Zillow Group (NASDAQ:ZG) PT Lowered to $58.00

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

ZG has been the topic of a number of other reports. Stephens reissued an overweight rating and issued a $79.00 price objective on shares of Zillow Group in a research report on Wednesday, February 14th. Benchmark reaffirmed a buy rating and issued a $60.00 price target on shares of Zillow Group in a report on Tuesday, April 30th. Susquehanna upped their price objective on Zillow Group from $36.00 to $60.00 and gave the company a neutral rating in a research note on Thursday, February 15th. DA Davidson reissued a buy rating and issued a $63.00 target price on shares of Zillow Group in a research report on Friday, April 5th. Finally, Bank of America cut Zillow Group from a buy rating to a neutral rating in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $57.40.

Zillow Group Stock Performance

NASDAQ:ZG opened at $40.07 on Thursday. The stock’s 50-day moving average is $47.44 and its 200-day moving average is $47.65. Zillow Group has a 1-year low of $33.23 and a 1-year high of $59.23. The company has a current ratio of 3.32, a quick ratio of 3.24 and a debt-to-equity ratio of 0.21. The stock has a market cap of $9.36 billion, a P/E ratio of -58.07 and a beta of 1.87.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) 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 return on equity of 2.28% and a negative net margin of 7.93%. Equities research analysts anticipate that Zillow Group will post -0.18 earnings per share for the current year.

Insider Activity at Zillow Group

In related news, insider Dan Spaulding sold 3,086 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $58.00, for a total transaction of $178,988.00. Following the completion of the sale, the insider now directly owns 48,294 shares in the company, valued at approximately $2,801,052. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Jennifer Rock sold 7,352 shares of Zillow Group stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $57.29, for a total transaction of $421,196.08. Following the completion of the transaction, the chief accounting officer now directly owns 56,384 shares of the company’s stock, valued at approximately $3,230,239.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Dan Spaulding sold 3,086 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.00, for a total transaction of $178,988.00. Following the completion of the sale, the insider now owns 48,294 shares in the company, valued at approximately $2,801,052. The disclosure for this sale can be found here. Insiders sold 171,289 shares of company stock worth $9,642,508 in the last ninety days. 17.14% of the stock is owned by company insiders.

Institutional Trading of Zillow Group

Hedge funds have recently made changes to their positions in 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 shares of Zillow Group during the fourth quarter valued at approximately $31,000. Fidelis Capital Partners LLC purchased a new position in Zillow Group in the 1st quarter worth approximately $32,000. Quadrant Capital Group LLC lifted its position in Zillow Group by 45.1% in the 4th 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 in the last quarter. Finally, CWM LLC boosted its stake in Zillow Group by 100.0% during the 3rd quarter. CWM LLC now owns 1,222 shares of the technology company’s stock valued at $55,000 after purchasing an additional 611 shares during the last quarter. 20.32% of the stock is owned by institutional investors.

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.