Barclays Lowers Zillow Group (NASDAQ:ZG) Price Target to $35.00

Zillow Group (NASDAQ:ZG) had its price objective decreased by equities researchers at Barclays from $40.00 to $35.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the technology company’s stock. Barclays‘s target price indicates a potential downside of 11.14% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Canaccord Genuity Group decreased their price target on shares of Zillow Group from $58.00 to $50.00 and set a “hold” rating on the stock in a report on Monday. Stephens reiterated an “overweight” rating and set a $79.00 target price on shares of Zillow Group in a research report on Wednesday, February 14th. Bank of America lowered shares of Zillow Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 10th. Piper Sandler increased their price target on shares of Zillow Group from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Finally, JMP Securities dropped their price objective on shares of Zillow Group from $68.00 to $62.00 and set a “market outperform” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.69.

Zillow Group Trading Down 4.9 %

NASDAQ ZG traded down $2.05 during trading hours on Thursday, hitting $39.39. The company’s stock had a trading volume of 1,211,519 shares, compared to its average volume of 691,660. Zillow Group has a twelve month low of $33.23 and a twelve month high of $59.23. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $9.20 billion, a P/E ratio of -58.16 and a beta of 1.87. The stock has a fifty day moving average of $47.91 and a 200 day moving average of $47.61.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.06. The business had revenue of $474.00 million during the quarter, compared to the consensus estimate of $450.75 million. Zillow Group had a negative net margin of 8.12% and a negative return on equity of 2.32%. Equities research analysts forecast that Zillow Group will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zillow Group news, Director Amy Bohutinsky sold 93,750 shares of Zillow Group stock in a transaction on Monday, March 4th. The shares were sold at an average price of $56.69, for a total value of $5,314,687.50. Following the transaction, the director now directly owns 5,652 shares in the company, valued at $320,411.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Amy Bohutinsky sold 93,750 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the transaction, the director now directly owns 5,652 shares in the company, valued at $320,411.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Errol G. Samuelson sold 4,219 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total transaction of $209,262.40. Following the sale, the insider now directly owns 168,863 shares in the company, valued at approximately $8,375,604.80. The disclosure for this sale can be found here. Insiders have sold 171,289 shares of company stock worth $9,642,508 in the last ninety days. 17.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Zillow Group in the fourth quarter worth $102,096,000. Vanguard Group Inc. boosted its stake in shares of Zillow Group by 27.4% in the fourth quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock valued at $456,861,000 after purchasing an additional 1,730,731 shares during the period. Qube Research & Technologies Ltd boosted its stake in shares of Zillow Group by 50.5% in the third quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock valued at $42,397,000 after purchasing an additional 317,683 shares during the period. UBS Group AG boosted its stake in shares of Zillow Group by 73.0% in the fourth quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock valued at $23,832,000 after purchasing an additional 177,265 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Zillow Group by 244.2% in the first quarter. Assenagon Asset Management S.A. now owns 171,881 shares of the technology company’s stock valued at $8,226,000 after purchasing an additional 121,942 shares during the period. 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.