Zillow Group (NASDAQ:ZG) Price Target Cut to $61.00 by Analysts at JPMorgan Chase & Co.

Zillow Group (NASDAQ:ZG) had its target price lowered by JPMorgan Chase & Co. from $65.00 to $61.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Several other equities research analysts have also recently issued reports on the stock. DA Davidson reiterated a buy rating and set a $63.00 price objective on shares of Zillow Group in a research report on Friday, April 5th. Piper Sandler boosted their price target on shares of Zillow Group from $70.00 to $72.00 and gave the stock an overweight rating in a research note on Wednesday, February 14th. Bank of America downgraded shares of Zillow Group from a buy rating to a neutral rating in a report on Wednesday, January 10th. Canaccord Genuity Group reduced their target price on Zillow Group from $58.00 to $50.00 and set a hold rating on the stock in a report on Monday, April 29th. Finally, JMP Securities reissued a market outperform rating and set a $68.00 price target on shares of Zillow Group in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Zillow Group presently has a consensus rating of Moderate Buy and a consensus target price of $57.40.

Zillow Group Trading Up 2.2 %

Shares of Zillow Group stock opened at $40.07 on Thursday. Zillow Group has a fifty-two week low of $33.23 and a fifty-two week high of $59.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.24 and a current ratio of 3.32. The company has a market capitalization of $9.36 billion, a P/E ratio of -58.07 and a beta of 1.87. The company has a fifty day moving average of $47.44 and a 200 day moving average of $47.65.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.06. The firm had revenue of $474.00 million during the quarter, compared to analyst estimates of $450.75 million. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. On average, sell-side analysts anticipate that Zillow Group will post -0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dan Spaulding sold 5,114 shares of the 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 available at this hyperlink. In other Zillow Group news, insider Dan Spaulding sold 5,114 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $55.45, for a total transaction of $283,571.30. Following the completion of the transaction, the insider now owns 43,180 shares in the company, valued at $2,394,331. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Errol G. Samuelson sold 4,219 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were 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 in the company, valued at approximately $8,375,604.80. The disclosure for this sale can be found here. Insiders sold 171,289 shares of company stock valued at $9,642,508 over the last three months. 17.14% of the stock is owned by company insiders.

Institutional Trading of Zillow Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake 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 worth $456,861,000 after purchasing an additional 1,730,731 shares in the last quarter. Norges Bank bought a new position in shares of Zillow Group during the 4th quarter worth $102,096,000. Qube Research & Technologies Ltd increased its stake in shares of Zillow Group by 50.5% during the third quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock valued at $42,397,000 after buying an additional 317,683 shares during the period. UBS Group AG raised its holdings in shares of Zillow Group by 73.0% in the fourth quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock valued at $23,832,000 after acquiring an additional 177,265 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in Zillow Group by 1.7% in 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.

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.