Zillow Group (NASDAQ:ZG) Given New $90.00 Price Target at Piper Sandler

Zillow Group (NASDAQ:ZG) had its price objective dropped by stock analysts at Piper Sandler from $93.00 to $90.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price target would suggest a potential upside of 19.36% from the stock’s current price.

Several other analysts also recently issued reports on ZG. Barclays upped their price target on Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Susquehanna upped their price target on Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Craig Hallum upped their price target on Zillow Group from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Canaccord Genuity Group upped their price target on Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday, December 2nd. Finally, Cantor Fitzgerald upped their price target on Zillow Group from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $75.40 on Wednesday. The business’s 50-day moving average price is $75.63 and its two-hundred day moving average price is $65.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. Zillow Group has a one year low of $38.06 and a one year high of $86.58. The company has a market capitalization of $17.61 billion, a P/E ratio of -132.28, a price-to-earnings-growth ratio of 15.65 and a beta of 2.09.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (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%. Analysts anticipate that Zillow Group will post -0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Jennifer Rock sold 3,033 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $82.78, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 1,612 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $8,443,782.76. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,773 shares of company stock worth $5,383,314. 17.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. L & S Advisors Inc bought a new position in Zillow Group in the 3rd quarter valued at $1,579,000. Mirabella Financial Services LLP bought a new position in Zillow Group in the 3rd quarter valued at $11,351,000. JPMorgan Chase & Co. raised its position in Zillow Group by 155.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company’s stock valued at $2,060,000 after purchasing an additional 20,238 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Zillow Group by 28.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company’s stock valued at $1,753,000 after purchasing an additional 5,539 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Zillow Group by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock valued at $63,523,000 after purchasing an additional 32,766 shares during the last quarter. Institutional investors 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.