Zillow Group’s (ZG) “Outperform” Rating Reaffirmed at Royal Bank Of Canada

Zillow Group (NASDAQ:ZG)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank Of Canada in a note issued to investors on Friday, Benzinga reports. They presently have a $55.00 price target on the technology company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 69.89% from the stock’s current price.

Several other equities research analysts also recently weighed in on ZG. Evercore set a $40.00 price objective on Zillow Group and gave the company an “in-line” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. reduced their price objective on Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Cantor Fitzgerald lowered their target price on Zillow Group from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Wells Fargo & Company dropped their target price on Zillow Group from $46.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, August 7th. Finally, UBS Group cut their price target on Zillow Group from $75.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Zillow Group has a consensus rating of “Hold” and an average price target of $53.14.

Zillow Group Trading Up 1.5%

NASDAQ:ZG traded up $0.49 on Friday, hitting $32.37. The company had a trading volume of 47,023 shares, compared to its average volume of 1,161,091. The stock has a market capitalization of $7.28 billion, a price-to-earnings ratio of 147.17, a PEG ratio of 1.43 and a beta of 1.97. The firm has a 50 day moving average of $34.23 and a two-hundred day moving average of $37.89. Zillow Group has a 52 week low of $29.03 and a 52 week high of $90.22.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. The firm had revenue of $772.00 million for the quarter, compared to analysts’ expectations of $758.25 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The company’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 earnings per share. As a group, equities analysts forecast that Zillow Group will post 0.89 EPS for the current year.

Insider Activity at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 3,169 shares of Zillow Group stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $35.37, for a total transaction of $112,087.53. Following the transaction, the insider directly owned 44,561 shares of the company’s stock, valued at approximately $1,576,122.57. The trade was a 6.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David A. Beitel sold 1,798 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $61,563.52. Following the completion of the sale, the chief technology officer owned 133,013 shares in the company, valued at $4,554,365.12. This trade represents a 1.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 38,539 shares of company stock valued at $1,323,800 in the last quarter. Insiders own 29.88% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently made changes to their positions in ZG. Tidal Investments LLC acquired a new position in shares of Zillow Group in the second quarter worth approximately $436,000. Engineers Gate Manager LP increased its position in Zillow Group by 1,290.7% during the 2nd quarter. Engineers Gate Manager LP now owns 95,959 shares of the technology company’s stock valued at $3,010,000 after purchasing an additional 89,059 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Zillow Group during the 2nd quarter valued at approximately $29,000. Arizona State Retirement System bought a new position in Zillow Group during the 2nd quarter worth approximately $340,000. Finally, Nykredit A S bought a new position in Zillow Group during the 2nd quarter worth approximately $65,000. 20.32% of the stock is currently owned by institutional investors.

About Zillow Group

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers and real estate professionals. Its flagship Zillow platform provides property listings, home-value estimates, neighborhood information, mortgage resources and tools that help people buy, sell, rent and finance homes.

The company’s portfolio also includes Trulia, StreetEasy, HotPads and Zillow Rentals, which serve home shoppers and renters in markets across the United States.