Royal Bank of Canada Increases Zillow Group (NASDAQ:ZG) Price Target to $74.00

Zillow Group (NASDAQ:ZG) had its price objective hoisted by equities researchers at Royal Bank of Canada from $66.00 to $74.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 5.23% from the stock’s previous close.

ZG has been the subject of a number of other research reports. Craig Hallum boosted their price target on Zillow Group from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Citigroup upped their price target on shares of Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Benchmark lifted their price objective on shares of Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. JMP Securities upped their target price on Zillow Group from $62.00 to $82.00 and gave the stock a “market outperform” rating in a research note on Thursday. Finally, UBS Group lifted their price target on Zillow Group from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.28.

Zillow Group Stock Performance

Shares of NASDAQ ZG traded up $14.24 during midday trading on Thursday, hitting $70.32. 1,114,944 shares of the company’s stock were exchanged, compared to its average volume of 622,146. The company’s 50 day moving average price is $58.92 and its 200 day moving average price is $50.17. Zillow Group has a 12 month low of $34.33 and a 12 month high of $70.47. The firm has a market capitalization of $16.28 billion, a PE ratio of -114.25 and a beta of 2.02. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

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

Insider Transactions at Zillow Group

In other news, Director Amy Bohutinsky sold 20,625 shares of Zillow Group stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the completion of the sale, the director now owns 5,652 shares in the company, valued at approximately $379,983.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Amy Bohutinsky sold 20,625 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Bradley D. Owens sold 752 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total transaction of $39,953.76. Following the transaction, the general counsel now owns 35,259 shares in the company, valued at $1,873,310.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,949 shares of company stock valued at $11,580,982. 17.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zillow Group

Large investors have recently added to or reduced their stakes in the company. Mark Asset Management LP purchased a new stake in Zillow Group in the second quarter worth about $4,524,000. Selkirk Management LLC lifted its stake in shares of Zillow Group by 37.4% in the 2nd quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock valued at $14,449,000 after purchasing an additional 87,300 shares during the period. Garde Capital Inc. boosted its position in shares of Zillow Group by 132.7% during the second quarter. Garde Capital Inc. now owns 139,805 shares of the technology company’s stock valued at $6,297,000 after purchasing an additional 79,733 shares in the last quarter. US Bancorp DE grew its stake in Zillow Group by 42.6% in the first quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock worth $11,775,000 after purchasing an additional 73,504 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in Zillow Group by 93.3% in the third quarter. Thrivent Financial for Lutherans now owns 142,917 shares of the technology company’s stock worth $8,851,000 after purchasing an additional 68,984 shares in the last quarter. Institutional investors 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.