Zillow Group (NASDAQ:ZG) PT Raised to $71.00 at DA Davidson

Zillow Group (NASDAQ:ZG) had its target price hoisted by analysts at DA Davidson from $52.00 to $71.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s target price points to a potential upside of 11.76% from the stock’s previous close.

A number of other research firms have also recently commented on ZG. Craig Hallum lifted their price target on shares of Zillow Group from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Citigroup increased their target price on Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $47.00 price target on shares of Zillow Group in a report on Monday. Royal Bank of Canada raised their target price on shares of Zillow Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, UBS Group increased their price objective on Zillow Group from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Zillow Group has an average rating of “Moderate Buy” and a consensus target price of $60.94.

Zillow Group Price Performance

ZG stock opened at $63.53 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12. The company’s fifty day moving average price is $52.88 and its 200-day moving average price is $47.61. Zillow Group has a one year low of $33.23 and a one year high of $66.75. The company has a market capitalization of $14.70 billion, a PE ratio of -92.07 and a beta of 2.00.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, August 7th. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The company had revenue of $572.00 million for the quarter, compared to the consensus estimate of $538.36 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts anticipate that Zillow Group will post -0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at $379,983.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zillow Group news, CAO Jennifer Rock sold 4,050 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total transaction of $199,381.50. Following the transaction, the chief accounting officer now owns 79,694 shares in the company, valued at $3,923,335.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Bohutinsky sold 20,625 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the sale, the director now directly owns 5,652 shares in the company, valued at $379,983.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,999 shares of company stock valued at $11,780,363. Company insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Several institutional investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC purchased a new stake in shares of Zillow Group during the first quarter worth approximately $32,000. EntryPoint Capital LLC purchased a new position in shares of Zillow Group during the 1st quarter worth $53,000. Signaturefd LLC boosted its position in shares of Zillow Group by 29.7% during the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after acquiring an additional 360 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Zillow Group in the first quarter valued at about $84,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Zillow Group during the first quarter worth about $118,000. 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.