DA Davidson Cuts Zillow Group (NASDAQ:ZG) Price Target to $85.00

Zillow Group (NASDAQ:ZG) had its price objective decreased by DA Davidson from $90.00 to $85.00 in a research note published on Thursday,Benzinga reports. DA Davidson currently has a buy rating on the technology company’s stock.

A number of other equities analysts also recently issued reports on ZG. Wells Fargo & Company started coverage on Zillow Group in a report on Monday, April 28th. They issued a “mixed” rating and a $62.00 price target for the company. Piper Sandler decreased their price target on Zillow Group from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Keefe, Bruyette & Woods upgraded Zillow Group to a “hold” rating in a research report on Friday, March 28th. UBS Group lowered their price objective on shares of Zillow Group from $98.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Bank of America boosted their price target on Zillow Group from $81.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and an average price target of $81.80.

Zillow Group Stock Up 0.0 %

NASDAQ:ZG opened at $66.78 on Thursday. The stock has a market capitalization of $16.20 billion, a price-to-earnings ratio of -142.09, a PEG ratio of 8.90 and a beta of 2.22. The firm has a 50 day moving average of $66.35 and a 200 day moving average of $71.22. Zillow Group has a 52 week low of $38.40 and a 52 week high of $86.58.

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

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 2,854 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total transaction of $209,312.36. Following the completion of the transaction, the insider now directly owns 142,636 shares of the company’s stock, valued at approximately $10,460,924.24. This trade represents a 1.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jun Choo sold 55,000 shares of the company’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 sale, the chief operating officer now directly owns 86,853 shares of the company’s stock, valued at $6,790,167.54. The trade was a 38.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,919 shares of company stock valued at $5,744,978 in the last ninety days. Company insiders own 17.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Zillow Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 7,002,693 shares of the technology company’s stock valued at $468,200,000 after purchasing an additional 57,693 shares in the last quarter. Norges Bank purchased a new stake in Zillow Group in the 4th quarter worth about $165,326,000. Dimensional Fund Advisors LP grew its stake in Zillow Group by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 445,664 shares of the technology company’s stock valued at $31,578,000 after acquiring an additional 27,345 shares in the last quarter. Virtu Financial LLC lifted its position in Zillow Group by 101.3% in the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock worth $29,775,000 after buying an additional 211,482 shares in the last quarter. Finally, Selkirk Management LLC grew its stake in Zillow Group by 14.0% in the fourth quarter. Selkirk Management LLC now owns 365,800 shares of the technology company’s stock valued at $25,917,000 after purchasing an additional 45,000 shares in the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Company Profile

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.