Zillow Group (NASDAQ:ZG) PT Lowered to $61.00

Zillow Group (NASDAQ:ZG) had its target price decreased by JPMorgan Chase & Co. from $65.00 to $61.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 52.23% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Piper Sandler increased their price objective on Zillow Group from $70.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Susquehanna increased their price target on shares of Zillow Group from $36.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Benchmark reaffirmed a “buy” rating and set a $60.00 price objective on shares of Zillow Group in a research note on Tuesday. Bank of America lowered shares of Zillow Group from a “buy” rating to a “neutral” rating in a report on Wednesday, January 10th. Finally, JMP Securities reissued a “market outperform” rating and issued a $68.00 price target on shares of Zillow Group in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.25.

Zillow Group Price Performance

ZG opened at $40.07 on Thursday. The firm has a 50-day moving average price of $47.44 and a 200-day moving average price of $47.55. Zillow Group has a twelve month low of $33.23 and a twelve 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 market capitalization of $9.36 billion, a price-to-earnings ratio of -58.07 and a beta of 1.87.

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

Insider Activity at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 7,352 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $57.29, for a total transaction of $421,196.08. Following the transaction, the chief accounting officer now directly owns 56,384 shares in the company, valued at $3,230,239.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Amy Bohutinsky sold 93,750 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $56.69, for a total value of $5,314,687.50. Following the completion of the sale, the director now owns 5,652 shares of the company’s stock, valued at approximately $320,411.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Jennifer Rock sold 7,352 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $57.29, for a total value of $421,196.08. Following the transaction, the chief accounting officer now owns 56,384 shares in the company, valued at $3,230,239.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,289 shares of company stock valued at $9,642,508. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new position in shares of Zillow Group in the fourth quarter worth approximately $26,000. Creative Financial Designs Inc. ADV bought a new stake in Zillow Group in the 4th quarter worth $31,000. Fidelis Capital Partners LLC purchased a new position in shares of Zillow Group in the first quarter valued at about $32,000. Quadrant Capital Group LLC raised its stake in shares of Zillow Group by 45.1% during the fourth quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock valued at $43,000 after acquiring an additional 237 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Zillow Group by 100.0% during the third quarter. CWM LLC now owns 1,222 shares of the technology company’s stock worth $55,000 after purchasing an additional 611 shares during the period. 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.