Zillow Group (NASDAQ:ZG) Stock Gets Price Target Cut from Citigroup

Zillow Group (NASDAQ:ZG) had its target price lowered by Citigroup from $52.00 to $42.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other research firms have also recently weighed in on ZG. Royal Bank Of Canada reduced their price objective on Zillow Group from $55.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, November 3rd. KeyCorp cut Zillow Group from an “overweight” rating to a “sector weight” rating in a research report on Monday. JPMorgan Chase & Co. decreased their price target on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Cantor Fitzgerald lowered their target price on shares of Zillow Group from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, November 5th. Finally, Sanford C. Bernstein decreased their price objective on Zillow Group from $38.00 to $34.00 and set a “market perform” rating on the stock in a report on Thursday, November 5th. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Zillow Group currently has a consensus rating of “Hold” and a consensus target price of $47.67.

Zillow Group Stock Performance

NASDAQ:ZG opened at $29.77 on Monday. Zillow Group has a 52 week low of $27.25 and a 52 week high of $74.80. The stock’s 50 day moving average price is $31.28 and its 200 day moving average price is $37.96. The company has a market capitalization of $6.69 billion, a P/E ratio of -57.25, a P/E/G ratio of 1.26 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, November 4th. The technology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The company had revenue of $724.00 million during the quarter, compared to the consensus estimate of $753.66 million. Zillow Group had a negative net margin of 3.95% and a positive return on equity of 3.23%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. As a group, sell-side analysts forecast that Zillow Group will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other Zillow Group news, CEO Jeremy Wacksman sold 9,339 shares of Zillow Group stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.18, for a total transaction of $319,207.02. Following the completion of the sale, the chief executive officer owned 138,574 shares of the company’s stock, valued at approximately $4,736,459.32. The trade was a 6.31% 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, Director Claire Thielke sold 1,187 shares of Zillow Group stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total transaction of $42,387.77. Following the transaction, the director directly owned 2,375 shares in the company, valued at $84,811.25. The trade was a 33.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 20,148 shares of company stock valued at $695,458. 29.88% of the stock is currently owned by company insiders.

Institutional Trading of Zillow Group

A number of institutional investors have recently modified their holdings of the company. Ieq Capital LLC increased its position in shares of Zillow Group by 519.5% in the third quarter. Ieq Capital LLC now owns 52,335 shares of the technology company’s stock valued at $1,450,000 after acquiring an additional 43,887 shares during the last quarter. Bessemer Group Inc. grew its stake in Zillow Group by 17,482.5% in the third quarter. Bessemer Group Inc. now owns 7,033 shares of the technology company’s stock valued at $195,000 after purchasing an additional 6,993 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Zillow Group by 92.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 149,517 shares of the technology company’s stock worth $4,142,000 after purchasing an additional 71,996 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of Zillow Group during the 3rd quarter worth approximately $1,415,000. Finally, Fulcrum Asset Management LLP acquired a new position in shares of Zillow Group during the 3rd quarter worth approximately $399,000. 20.32% of the stock is currently owned by institutional investors.

Zillow Group Company Profile

Zillow Group, Inc. operates a digital real estate marketplace focused primarily on the United States. Its websites and mobile apps help consumers find homes for sale and rent, explore neighborhood information, and research home values. The company’s brands include Zillow, Trulia, StreetEasy and HotPads. Zillow Group also provides services for real estate professionals, including advertising and customer-management tools, and offers mortgage services through Zillow Home Loans. Zillow launched in 2006, founded by Rich Barton and Lloyd Frink, and grew into a parent company with multiple real estate brands and services.