DA Davidson Cuts Zillow Group (NASDAQ:ZG) Price Target to $85.00

Zillow Group (NASDAQ:ZG) had its target price reduced by DA Davidson from $90.00 to $85.00 in a research report report published on Thursday,Benzinga reports. DA Davidson currently has a buy rating on the technology company’s stock.

A number of other research analysts have also recently weighed in on ZG. Benchmark lifted their price objective on shares of Zillow Group from $80.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Canaccord Genuity Group cut their price objective on Zillow Group from $86.00 to $76.00 and set a “hold” rating on the stock in a research report on Monday. Evercore ISI increased their price objective on Zillow Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Stephens reissued an “overweight” rating and set a $73.00 target price on shares of Zillow Group in a research note on Wednesday, February 12th. Finally, William Blair initiated coverage on Zillow Group in a research report on Monday, April 21st. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Zillow Group has a consensus rating of “Moderate Buy” and an average target price of $81.80.

Zillow Group Stock Up 0.5 %

NASDAQ:ZG opened at $66.76 on Thursday. Zillow Group has a 52 week low of $38.40 and a 52 week high of $86.58. The stock’s fifty day moving average is $66.47 and its two-hundred day moving average is $71.07. The stock has a market capitalization of $16.19 billion, a price-to-earnings ratio of -142.04, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, May 7th. The technology company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). The firm had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $587.88 million. Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 earnings per share. On average, sell-side analysts expect that Zillow Group will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Jun Choo sold 55,000 shares of Zillow Group stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the completion of the transaction, the chief operating officer now directly owns 86,853 shares of the company’s stock, valued at approximately $6,790,167.54. The trade was a 38.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Errol G. Samuelson sold 2,854 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total value of $209,312.36. Following the sale, the insider now owns 142,636 shares in the company, valued at approximately $10,460,924.24. The trade was a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,919 shares of company stock worth $5,744,978 in the last quarter. 17.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently made changes to their positions in the business. O Shaughnessy Asset Management LLC increased its holdings in Zillow Group by 13.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,191 shares of the technology company’s stock valued at $84,000 after acquiring an additional 138 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Zillow Group by 24.0% during the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after purchasing an additional 159 shares in the last quarter. Blue Trust Inc. raised its position in shares of Zillow Group by 70.2% during the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after purchasing an additional 172 shares during the last quarter. M&T Bank Corp raised its position in shares of Zillow Group by 4.1% during the 1st quarter. M&T Bank Corp now owns 5,437 shares of the technology company’s stock worth $363,000 after purchasing an additional 215 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its stake in Zillow Group by 0.3% in the 1st quarter. Baillie Gifford & Co. now owns 92,289 shares of the technology company’s stock valued at $6,170,000 after buying an additional 264 shares in the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

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.