Zillow Group’s (ZG) Outperform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their outperform rating on shares of Zillow Group (NASDAQ:ZG) in a research note released on Wednesday morning,Benzinga reports. They currently have a $95.00 target price on the technology company’s stock.

Several other equities analysts have also weighed in on ZG. Wells Fargo & Company dropped their price objective on shares of Zillow Group from $73.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 10th. UBS Group set a $80.00 target price on shares of Zillow Group in a report on Wednesday, February 11th. DA Davidson set a $75.00 price target on shares of Zillow Group in a research note on Thursday, February 12th. The Goldman Sachs Group restated a “neutral” rating on shares of Zillow Group in a research report on Tuesday, March 17th. Finally, Benchmark restated a “buy” rating on shares of Zillow Group in a report on Wednesday, February 11th. Fourteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Zillow Group has a consensus rating of “Moderate Buy” and an average target price of $77.05.

Zillow Group Stock Down 3.9%

ZG opened at $40.41 on Wednesday. Zillow Group has a 12-month low of $39.99 and a 12-month high of $90.22. The business has a 50 day moving average of $50.26 and a 200-day moving average of $64.30. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of 449.05, a PEG ratio of 2.35 and a beta of 2.05.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Tuesday, February 10th. The technology company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The business had revenue of $654.00 million for the quarter, compared to analyst estimates of $650.40 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The firm’s revenue was up 18.1% compared to the same quarter last year. As a group, analysts expect that Zillow Group will post 0.32 earnings per share for the current year.

Insider Activity at Zillow Group

In related news, CTO David A. Beitel sold 3,966 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $44.22, for a total transaction of $175,376.52. Following the completion of the sale, the chief technology officer owned 136,690 shares of the company’s stock, valued at $6,044,431.80. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 7,786 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total transaction of $340,481.78. Following the completion of the transaction, the chief financial officer directly owned 57,487 shares in the company, valued at approximately $2,513,906.51. This represents a 11.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 60,801 shares of company stock worth $2,683,986 in the last quarter. 17.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Zillow Group during the 2nd quarter worth $159,770,000. MFG Wealth Management Inc. bought a new position in Zillow Group in the third quarter valued at about $1,493,000. Aberdeen Group plc bought a new position in Zillow Group in the third quarter valued at about $2,529,000. Y Intercept Hong Kong Ltd acquired a new position in Zillow Group during the third quarter worth about $1,443,000. Finally, Tabor Asset Management LP acquired a new position in Zillow Group during the third quarter worth about $2,428,000. 20.32% of the stock is owned by institutional investors.

About Zillow Group

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.