Citigroup Lowers Zillow Group (NASDAQ:ZG) Price Target to $58.00

Zillow Group (NASDAQ:ZG) had its price objective cut by Citigroup from $68.00 to $58.00 in a report released on Thursday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

ZG has been the subject of a number of other research reports. Bank of America lowered shares of Zillow Group from a buy rating to a neutral rating in a research report on Wednesday, January 10th. Benchmark reiterated a buy rating and issued a $60.00 price objective on shares of Zillow Group in a research report on Tuesday, April 30th. JPMorgan Chase & Co. lowered their price objective on Zillow Group from $65.00 to $61.00 and set an overweight rating on the stock in a research report on Thursday. Susquehanna raised their target price on Zillow Group from $36.00 to $60.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Finally, Stephens restated an overweight rating and issued a $79.00 price objective on shares of Zillow Group in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $57.40.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $40.07 on Thursday. Zillow Group has a 12 month low of $33.23 and a 12 month high of $59.23. The company has a market cap of $9.36 billion, a P/E ratio of -58.07 and a beta of 1.87. The business’s 50 day moving average is $47.44 and its two-hundred day moving average is $47.65. The company has a quick ratio of 3.24, a current ratio of 3.32 and a debt-to-equity ratio of 0.21.

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 business 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 7.93% and a negative return on equity of 2.28%. On average, equities analysts expect that Zillow Group will post -0.18 EPS for the current year.

Insider Buying and Selling at Zillow Group

In other news, insider Errol G. Samuelson sold 4,219 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total value of $209,262.40. Following the transaction, the insider now directly owns 168,863 shares of the company’s stock, valued at approximately $8,375,604.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zillow Group news, General Counsel Bradley D. Owens sold 966 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total value of $56,037.66. Following the completion of the sale, the general counsel now owns 17,181 shares in the company, valued at approximately $996,669.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Errol G. Samuelson sold 4,219 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 168,863 shares in the company, valued at $8,375,604.80. The disclosure for this sale can be found here. Insiders have sold a total of 171,289 shares of company stock worth $9,642,508 over the last ninety days. Corporate insiders own 17.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Zillow Group in the 4th quarter valued at $102,096,000. Vanguard Group Inc. lifted its stake in shares of Zillow Group by 27.4% during the fourth quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock valued at $456,861,000 after acquiring an additional 1,730,731 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Zillow Group by 50.5% in the third quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock valued at $42,397,000 after acquiring an additional 317,683 shares during the last quarter. UBS Group AG increased its position in Zillow Group by 73.0% in the fourth quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock worth $23,832,000 after purchasing an additional 177,265 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Zillow Group by 244.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 171,881 shares of the technology company’s stock worth $8,226,000 after purchasing an additional 121,942 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

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.