Cantor Fitzgerald Cuts Zillow Group (NASDAQ:ZG) Price Target to $46.00

Zillow Group (NASDAQ:ZG) had its price objective trimmed by Cantor Fitzgerald from $56.00 to $46.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Zillow Group from $67.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Mizuho set a $65.00 price target on Zillow Group in a report on Wednesday, February 11th. Barclays reduced their price target on Zillow Group from $72.00 to $66.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. UBS Group set a $80.00 price objective on Zillow Group in a research note on Wednesday, February 11th. Finally, Citigroup cut their target price on Zillow Group from $100.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Fourteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and an average target price of $77.05.

Zillow Group Stock Down 3.9%

ZG opened at $40.41 on Wednesday. The firm has a 50-day moving average price of $50.26 and a 200-day moving average price of $64.30. Zillow Group has a twelve month low of $39.99 and a twelve month high of $90.22. The company has a market capitalization of $9.70 billion, a price-to-earnings ratio of 449.05, a PEG ratio of 2.35 and a beta of 2.05.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The business had revenue of $654.00 million for the quarter, compared to analysts’ expectations of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, sell-side analysts expect that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jeremy Wacksman sold 13,661 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $44.25, for a total value of $604,499.25. Following the completion of the transaction, the chief executive officer directly owned 116,322 shares in the company, valued at approximately $5,147,248.50. This represents a 10.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeremy Hofmann sold 7,786 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total value of $340,481.78. Following the transaction, the chief financial officer owned 57,487 shares in the company, valued at $2,513,906.51. This trade represents a 11.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,801 shares of company stock valued at $2,683,986 over the last quarter. Insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

A number of hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in Zillow Group in the second quarter worth approximately $159,770,000. Independent Franchise Partners LLP grew its position in Zillow Group by 1.1% during the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after acquiring an additional 21,862 shares during the last quarter. M&T Bank Corp raised its stake in shares of Zillow Group by 38,344.0% during the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after acquiring an additional 1,600,097 shares in the last quarter. Tiger Global Management LLC raised its stake in shares of Zillow Group by 30.7% during the fourth quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock worth $69,849,000 after acquiring an additional 240,690 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Zillow Group by 44.5% in the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after purchasing an additional 313,643 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.