Zillow Group (NASDAQ:ZG) Receives Outperform Rating from Royal Bank of Canada

Zillow Group (NASDAQ:ZG)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They currently have a $88.00 price objective on the technology company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 16.71% from the stock’s previous close.

Other research analysts have also issued reports about the company. Benchmark raised their price target on Zillow Group from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. KeyCorp upgraded Zillow Group from a “sector weight” rating to an “overweight” rating and set a $100.00 price target for the company in a research report on Monday, February 3rd. UBS Group raised their price target on Zillow Group from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Baird R W upgraded Zillow Group to a “hold” rating in a research report on Friday, January 31st. Finally, Canaccord Genuity Group raised their price target on Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Zillow Group Trading Up 0.7 %

Shares of Zillow Group stock opened at $75.40 on Wednesday. The firm has a market capitalization of $17.61 billion, a price-to-earnings ratio of -132.28, a PEG ratio of 15.65 and a beta of 2.09. Zillow Group has a fifty-two week low of $38.06 and a fifty-two week high of $86.58. 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 stock has a 50 day moving average of $75.63 and a 200 day moving average of $65.79.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. As a group, research analysts predict that Zillow Group will post -0.42 earnings per share for the current year.

Insider Activity

In related news, CFO Jeremy Hofmann sold 1,612 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $84.98, for a total value of $136,987.76. Following the transaction, the chief financial officer now owns 99,362 shares in the company, valued at $8,443,782.76. The trade was a 1.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Jennifer Rock sold 3,033 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $82.78, for a total value of $251,071.74. Following the completion of the transaction, the chief accounting officer now owns 57,166 shares in the company, valued at $4,732,201.48. This trade represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,773 shares of company stock valued at $5,383,314. Insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Zillow Group during the 4th quarter worth approximately $165,326,000. Geode Capital Management LLC increased its position in Zillow Group by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock worth $63,523,000 after purchasing an additional 32,766 shares during the period. State Street Corp increased its position in Zillow Group by 0.4% during the 3rd quarter. State Street Corp now owns 805,279 shares of the technology company’s stock worth $49,871,000 after purchasing an additional 2,832 shares during the period. Virtu Financial LLC increased its position in Zillow Group by 101.3% during the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock worth $29,775,000 after purchasing an additional 211,482 shares during the period. Finally, US Bancorp DE increased its position in Zillow Group by 6.5% during the 3rd quarter. US Bancorp DE now owns 297,819 shares of the technology company’s stock worth $18,444,000 after purchasing an additional 18,136 shares during the period. 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.