Zillow Group (NASDAQ:ZG) Price Target Cut to $60.00 by Analysts at Royal Bank of Canada

Zillow Group (NASDAQ:ZG) had its price objective decreased by equities research analysts at Royal Bank of Canada from $66.00 to $60.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 53.49% from the stock’s current price.

Several other research firms have also recently issued reports on ZG. Bank of America cut Zillow Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 10th. Canaccord Genuity Group reduced their target price on Zillow Group from $58.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday. Susquehanna boosted their target price on Zillow Group from $36.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Benchmark reissued a “buy” rating and set a $60.00 target price on shares of Zillow Group in a research note on Tuesday. Finally, Stephens reissued an “overweight” rating and set a $79.00 target price 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 assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Zillow Group presently has an average rating of “Hold” and a consensus price target of $58.71.

Zillow Group Price Performance

ZG stock traded down $2.35 during mid-day trading on Thursday, reaching $39.09. 747,648 shares of the company traded hands, compared to its average volume of 686,022. The company has a market capitalization of $9.13 billion, a P/E ratio of -57.51 and a beta of 1.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.24 and a quick ratio of 3.24. The company has a fifty day moving average price of $47.91 and a 200-day moving average price of $47.61. Zillow Group has a 52-week low of $33.23 and a 52-week high of $59.23.

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

Insider Buying and Selling at Zillow Group

In other Zillow Group news, General Counsel Bradley D. Owens sold 966 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total value of $56,037.66. Following the transaction, the general counsel now owns 17,181 shares of the company’s stock, valued at $996,669.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Dan Spaulding sold 5,114 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $55.45, for a total value of $283,571.30. Following the transaction, the insider now owns 43,180 shares of the company’s stock, valued at $2,394,331. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Bradley D. Owens sold 966 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total value of $56,037.66. Following the completion of the transaction, the general counsel now directly owns 17,181 shares in the company, valued at approximately $996,669.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,289 shares of company stock valued at $9,642,508. 17.14% of the stock is owned by company insiders.

Institutional Trading of Zillow Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new stake in Zillow Group during the 4th quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV bought a new stake in Zillow Group in the 4th quarter worth approximately $31,000. Fidelis Capital Partners LLC bought a new stake in Zillow Group in the 1st quarter worth approximately $32,000. Quadrant Capital Group LLC increased its stake in Zillow Group by 45.1% in the 4th quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock worth $43,000 after acquiring an additional 237 shares during the last quarter. Finally, CWM LLC increased its stake in Zillow Group by 100.0% in the 3rd quarter. CWM LLC now owns 1,222 shares of the technology company’s stock worth $55,000 after acquiring an additional 611 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

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.