Zillow Group’s (ZG) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Zillow Group (NASDAQ:ZG) in a research note issued to investors on Friday, Benzinga reports. JMP Securities currently has a $68.00 target price on the technology company’s stock.

Several other equities analysts have also weighed in on ZG. 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 report on Wednesday, February 14th. Bank of America cut shares of Zillow Group from a buy rating to a neutral rating in a research report on Wednesday, January 10th. Benchmark boosted their price objective on shares of Zillow Group from $57.00 to $60.00 and gave the stock a buy rating in a research report on Thursday, January 25th. DA Davidson reiterated a buy rating and issued a $63.00 price objective on shares of Zillow Group in a research report on Friday, April 5th. Finally, Royal Bank of Canada restated an outperform rating and set a $66.00 target price on shares of Zillow Group in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $58.79.

Zillow Group Stock Down 3.0 %

Shares of NASDAQ:ZG opened at $42.41 on Friday. Zillow Group has a 52-week low of $33.23 and a 52-week high of $59.23. The stock’s fifty day simple moving average is $50.68 and its 200-day simple moving average is $47.71. The company has a market capitalization of $9.90 billion, a P/E ratio of -62.37 and a beta of 1.83. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.22.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.06. The firm had revenue of $474.00 million during the quarter, compared to the consensus estimate of $450.75 million. Zillow Group had a negative return on equity of 2.32% and a negative net margin of 8.12%. As a group, equities research analysts forecast that Zillow Group will post -0.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Errol G. Samuelson sold 4,219 shares of Zillow Group stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total transaction of $209,262.40. Following the sale, the insider now directly owns 168,863 shares in the company, valued at $8,375,604.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Errol G. Samuelson sold 4,219 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was 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 directly owns 168,863 shares in the company, valued at $8,375,604.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Susan Daimler sold 15,206 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $56.36, for a total value of $857,010.16. Following the sale, the insider now owns 36,148 shares in the company, valued at approximately $2,037,301.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,289 shares of company stock worth $9,642,508. Corporate insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in Zillow Group in the 4th quarter worth approximately $26,000. Creative Financial Designs Inc. ADV purchased a new position in Zillow Group during the fourth quarter valued at $31,000. Quadrant Capital Group LLC raised its stake in Zillow Group by 45.1% during the 4th quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock worth $43,000 after acquiring an additional 237 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Zillow Group by 69.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the technology company’s stock worth $53,000 after purchasing an additional 441 shares during the period. Finally, CWM LLC grew its position in shares of Zillow Group by 100.0% during the third quarter. CWM LLC now owns 1,222 shares of the technology company’s stock worth $55,000 after purchasing an additional 611 shares in the last quarter. 20.32% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Company Profile

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.