Royal Bank of Canada Lowers Zillow Group (NASDAQ:ZG) Price Target to $60.00

Zillow Group (NASDAQ:ZG) had its price objective decreased by analysts at Royal Bank of Canada from $66.00 to $60.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target points to a potential upside of 49.74% from the stock’s current price.

ZG has been the subject of a number of other research reports. Piper Sandler upped their price target on Zillow Group from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Bank of America cut shares of Zillow Group from a “buy” rating to a “neutral” rating in a report on Wednesday, January 10th. Benchmark reiterated a “buy” rating and set a $60.00 target price on shares of Zillow Group in a report on Tuesday. Barclays raised their target price on Zillow Group from $32.00 to $40.00 and gave the company an “underweight” rating in a research note on Wednesday, February 21st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $68.00 price objective on shares of Zillow Group in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Zillow Group has a consensus rating of “Moderate Buy” and an average price target of $57.25.

Zillow Group Stock Performance

NASDAQ:ZG opened at $40.07 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.24 and a current ratio of 3.32. Zillow Group has a fifty-two week low of $33.23 and a fifty-two week high of $59.23. The firm has a market cap of $9.36 billion, a PE ratio of -58.07 and a beta of 1.87. The business has a 50 day moving average price of $47.44 and a 200-day moving average price of $47.55.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.06. Zillow Group had a negative net margin of 7.93% and a negative return on equity of 2.28%. The business had revenue of $474.00 million during the quarter, compared to analysts’ expectations of $450.75 million. Equities research analysts predict that Zillow Group will post -0.18 earnings per share for the current year.

Insider Transactions at Zillow Group

In other news, Director Amy Bohutinsky sold 93,750 shares of Zillow Group stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the sale, the director now owns 5,652 shares in the company, valued at $320,411.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zillow Group news, COO Jeremy Wacksman sold 20,851 shares of Zillow Group stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $55.13, for a total value of $1,149,515.63. Following the completion of the sale, the chief operating officer now directly owns 468 shares of the company’s stock, valued at approximately $25,800.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy Bohutinsky sold 93,750 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the sale, the director now owns 5,652 shares of the company’s stock, valued at $320,411.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,289 shares of company stock valued at $9,642,508. 17.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC bought a new stake in shares of Zillow Group during the fourth quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Zillow Group during the fourth quarter valued at $31,000. Fidelis Capital Partners LLC purchased a new stake in Zillow Group during the first quarter valued at about $32,000. Quadrant Capital Group LLC grew its stake in Zillow Group by 45.1% in the fourth quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock valued at $43,000 after purchasing an additional 237 shares in the last quarter. Finally, CWM LLC raised its position in Zillow Group by 100.0% during the third quarter. CWM LLC now owns 1,222 shares of the technology company’s stock valued at $55,000 after acquiring an additional 611 shares in the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

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.