Citigroup Cuts Zillow Group (NASDAQ:ZG) Price Target to $87.00

Zillow Group (NASDAQ:ZG) had its price objective cut by Citigroup from $98.00 to $87.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s price target points to a potential upside of 38.14% from the stock’s previous close.

A number of other brokerages have also issued reports on ZG. Evercore ISI boosted their price target on Zillow Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Benchmark boosted their target price on Zillow Group from $80.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods upgraded shares of Zillow Group to a “hold” rating in a research report on Friday, March 28th. Royal Bank of Canada restated an “outperform” rating and set a $88.00 price objective on shares of Zillow Group in a research report on Wednesday, February 12th. Finally, JMP Securities lifted their target price on shares of Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.05.

Zillow Group Price Performance

Shares of Zillow Group stock traded up $1.26 on Tuesday, reaching $62.98. 51,071 shares of the company were exchanged, compared to its average volume of 616,924. Zillow Group has a 1-year low of $38.06 and a 1-year high of $86.58. The stock’s 50 day moving average price is $71.02 and its 200-day moving average price is $70.77. The company has a market cap of $15.28 billion, a P/E ratio of -134.06, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. On average, research analysts predict that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Errol G. Samuelson sold 6,967 shares of Zillow Group stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total transaction of $541,475.24. Following the sale, the insider now owns 127,467 shares in the company, valued at $9,906,735.24. This trade represents a 5.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jun Choo sold 1,277 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total transaction of $99,248.44. Following the completion of the transaction, the chief operating officer now owns 86,853 shares of the company’s stock, valued at $6,750,215.16. This trade represents a 1.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 98,919 shares of company stock valued at $7,869,478 in the last three months. Corporate insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently made changes to their positions in ZG. Norges Bank bought a new stake in shares of Zillow Group in the 4th quarter valued at approximately $165,326,000. Arrowstreet Capital Limited Partnership boosted its holdings in Zillow Group by 1,261.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company’s stock worth $18,454,000 after purchasing an additional 241,331 shares during the period. Virtu Financial LLC increased its stake in Zillow Group by 101.3% during the fourth quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock valued at $29,775,000 after purchasing an additional 211,482 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Zillow Group during the fourth quarter worth $14,916,000. Finally, Sone Capital Management LLC acquired a new stake in shares of Zillow Group during the fourth quarter worth $11,185,000. 20.32% of the stock is currently owned by hedge funds and other 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.