Zillow Group (NASDAQ:ZG) Stock Gets Price Target Reduction from KeyCorp

Zillow Group (NASDAQ:ZG) had its target price reduced by research analysts at KeyCorp from $48.00 to $42.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. KeyCorp‘s price target would indicate a potential upside of 27.66% from the company’s previous close.

Several other analysts have also recently commented on ZG. Benchmark reiterated a “buy” rating on shares of Zillow Group in a report on Monday, August 24th. Zacks Research downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings restated a “sell (d)” rating on shares of Zillow Group in a research report on Wednesday, August 19th. Citigroup reduced their price objective on shares of Zillow Group from $68.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Sanford C. Bernstein cut shares of Zillow Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $50.00 to $38.00 in a research report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $50.81.

Zillow Group Trading Up 3.2%

Shares of ZG opened at $32.90 on Tuesday. The company has a market capitalization of $7.40 billion, a PE ratio of 149.55, a PEG ratio of 1.35 and a beta of 2.02. Zillow Group has a 12 month low of $27.25 and a 12 month high of $74.80. The stock’s 50-day moving average price is $32.00 and its two-hundred day moving average price is $39.21.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.08. The company had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.25 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Equities research analysts predict that Zillow Group will post 0.91 EPS for the current fiscal year.

Insider Activity at Zillow Group

In other Zillow Group news, Director Erik C. Blachford sold 792 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total value of $28,282.32. Following the transaction, the director directly owned 34,160 shares of the company’s stock, valued at approximately $1,219,853.60. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeremy Wacksman sold 9,339 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $319,207.02. Following the transaction, the chief executive officer owned 138,574 shares in the company, valued at $4,736,459.32. The trade was a 6.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 38,539 shares of company stock worth $1,323,800 over the last quarter. 29.88% of the stock is owned by company insiders.

Institutional Trading of Zillow Group

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Zillow Group by 183.6% during the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after acquiring an additional 637 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Zillow Group by 4.7% during the first quarter. Public Employees Retirement System of Ohio now owns 15,433 shares of the technology company’s stock worth $639,000 after purchasing an additional 699 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Zillow Group by 6.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,071 shares of the technology company’s stock worth $458,000 after purchasing an additional 699 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Zillow Group in the 2nd quarter worth $29,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Zillow Group by 990.3% in the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock worth $42,000 after purchasing an additional 921 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers, real estate professionals, and other housing industry participants. Its services are designed to help people search for homes, understand property values, connect with agents, and manage transactions throughout the residential real estate process.

The company’s portfolio includes Zillow, Trulia, StreetEasy, HotPads, and ShowingTime+. Zillow provides home listings, estimated property values, rental information, agent connections, mortgage resources, and other housing-related tools.