Zillow Group (NASDAQ:ZG) Price Target Lowered to $58.00 at Citigroup

Zillow Group (NASDAQ:ZG) had its price target reduced by Citigroup from $68.00 to $58.00 in a research note published on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

Other research analysts have also recently issued reports about the company. Susquehanna boosted their target price on Zillow Group from $36.00 to $60.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Barclays decreased their price objective on Zillow Group from $40.00 to $35.00 and set an underweight rating for the company in a research report on Thursday. DA Davidson restated a buy rating and set a $63.00 target price on shares of Zillow Group in a report on Friday, April 5th. Craig Hallum cut their price target on shares of Zillow Group from $65.00 to $51.00 and set a buy rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada lowered their price objective on shares of Zillow Group from $66.00 to $60.00 and set an outperform rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $57.25.

Zillow Group Trading Up 2.2 %

Shares of Zillow Group stock opened at $40.07 on Thursday. The stock has a market capitalization of $9.36 billion, a P/E ratio of -58.07 and a beta of 1.87. Zillow Group has a 12-month low of $33.23 and a 12-month high of $59.23. The company has a quick ratio of 3.24, a current ratio of 3.32 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $47.44 and a 200 day simple moving average of $47.55.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.06. The company had revenue of $474.00 million during the quarter, compared to the consensus estimate of $450.75 million. Zillow Group had a negative net margin of 7.93% and a negative return on equity of 2.28%. Research analysts expect that Zillow Group will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 4,219 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total value of $209,262.40. Following the completion of the sale, the insider now owns 168,863 shares of the company’s stock, valued at approximately $8,375,604.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zillow Group news, insider Errol G. Samuelson sold 4,219 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total transaction of $209,262.40. Following the transaction, the insider now owns 168,863 shares in the company, valued at approximately $8,375,604.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Amy Bohutinsky sold 93,750 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $56.69, for a total value of $5,314,687.50. Following the sale, the director now owns 5,652 shares of the company’s stock, valued at $320,411.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 171,289 shares of company stock valued at $9,642,508. 17.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Zillow Group during the 4th quarter worth $102,096,000. Vanguard Group Inc. lifted its holdings in shares of Zillow Group by 27.4% in the fourth quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock worth $456,861,000 after acquiring an additional 1,730,731 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Zillow Group by 50.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock valued at $42,397,000 after purchasing an additional 317,683 shares in the last quarter. UBS Group AG grew its holdings in shares of Zillow Group by 73.0% during the 4th quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock valued at $23,832,000 after purchasing an additional 177,265 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Zillow Group by 244.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 171,881 shares of the technology company’s stock worth $8,226,000 after purchasing an additional 121,942 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

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.