Zillow Group (NASDAQ:ZG) Price Target Lowered to $80.00 at Piper Sandler

Zillow Group (NASDAQ:ZG) had its price objective dropped by Piper Sandler from $90.00 to $80.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Piper Sandler’s target price suggests a potential upside of 23.98% from the stock’s previous close.

A number of other research firms also recently commented on ZG. Baird R W raised Zillow Group to a “hold” rating in a report on Friday, January 31st. Stephens reissued an “overweight” rating and set a $73.00 price objective on shares of Zillow Group in a report on Wednesday, February 12th. UBS Group dropped their target price on shares of Zillow Group from $98.00 to $85.00 and set a “buy” rating for the company in a report on Friday, April 11th. Citigroup decreased their price target on Zillow Group from $98.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, Evercore ISI raised their price objective on Zillow Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and an average price target of $79.67.

Zillow Group Stock Performance

Zillow Group stock traded down $0.67 during mid-day trading on Monday, reaching $64.52. 122,268 shares of the company were exchanged, compared to its average volume of 571,337. The firm has a market cap of $15.65 billion, a PE ratio of -137.27, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22. The firm’s 50-day simple moving average is $67.88 and its two-hundred day simple moving average is $70.89. Zillow Group has a twelve month low of $38.06 and a twelve month high of $86.58.

Zillow Group (NASDAQ:ZG) last posted 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 net margin of 5.01% and a negative return on equity of 2.12%. As a group, equities research analysts anticipate that Zillow Group will post 0.32 EPS for the current year.

Insider Activity at Zillow Group

In related news, insider Errol G. Samuelson sold 2,854 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $73.34, for a total value of $209,312.36. Following the transaction, the insider now owns 142,636 shares in the company, valued at approximately $10,460,924.24. This trade represents a 1.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jun Choo sold 55,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the sale, the chief operating officer now owns 86,853 shares of the company’s stock, valued at approximately $6,790,167.54. This represents a 38.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,919 shares of company stock worth $7,869,478. 17.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zillow Group

Large investors have recently modified their holdings of the stock. Pilgrim Partners Asia Pte Ltd purchased a new position in Zillow Group in the 4th quarter valued at about $27,000. Blue Trust Inc. raised its position in shares of Zillow Group by 70.2% in the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock valued at $30,000 after purchasing an additional 172 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in shares of Zillow Group during the 1st quarter valued at approximately $42,000. CX Institutional acquired a new stake in shares of Zillow Group during the first quarter worth approximately $46,000. Finally, Asset Dedication LLC acquired a new stake in Zillow Group in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.