Zillow Group (NASDAQ:ZG) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Zillow Group (NASDAQ:ZG) in a research note published on Wednesday,Benzinga reports. Royal Bank of Canada currently has a $88.00 price target on the technology company’s stock.

ZG has been the subject of several other research reports. Piper Sandler decreased their price objective on Zillow Group from $93.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday. UBS Group upped their target price on Zillow Group from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Canaccord Genuity Group raised their price target on Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a report on Monday, December 2nd. Robert W. Baird assumed coverage on Zillow Group in a research note on Friday, January 31st. They set a “neutral” rating and a $88.00 price target on the stock. Finally, Stephens reaffirmed an “overweight” rating and issued a $73.00 price objective on shares of Zillow Group in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.95.

Zillow Group Stock Down 10.7 %

Zillow Group stock opened at $74.87 on Wednesday. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. The firm has a market cap of $17.49 billion, a P/E ratio of -131.35, a P/E/G ratio of 15.65 and a beta of 2.09. The business has a fifty day moving average of $75.68 and a two-hundred day moving average of $65.73. Zillow Group has a twelve month low of $38.06 and a twelve month high of $86.58.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. On average, analysts forecast that Zillow Group will post -0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Bradley D. Owens sold 1,846 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $73.03, for a total transaction of $134,813.38. Following the sale, the general counsel now directly owns 29,893 shares in the company, valued at $2,183,085.79. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David A. Beitel sold 56,750 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.39, for a total value of $4,108,132.50. Following the completion of the transaction, the chief technology officer now directly owns 92 shares of the company’s stock, valued at $6,659.88. The trade was a 99.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,730 shares of company stock worth $10,896,034. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. grew its stake in Zillow Group by 42.1% in the 4th quarter. Franklin Resources Inc. now owns 4,739 shares of the technology company’s stock valued at $336,000 after acquiring an additional 1,405 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in Zillow Group by 13.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,191 shares of the technology company’s stock valued at $84,000 after purchasing an additional 138 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Zillow Group by 5.5% in the fourth quarter. California Public Employees Retirement System now owns 132,332 shares of the technology company’s stock valued at $9,376,000 after purchasing an additional 6,951 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Zillow Group by 1,261.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company’s stock worth $18,454,000 after purchasing an additional 241,331 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Zillow Group during the fourth quarter worth about $165,326,000. 20.32% of the stock is currently owned by hedge funds and other 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.