Zillow Group (NASDAQ:ZG) Stock Price Expected to Rise, Craig Hallum Analyst Says

Zillow Group (NASDAQ:ZG) had its target price upped by Craig Hallum from $55.00 to $70.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other brokerages have also weighed in on ZG. The Goldman Sachs Group raised their target price on shares of Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup boosted their target price on shares of Zillow Group from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $47.00 price target on shares of Zillow Group in a report on Monday, October 7th. DA Davidson increased their price target on Zillow Group from $71.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday. Finally, JMP Securities lifted their price objective on shares of Zillow Group from $62.00 to $82.00 and gave the stock a “market outperform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and a consensus target price of $65.28.

Zillow Group Price Performance

Shares of Zillow Group stock traded up $0.54 during trading on Thursday, reaching $70.63. 410,589 shares of the company’s stock were exchanged, compared to its average volume of 623,155. The firm’s 50-day moving average price is $59.25 and its 200 day moving average price is $50.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. Zillow Group has a 1-year low of $34.33 and a 1-year high of $71.28.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, August 7th. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. The firm had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $538.36 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.34%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) earnings per share. As a group, analysts forecast that Zillow Group will post -0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jeremy Wacksman sold 4,480 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $52.83, for a total transaction of $236,678.40. Following the sale, the chief executive officer now directly owns 174,439 shares in the company, valued at approximately $9,215,612.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Zillow Group news, insider Dan Spaulding sold 2,991 shares of Zillow Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total transaction of $159,061.38. Following the completion of the transaction, the insider now owns 70,342 shares of the company’s stock, valued at $3,740,787.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeremy Wacksman sold 4,480 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $52.83, for a total value of $236,678.40. Following the sale, the chief executive officer now owns 174,439 shares in the company, valued at approximately $9,215,612.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,596 shares of company stock worth $3,938,581 over the last quarter. 17.14% of the stock is currently owned by company insiders.

Institutional Trading of Zillow Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Zillow Group during the 3rd quarter valued at $774,000. Thrivent Financial for Lutherans boosted its holdings in shares of Zillow Group by 93.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 142,917 shares of the technology company’s stock worth $8,851,000 after purchasing an additional 68,984 shares in the last quarter. Hartline Investment Corp increased its position in shares of Zillow Group by 6.7% during the 3rd quarter. Hartline Investment Corp now owns 62,537 shares of the technology company’s stock valued at $3,873,000 after purchasing an additional 3,942 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Zillow Group by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 91,516 shares of the technology company’s stock valued at $5,668,000 after buying an additional 811 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in Zillow Group by 207.2% in the 3rd quarter. GSA Capital Partners LLP now owns 15,248 shares of the technology company’s stock worth $944,000 after buying an additional 10,285 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

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.