Zillow Group (NASDAQ:ZG) Given New $47.00 Price Target at The Goldman Sachs Group

Zillow Group (NASDAQ:ZG) had its price objective lifted by research analysts at The Goldman Sachs Group from $42.00 to $47.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. The Goldman Sachs Group’s price target suggests a potential downside of 31.99% from the company’s current price.

ZG has been the subject of a number of other research reports. Piper Sandler reissued an “overweight” rating and set a $73.00 price objective (up previously from $62.00) on shares of Zillow Group in a research report on Thursday. Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $50.00 to $80.00 in a research report on Monday, September 16th. Cantor Fitzgerald reissued a “neutral” rating and set a $47.00 price objective on shares of Zillow Group in a research report on Monday, October 7th. UBS Group upped their target price on shares of Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Citigroup upped their target price on shares of Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.89.

Zillow Group Stock Up 23.2 %

NASDAQ ZG traded up $13.03 during mid-day trading on Thursday, reaching $69.11. The stock had a trading volume of 858,683 shares, compared to its average volume of 620,959. The stock has a market cap of $16.00 billion, a PE ratio of -113.18 and a beta of 2.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The company has a fifty day moving average price of $58.92 and a 200 day moving average price of $50.17. Zillow Group has a 1 year low of $34.33 and a 1 year high of $69.95.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. The business had revenue of $572.00 million during the quarter, compared to analyst estimates of $538.36 million. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) EPS. On average, research analysts expect that Zillow Group will post -0.33 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Lloyd D. Frink sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the transaction, the chairman now directly owns 582 shares of the company’s stock, valued at approximately $29,583.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Dan Spaulding sold 2,991 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $53.18, for a total transaction of $159,061.38. Following the transaction, the insider now directly owns 70,342 shares of the company’s stock, valued at approximately $3,740,787.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Lloyd D. Frink sold 150,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the transaction, the chairman now owns 582 shares in the company, valued at approximately $29,583.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 217,949 shares of company stock valued at $11,580,982 in the last ninety days. 17.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Central Pacific Bank Trust Division acquired a new stake in Zillow Group in the first quarter valued at approximately $84,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Zillow Group in the first quarter valued at approximately $118,000. Duality Advisers LP boosted its stake in Zillow Group by 36.9% in the first quarter. Duality Advisers LP now owns 20,455 shares of the technology company’s stock valued at $979,000 after acquiring an additional 5,510 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Zillow Group by 146.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 39,741 shares of the technology company’s stock worth $1,902,000 after buying an additional 23,612 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Zillow Group in the first quarter worth $218,000. 20.32% of the stock is currently owned by institutional investors.

About Zillow Group

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.