Piper Sandler Has Lowered Expectations for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its price objective lowered by research analysts at Piper Sandler from $93.00 to $90.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price objective points to a potential upside of 24.99% from the company’s previous close.

Several other research firms have also issued reports on ZG. DA Davidson lifted their price objective on shares of Zillow Group from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Canaccord Genuity Group boosted their price target on Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. Susquehanna upped their price target on Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Robert W. Baird assumed coverage on Zillow Group in a research note on Friday, January 31st. They issued a “neutral” rating and a $88.00 price objective on the stock. Finally, Barclays upped their target price on Zillow Group from $36.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.84.

Zillow Group Stock Performance

Shares of ZG stock opened at $72.00 on Wednesday. Zillow Group has a fifty-two week low of $38.06 and a fifty-two week high of $86.58. The stock’s 50-day moving average is $75.77 and its two-hundred day moving average is $65.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. The firm has a market cap of $16.82 billion, a P/E ratio of -124.80, a PEG ratio of 15.65 and a beta of 2.09.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) EPS 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%. Analysts predict that Zillow Group will post -0.42 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In related news, General Counsel Bradley D. Owens sold 1,846 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $73.03, for a total transaction of $134,813.38. Following the completion of the transaction, the general counsel now 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 1,612 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total value of $136,987.76. Following the completion of the sale, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. This represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 142,730 shares of company stock valued at $10,896,034. 17.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp grew its position in Zillow Group by 24.0% during the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after acquiring an additional 159 shares during the last quarter. Blue Trust Inc. boosted its stake in Zillow Group by 70.2% in the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after purchasing an additional 172 shares in the last quarter. Creative Planning grew its holdings in shares of Zillow Group by 7.2% during the third quarter. Creative Planning now owns 6,537 shares of the technology company’s stock worth $405,000 after purchasing an additional 439 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Zillow Group by 0.6% in the fourth quarter. Baillie Gifford & Co. now owns 92,025 shares of the technology company’s stock valued at $6,520,000 after buying an additional 509 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Zillow Group by 86.7% in the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after buying an additional 561 shares during the last quarter. Institutional investors and hedge funds 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.