication LLC acquired a new position in shares of Zillow Group during the 4th quarter worth about $47,000. Assetmark Inc. increased its stake in shares of Zillow Group by 18,875.0% during the 4th quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock worth $54,000 after purchasing an additional 755 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Zillow Group by 24.0% during the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after purchasing an additional 159 shares during the last quarter. 20.32% of the stock is owned by 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.