Zillow Group (NASDAQ:ZG) Given New $61.00 Price Target at JPMorgan Chase & Co.

Zillow Group (NASDAQ:ZG) had its price target reduced by JPMorgan Chase & Co. from $65.00 to $61.00 in a research report sent to investors on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other brokerages have also recently weighed in on ZG. 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. Barclays boosted their price target on shares of Zillow Group from $32.00 to $40.00 and gave the company an underweight rating in a report on Wednesday, February 21st. DA Davidson reaffirmed a buy rating and issued a $63.00 price objective on shares of Zillow Group in a report on Friday, April 5th. Susquehanna raised their price target on shares of Zillow Group from $36.00 to $60.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Finally, Bank of America downgraded Zillow Group from a buy rating to a neutral rating in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Zillow Group has an average rating of Moderate Buy and an average target price of $57.25.

Zillow Group Stock Performance

Shares of ZG opened at $40.07 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.32 and a quick ratio of 3.24. Zillow Group has a 12-month low of $33.23 and a 12-month high of $59.23. The business’s fifty day moving average price is $47.44 and its 200 day moving average price is $47.55. The stock has a market capitalization of $9.36 billion, a PE ratio of -58.07 and a beta of 1.87.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.06. The business had revenue of $474.00 million during the quarter, compared to analyst estimates of $450.75 million. Zillow Group had a negative net margin of 7.93% and a negative return on equity of 2.28%. Equities research analysts forecast that Zillow Group will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other news, insider Errol G. Samuelson sold 4,219 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $8,375,604.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Dan Spaulding sold 3,086 shares of the company’s stock in a transaction that occurred 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 approximately $2,801,052. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Errol G. Samuelson sold 4,219 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total transaction of $209,262.40. Following the completion of the transaction, the insider now directly owns 168,863 shares of the company’s stock, valued at approximately $8,375,604.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,289 shares of company stock worth $9,642,508. 17.14% of the stock is owned by insiders.

Institutional Trading of Zillow Group

A number of hedge funds have recently modified their holdings of ZG. GAMMA Investing LLC acquired a new position in Zillow Group during the fourth quarter valued at $26,000. Creative Financial Designs Inc. ADV acquired a new stake in Zillow Group during the 4th quarter worth about $31,000. Fidelis Capital Partners LLC purchased a new position in Zillow Group during the 1st quarter valued at about $32,000. Quadrant Capital Group LLC increased its holdings in shares of 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 purchasing an additional 237 shares during the period. Finally, CWM LLC lifted its position in shares of Zillow Group by 100.0% in the third quarter. CWM LLC now owns 1,222 shares of the technology company’s stock worth $55,000 after purchasing an additional 611 shares in the last quarter. Hedge funds and other 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.