DA Davidson Forecasts Strong Price Appreciation for Zillow Group (NASDAQ:ZG) Stock

Zillow Group (NASDAQ:ZG) had its price objective increased by DA Davidson from $75.00 to $90.00 in a research report sent to investors on Wednesday morning,Benzinga reports. DA Davidson currently has a buy rating on the technology company’s stock.

Several other analysts also recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $88.00 price objective on shares of Zillow Group in a research report on Wednesday. Robert W. Baird assumed coverage on shares of Zillow Group in a report on Friday, January 31st. They set a “neutral” rating and a $88.00 price target on the stock. Baird R W upgraded shares of Zillow Group to a “hold” rating in a report on Friday, January 31st. Stephens reaffirmed an “overweight” rating and issued a $73.00 price objective on shares of Zillow Group in a research report on Wednesday. Finally, Benchmark lifted their target price on Zillow Group from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Zillow Group presently has a consensus rating of “Moderate Buy” and an average price target of $80.95.

Zillow Group Stock Performance

Shares of ZG 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 stock 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’s 50 day moving average price is $75.68 and its 200-day moving average price is $65.73. Zillow Group has a 52 week low of $38.06 and a 52 week high of $86.58.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, February 11th. The technology company reported ($0.22) EPS for the quarter, missing the consensus estimate 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%. Equities research analysts anticipate that Zillow Group will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Jun Choo sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $75.10, for a total transaction of $751,000.00. Following the completion of the transaction, the chief operating officer now directly owns 88,130 shares in the company, valued at approximately $6,618,563. The trade was a 10.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Errol G. Samuelson sold 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $73.57, for a total transaction of $1,250,690.00. Following the sale, the insider now owns 22,739 shares in the company, valued at approximately $1,672,908.23. The trade was a 42.78 % decrease in their position. The disclosure for this sale can be found here. Over 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 insiders.

Hedge Funds Weigh In On Zillow Group

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its position in shares of Zillow Group by 70.2% during the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock valued at $30,000 after buying an additional 172 shares during the last quarter. Asset Dedication LLC purchased a new position in Zillow Group during the fourth quarter valued at $47,000. Assetmark Inc. increased its holdings in Zillow Group by 18,875.0% in the 4th quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock valued at $54,000 after acquiring an additional 755 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Zillow Group by 24.0% in the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after purchasing an additional 159 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of Zillow Group during the 4th quarter valued at about $63,000. Institutional investors 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.