Canaccord Genuity Group Lowers Zillow Group (NASDAQ:ZG) Price Target to $50.00

Zillow Group (NASDAQ:ZG) had its price objective cut by investment analysts at Canaccord Genuity Group from $58.00 to $50.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s price objective points to a potential upside of 15.53% from the company’s current price.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Zillow Group in a report on Tuesday, March 5th. Piper Sandler lifted their price target on shares of Zillow Group from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Benchmark raised their price target on Zillow Group from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. JMP Securities reiterated a “market outperform” rating and issued a $68.00 price target on shares of Zillow Group in a research report on Friday, April 12th. Finally, Bank of America cut shares of Zillow Group from a “buy” rating to a “neutral” rating in a report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.20.

Zillow Group Price Performance

Zillow Group stock traded up $0.15 on Monday, reaching $43.28. The company’s stock had a trading volume of 167,200 shares, compared to its average volume of 675,989. The business’s fifty day moving average price is $48.50 and its 200 day moving average price is $47.65. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.24 and a current ratio of 3.24. The company has a market cap of $10.10 billion, a price-to-earnings ratio of -63.90 and a beta of 1.83. Zillow Group has a twelve month low of $33.23 and a twelve month high of $59.23.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) 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 the consensus estimate of $450.75 million. Equities analysts expect that Zillow Group will post -0.15 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In other news, General Counsel Bradley D. Owens sold 966 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total transaction of $56,037.66. Following the completion of the sale, the general counsel now owns 17,181 shares in the company, valued at $996,669.81. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Zillow Group news, COO Jeremy Wacksman sold 2,704 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total value of $156,859.04. Following the sale, the chief operating officer now owns 71,261 shares in the company, valued at approximately $4,133,850.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Bradley D. Owens sold 966 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total value of $56,037.66. Following the transaction, the general counsel now owns 17,181 shares of the company’s stock, valued at $996,669.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 171,289 shares of company stock valued at $9,642,508. 17.14% of the stock is owned by corporate insiders.

Institutional Trading of Zillow Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in shares of Zillow Group by 244.2% during the 1st 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 in the last quarter. Raymond James & Associates raised its stake in shares of Zillow Group by 1.7% during the 1st quarter. Raymond James & Associates now owns 180,407 shares of the technology company’s stock valued at $8,634,000 after purchasing an additional 2,999 shares during the period. Polianta Ltd purchased a new position in Zillow Group in the first quarter worth $1,134,000. Vanguard Group Inc. lifted its holdings in Zillow Group by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock worth $456,861,000 after buying an additional 1,730,731 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in shares of Zillow Group by 47.8% in the fourth quarter. GSA Capital Partners LLP now owns 78,301 shares of the technology company’s stock worth $4,441,000 after buying an additional 25,333 shares in the last quarter. 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.