Canaccord Genuity Group Cuts Zillow Group (NASDAQ:ZG) Price Target to $50.00

Zillow Group (NASDAQ:ZG) had its target price lowered by Canaccord Genuity Group from $58.00 to $50.00 in a report released on Monday morning, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the technology company’s stock.

A number of other research firms have also commented on ZG. Bank of America lowered shares of Zillow Group from a buy rating to a neutral rating in a research report on Wednesday, January 10th. Royal Bank of Canada reissued an outperform rating and issued a $66.00 price target on shares of Zillow Group in a research note on Tuesday, March 5th. Piper Sandler boosted their price target on shares of Zillow Group from $70.00 to $72.00 and gave the stock an overweight rating in a research note on Wednesday, February 14th. JMP Securities reaffirmed a market outperform rating and set a $68.00 price objective on shares of Zillow Group in a research note on Friday, April 12th. Finally, Stephens reissued an overweight rating and issued a $79.00 price target on shares of Zillow Group in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $59.14.

Zillow Group Trading Down 1.3 %

NASDAQ:ZG opened at $41.44 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market cap of $9.67 billion, a price-to-earnings ratio of -60.94 and a beta of 1.83. Zillow Group has a 52 week low of $33.23 and a 52 week high of $59.23. The firm has a 50-day moving average price of $48.11 and a two-hundred day moving average price of $47.66.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.06. Zillow Group had a negative net margin of 8.12% and a negative return on equity of 2.32%. The company had revenue of $474.00 million during the quarter, compared to analyst estimates of $450.75 million. On average, equities analysts expect that Zillow Group will post -0.18 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Bradley D. Owens sold 966 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total transaction of $56,037.66. Following the sale, the general counsel now directly owns 17,181 shares in the company, valued at approximately $996,669.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Bradley D. Owens sold 966 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total transaction of $56,037.66. Following the completion of the transaction, the general counsel now directly owns 17,181 shares of the company’s stock, valued at $996,669.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dan Spaulding sold 3,086 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $58.00, for a total transaction of $178,988.00. Following the transaction, the insider now directly owns 48,294 shares of the company’s stock, valued at $2,801,052. The disclosure for this sale can be found here. Insiders have sold 171,289 shares of company stock worth $9,642,508 in the last three months. Company insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in shares of Zillow Group during the 4th quarter worth about $26,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Zillow Group during the 4th quarter worth about $31,000. Quadrant Capital Group LLC boosted its stake in shares of Zillow Group by 45.1% during the 4th quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock worth $43,000 after purchasing an additional 237 shares during the period. CWM LLC boosted its stake in shares of Zillow Group by 100.0% during the 3rd quarter. CWM LLC now owns 1,222 shares of the technology company’s stock worth $55,000 after purchasing an additional 611 shares during the period. Finally, AtonRa Partners purchased a new position in shares of Zillow Group during the 3rd quarter worth about $206,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Company Profile

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.