Zillow Group (NASDAQ:ZG) Price Target Cut to $58.00

Zillow Group (NASDAQ:ZG) had its target price decreased by equities researchers at Citigroup from $68.00 to $58.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective suggests a potential upside of 44.75% from the stock’s previous close.

ZG has been the topic of a number of other reports. Benchmark reiterated a “buy” rating and issued a $60.00 price objective on shares of Zillow Group in a report on Tuesday. Canaccord Genuity Group lowered their price target on Zillow Group from $58.00 to $50.00 and set a “hold” rating for the company in a report on Monday, April 29th. Susquehanna raised their price objective on Zillow Group from $36.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Craig Hallum decreased their target price on shares of Zillow Group from $65.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, JMP Securities dropped their price target on shares of Zillow Group from $68.00 to $62.00 and set a “market outperform” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.25.

Zillow Group Stock Up 2.2 %

Shares of NASDAQ ZG opened at $40.07 on Thursday. The company has a current ratio of 3.32, a quick ratio of 3.24 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $47.44 and a 200 day moving average of $47.55. Zillow Group has a 12-month low of $33.23 and a 12-month high of $59.23. The stock has a market cap of $9.36 billion, a PE ratio of -58.07 and a beta of 1.87.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data 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. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. The company had revenue of $474.00 million for the quarter, compared to analyst estimates of $450.75 million. As a group, sell-side analysts predict that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Bradley D. Owens sold 966 shares of the company’s stock in a transaction that occurred 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 $996,669.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Zillow Group news, General Counsel Bradley D. Owens sold 966 shares of Zillow Group stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total transaction of $56,037.66. Following the completion of the sale, the general counsel now directly owns 17,181 shares of the company’s stock, valued at approximately $996,669.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Errol G. Samuelson sold 4,219 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total transaction of $209,262.40. Following the completion of the transaction, the insider now owns 168,863 shares in the company, valued at $8,375,604.80. The disclosure for this sale can be found here. Insiders sold 171,289 shares of company stock valued at $9,642,508 in the last three months. 17.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC acquired a new stake in Zillow Group during the 4th quarter worth approximately $26,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Zillow Group during the fourth quarter worth $31,000. Fidelis Capital Partners LLC purchased a new position in Zillow Group in the 1st quarter valued at $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 valued at $43,000 after buying an additional 237 shares during the period. Finally, CWM LLC raised its position in 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 buying an additional 611 shares during the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

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.