Zillow Group (NASDAQ:ZG) Given New $50.00 Price Target at UBS Group

Zillow Group (NASDAQ:ZG) had its price objective cut by UBS Group from $75.00 to $50.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

ZG has been the topic of a number of other research reports. Weiss Ratings cut Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Mizuho lowered their target price on shares of Zillow Group from $65.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Royal Bank Of Canada dropped their price target on shares of Zillow Group to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 10th. BTIG Research reiterated a “neutral” rating on shares of Zillow Group in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group decreased their price objective on shares of Zillow Group from $53.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Zillow Group presently has an average rating of “Moderate Buy” and an average price target of $68.29.

Zillow Group Price Performance

Shares of NASDAQ:ZG opened at $34.69 on Friday. The company’s 50-day moving average price is $33.23 and its two-hundred day moving average price is $42.65. Zillow Group has a one year low of $29.03 and a one year high of $90.22. The stock has a market capitalization of $7.94 billion, a PE ratio of 138.76, a price-to-earnings-growth ratio of 1.46 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $705.17 million. During the same quarter last year, the company earned $0.41 EPS. Zillow Group’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, analysts anticipate that Zillow Group will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In related news, insider Dan Spaulding sold 3,078 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the sale, the insider owned 49,696 shares in the company, valued at approximately $1,858,630.40. This represents a 5.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,501 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $37.40, for a total value of $205,737.40. Following the sale, the chief financial officer directly owned 68,315 shares of the company’s stock, valued at $2,554,981. This represents a 7.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 42,910 shares of company stock worth $1,605,732 in the last three months. 29.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Zillow Group

Large investors have recently modified their holdings of the stock. Arax Advisory Partners boosted its holdings in shares of Zillow Group by 402.3% during the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after buying an additional 354 shares during the period. First Command Advisory Services Inc. bought a new position in Zillow Group in the 4th quarter valued at about $34,000. EverSource Wealth Advisors LLC lifted its position in Zillow Group by 183.6% during the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after acquiring an additional 637 shares during the last quarter. Fifth Third Bancorp lifted its position in Zillow Group by 990.3% during the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock worth $42,000 after acquiring an additional 921 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Zillow Group during the fourth quarter worth approximately $47,000. 20.32% of the stock is owned by institutional investors.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.