Canaccord Genuity Group Cuts Zillow Group (NASDAQ:ZG) Price Target to $55.00

Zillow Group (NASDAQ:ZGGet Rating) had its target price reduced by Canaccord Genuity Group from $60.00 to $55.00 in a research report report published on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the technology company’s stock.

ZG has been the subject of a number of other reports. Benchmark decreased their price objective on shares of Zillow Group from $115.00 to $65.00 in a report on Friday, May 6th. Susquehanna Bancshares decreased their price objective on shares of Zillow Group from $62.00 to $41.00 in a report on Monday, May 9th. Piper Sandler cut their target price on shares of Zillow Group from $39.00 to $31.00 and set a neutral rating for the company in a research report on Friday. KeyCorp initiated coverage on shares of Zillow Group in a research report on Tuesday, July 12th. They issued a sector weight rating and a $35.00 target price for the company. Finally, Wedbush downgraded shares of Zillow Group from an outperform rating to a neutral rating and cut their target price for the stock from $41.00 to $39.00 in a research report on Friday. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $67.38.

Zillow Group Stock Down 2.0 %

ZG stock opened at $37.37 on Friday. The firm has a 50 day moving average price of $35.28 and a 200-day moving average price of $43.45. Zillow Group has a 52-week low of $28.76 and a 52-week high of $111.81. The company has a current ratio of 3.98, a quick ratio of 3.57 and a debt-to-equity ratio of 0.34.

Zillow Group (NASDAQ:ZGGet Rating) last released its earnings results on Thursday, May 5th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.26. Zillow Group had a negative net margin of 5.19% and a negative return on equity of 7.83%. The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the business earned $0.25 earnings per share. The business’s revenue was up 249.5% on a year-over-year basis. As a group, research analysts forecast that Zillow Group will post 0.88 EPS for the current year.

Insider Activity at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 4,000 shares of the business’s stock in a transaction on Friday, May 20th. The shares were sold at an average price of $43.21, for a total value of $172,840.00. Following the sale, the insider now owns 18,765 shares in the company, valued at approximately $810,835.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Zillow Group news, insider Dan Spaulding sold 4,000 shares of the business’s stock in a transaction on Friday, May 20th. The shares were sold at an average price of $43.21, for a total value of $172,840.00. Following the sale, the insider now owns 18,765 shares in the company, valued at approximately $810,835.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Allen Parker sold 6,755 shares of the company’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $41.20, for a total transaction of $278,306.00. Following the sale, the chief financial officer now owns 154,260 shares in the company, valued at $6,355,512. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,641 shares of company stock worth $993,503. 18.52% of the stock is owned by corporate insiders.

Institutional Trading of Zillow Group

Several hedge funds have recently made changes to their positions in ZG. Quadrant Capital Group LLC raised its position in shares of Zillow Group by 69.5% during the 4th quarter. Quadrant Capital Group LLC now owns 678 shares of the technology company’s stock valued at $42,000 after buying an additional 278 shares in the last quarter. Atticus Wealth Management LLC bought a new position in Zillow Group during the 1st quarter valued at about $48,000. Tcwp LLC bought a new position in Zillow Group during the 1st quarter valued at about $52,000. PNC Financial Services Group Inc. grew its holdings in Zillow Group by 69.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the technology company’s stock valued at $53,000 after purchasing an additional 441 shares during the last quarter. Finally, Samalin Investment Counsel LLC bought a new position in Zillow Group during the 4th quarter valued at about $62,000. 20.82% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Company Profile

(Get Rating)

Zillow Group, Inc, a digital real estate company, operates real estate brands on mobile applications and Websites in the United States. The company operates through three segments: Homes; Internet, Media & Technology; and Mortgages. The Homes segment is involved in resale of homes; and title and escrow services to home buyers and sellers, including title search procedures for title insurance policies, escrow, and other closing services.

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