Royal Bank of Canada Lowers Zillow Group (NASDAQ:ZG) Price Target to $60.00

Zillow Group (NASDAQ:ZG) had its price target lowered by Royal Bank of Canada from $66.00 to $60.00 in a research note released on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Several other research analysts also recently issued reports on the stock. DA Davidson reissued a buy rating and set a $63.00 price objective on shares of Zillow Group in a research report on Friday, April 5th. JMP Securities restated a market outperform rating and issued a $68.00 price target on shares of Zillow Group in a research report on Friday, April 12th. Stephens reaffirmed an overweight rating and set a $79.00 price objective on shares of Zillow Group in a research report on Wednesday, February 14th. Canaccord Genuity Group lowered their target price on Zillow Group from $58.00 to $50.00 and set a hold rating on the stock in a research note on Monday, April 29th. Finally, Susquehanna upped their price target on Zillow Group from $36.00 to $60.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $57.40.

Zillow Group Price Performance

Shares of ZG opened at $40.07 on Thursday. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of -58.07 and a beta of 1.87. The firm’s fifty day simple moving average is $47.44 and its 200-day simple moving average is $47.65. Zillow Group has a twelve month low of $33.23 and a twelve month high of $59.23. The company has a current ratio of 3.32, a quick ratio of 3.24 and a debt-to-equity ratio of 0.21.

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 analysts’ consensus estimates of ($0.33) by $0.06. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. The firm had revenue of $474.00 million during the quarter, compared to the consensus estimate of $450.75 million. Equities analysts forecast that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 3,086 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.00, for a total transaction of $178,988.00. Following the completion of the sale, the insider now owns 48,294 shares of the company’s stock, valued at $2,801,052. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Zillow Group news, insider Dan Spaulding sold 3,086 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $58.00, for a total transaction of $178,988.00. Following the completion of the sale, the insider now directly owns 48,294 shares in the company, valued at $2,801,052. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy Bohutinsky sold 93,750 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the completion of the sale, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $320,411.88. 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 in the last quarter. 17.14% of the stock is owned by insiders.

Institutional Trading of Zillow Group

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Zillow Group in the 4th quarter valued at approximately $102,096,000. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 1,730,731 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in Zillow Group by 50.5% during the 3rd 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 grew its holdings in Zillow Group by 73.0% during the 4th 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 in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Zillow Group by 244.2% in 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 and hedge funds 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.