Zillow Group (NASDAQ:ZG) PT Lowered to $61.00

Zillow Group (NASDAQ:ZG) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $65.00 to $61.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 56.29% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Craig Hallum lowered their target price on Zillow Group from $65.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank of Canada dropped their price objective on Zillow Group from $66.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday. Barclays raised their target price on shares of Zillow Group from $32.00 to $40.00 and gave the company an “underweight” rating in a research note on Wednesday, February 21st. Piper Sandler raised their price objective on shares of Zillow Group from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Finally, Stephens reissued an “overweight” rating and issued a $79.00 price target on shares of Zillow Group in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Zillow Group Price Performance

NASDAQ ZG traded down $2.41 on Thursday, hitting $39.03. 1,005,327 shares of the company were exchanged, compared to its average volume of 689,564. Zillow Group has a 1-year low of $33.23 and a 1-year high of $59.23. The firm has a 50 day moving average of $47.91 and a two-hundred day moving average of $47.61. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.22. The company has a market cap of $9.11 billion, a P/E ratio of -57.38 and a beta of 1.87.

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

Insider Buying and Selling

In other news, insider Dan Spaulding sold 5,114 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $55.45, for a total value of $283,571.30. Following the sale, the insider now owns 43,180 shares of the company’s stock, valued at $2,394,331. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Dan Spaulding sold 5,114 shares of Zillow Group 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 sale, the insider now owns 43,180 shares of the company’s stock, valued at $2,394,331. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Susan Daimler sold 15,206 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $56.36, for a total value of $857,010.16. Following the transaction, the insider now directly owns 36,148 shares of the company’s stock, valued at $2,037,301.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 171,289 shares of company stock worth $9,642,508. 17.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ZG. Vanguard Group Inc. lifted its position in shares of Zillow Group by 27.4% in the fourth quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock valued at $456,861,000 after buying an additional 1,730,731 shares during the last quarter. Norges Bank bought a new position in Zillow Group in the 4th quarter valued at about $102,096,000. Qube Research & Technologies Ltd lifted its position in Zillow Group by 50.5% during the third quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock worth $42,397,000 after acquiring an additional 317,683 shares during the last quarter. UBS Group AG boosted its holdings in shares of Zillow Group by 73.0% during the fourth quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock worth $23,832,000 after acquiring an additional 177,265 shares during the period. Finally, Raymond James & Associates boosted its holdings in shares of Zillow Group by 1.7% during the first quarter. Raymond James & Associates now owns 180,407 shares of the technology company’s stock worth $8,634,000 after acquiring an additional 2,999 shares during the period. 20.32% of the stock is currently 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.