Barclays Cuts Zillow Group (NASDAQ:ZG) Price Target to $60.00

Zillow Group (NASDAQ:ZG) had its price target lowered by Barclays from $64.00 to $60.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an underweight rating on the technology company’s stock.

A number of other brokerages also recently commented on ZG. Wedbush reissued an “outperform” rating and issued a $90.00 price objective (down from $100.00) on shares of Zillow Group in a research report on Thursday. Citigroup decreased their price target on Zillow Group from $98.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. KeyCorp dropped their price objective on Zillow Group from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Evercore ISI lifted their price target on shares of Zillow Group from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, DA Davidson decreased their price objective on shares of Zillow Group from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $81.80.

Zillow Group Trading Up 0.0 %

Zillow Group stock opened at $66.78 on Thursday. The firm has a market capitalization of $16.20 billion, a P/E ratio of -142.09, a P/E/G ratio of 8.90 and a beta of 2.22. Zillow Group has a twelve month low of $38.40 and a twelve month high of $86.58. The stock’s fifty day simple moving average is $66.35 and its 200-day simple moving average is $71.22.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.06). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. The company had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $587.88 million. During the same quarter in the previous year, the business posted $0.36 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Sell-side analysts predict that Zillow Group will post 0.32 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, COO Jun Choo sold 55,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the completion of the transaction, the chief operating officer now directly owns 86,853 shares in the company, valued at approximately $6,790,167.54. This trade represents a 38.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Errol G. Samuelson sold 2,854 shares of Zillow Group stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total value of $209,312.36. Following the transaction, the insider now owns 142,636 shares of the company’s stock, valued at $10,460,924.24. This represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,919 shares of company stock valued at $5,744,978. 17.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zillow Group

Institutional investors have recently made changes to their positions in the stock. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Zillow Group during the 4th quarter worth about $27,000. Blue Trust Inc. increased its stake in shares of Zillow Group by 70.2% in the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after buying an additional 172 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in shares of Zillow Group in the 1st quarter worth approximately $42,000. CX Institutional acquired a new stake in Zillow Group during the first quarter worth about $46,000. Finally, Asset Dedication LLC acquired a new stake in shares of Zillow Group during the 4th quarter worth approximately $47,000. 20.32% of the stock is owned by institutional investors and hedge funds.

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.