Zillow Group (NASDAQ:ZG) Price Target Raised to $86.00

Zillow Group (NASDAQ:ZG) had its target price hoisted by Canaccord Genuity Group from $64.00 to $86.00 in a research report report published on Monday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the technology company’s stock.

ZG has been the subject of several other reports. DA Davidson lifted their price objective on shares of Zillow Group from $71.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on shares of Zillow Group from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. JMP Securities lifted their price objective on shares of Zillow Group from $62.00 to $82.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Benchmark lifted their target price on Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Susquehanna lifted their target price on Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.94.

Zillow Group Trading Down 2.0 %

ZG stock opened at $79.31 on Monday. The firm has a fifty day moving average price of $66.20 and a 200 day moving average price of $54.78. Zillow Group has a fifty-two week low of $38.06 and a fifty-two week high of $83.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. The firm has a market cap of $18.52 billion, a PE ratio of -139.14 and a beta of 2.08.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The firm had revenue of $581.00 million during the quarter, compared to analyst estimates of $555.45 million. During the same period last year, the firm posted ($0.12) earnings per share. Zillow Group’s revenue for the quarter was up 17.1% compared to the same quarter last year. Sell-side analysts anticipate that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In related news, CTO David A. Beitel sold 56,750 shares of Zillow Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.39, for a total value of $4,108,132.50. Following the completion of the sale, the chief technology officer now directly owns 92 shares in the company, valued at $6,659.88. The trade was a 99.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Bradley D. Owens sold 1,212 shares of Zillow Group stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total value of $89,663.76. Following the completion of the transaction, the general counsel now owns 31,739 shares in the company, valued at $2,348,051.22. This trade represents a 3.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,591 shares of company stock worth $11,892,886 over the last three months. 17.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in Zillow Group by 3.3% in the third quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock valued at $63,523,000 after purchasing an additional 32,766 shares during the last quarter. State Street Corp grew its stake in Zillow Group by 0.4% in the third quarter. State Street Corp now owns 805,279 shares of the technology company’s stock valued at $49,871,000 after purchasing an additional 2,832 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Zillow Group by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock valued at $19,901,000 after purchasing an additional 35,503 shares during the last quarter. Selkirk Management LLC grew its stake in Zillow Group by 37.4% in the second quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock valued at $14,449,000 after purchasing an additional 87,300 shares during the last quarter. Finally, US Bancorp DE grew its stake in Zillow Group by 6.5% in the third quarter. US Bancorp DE now owns 297,819 shares of the technology company’s stock valued at $18,444,000 after purchasing an additional 18,136 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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.