Zillow Group (NASDAQ:ZG) Price Target Cut to $62.00 by Analysts at JMP Securities

Zillow Group (NASDAQ:ZG) had its price target decreased by investment analysts at JMP Securities from $68.00 to $62.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “market outperform” rating on the technology company’s stock. JMP Securities’ price objective points to a potential upside of 58.85% from the stock’s previous close.

Several other brokerages have also issued reports on ZG. Craig Hallum decreased their price target on shares of Zillow Group from $65.00 to $51.00 and set a “buy” rating for the company in a report on Thursday. Piper Sandler boosted their target price on Zillow Group from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Royal Bank of Canada dropped their price target on Zillow Group from $66.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on Zillow Group from $65.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Stephens reissued an “overweight” rating and set a $79.00 target price on shares of Zillow Group in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Zillow Group currently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Zillow Group Trading Down 5.8 %

ZG traded down $2.41 during midday trading on Thursday, reaching $39.03. 1,005,327 shares of the company were exchanged, compared to its average volume of 689,564. The stock has a market capitalization of $9.11 billion, a P/E ratio of -57.38 and a beta of 1.87. Zillow Group has a one year low of $33.23 and a one year high of $59.23. The stock’s 50-day simple moving average is $47.91 and its 200 day simple moving average is $47.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.24 and a current ratio of 3.24.

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

Insider Activity at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 3,086 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $58.00, for a total transaction of $178,988.00. Following the transaction, the insider now owns 48,294 shares of the company’s stock, valued at approximately $2,801,052. 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, insider Dan Spaulding sold 3,086 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $58.00, for a total value of $178,988.00. Following the completion of the sale, the insider now owns 48,294 shares in the company, valued at $2,801,052. The sale was disclosed in a filing with the SEC, which is accessible through 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 transaction, the insider now owns 168,863 shares in the company, valued at $8,375,604.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,289 shares of company stock valued at $9,642,508. Insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC bought a new position in shares of Zillow Group in the fourth quarter valued at about $26,000. Creative Financial Designs Inc. ADV acquired a new position in Zillow Group in the 4th quarter valued at about $31,000. Fidelis Capital Partners LLC acquired a new position in Zillow Group in the 1st quarter valued at about $32,000. Quadrant Capital Group LLC raised its holdings in Zillow Group by 45.1% in the 4th quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock valued at $43,000 after acquiring an additional 237 shares during the period. Finally, CWM LLC lifted 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 worth $55,000 after acquiring an additional 611 shares during the last quarter. 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.