Zillow Group (NASDAQ:ZG) Stock Gets Price Target Trim from UBS Group

Zillow Group (NASDAQ:ZG) had its price objective lowered by UBS Group from $50.00 to $48.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Susquehanna reduced their target price on shares of Zillow Group from $50.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Piper Sandler lowered their price target on shares of Zillow Group from $55.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. KeyCorp reaffirmed an “overweight” rating and set a $48.00 price objective on shares of Zillow Group in a research note on Tuesday, August 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Zillow Group in a research note on Wednesday, August 19th. Finally, DA Davidson cut their price objective on shares of Zillow Group from $60.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $51.10.

Zillow Group Price Performance

Shares of NASDAQ:ZG opened at $31.89 on Wednesday. The business’s 50 day moving average price is $32.08 and its 200-day moving average price is $39.38. The firm has a market capitalization of $7.17 billion, a PE ratio of 144.96, a P/E/G ratio of 1.36 and a beta of 2.02. Zillow Group has a 1 year low of $27.25 and a 1 year high of $74.80.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.44 by $0.08. The firm had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.25 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. The firm’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS. As a group, analysts expect that Zillow Group will post 0.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Dan Spaulding sold 3,169 shares of Zillow Group stock in a transaction on Friday, August 14th. The stock was sold at an average price of $35.37, for a total transaction of $112,087.53. Following the transaction, the insider owned 44,561 shares in the company, valued at $1,576,122.57. The trade was a 6.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Erik Blachford sold 792 shares of Zillow Group stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total value of $28,282.32. Following the transaction, the director owned 34,160 shares in the company, valued at approximately $1,219,853.60. This represents a 2.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 38,539 shares of company stock worth $1,323,800. 29.88% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors have recently bought and sold shares of ZG. Ninety One SA Pty Ltd acquired a new stake in Zillow Group during the third quarter worth $26,000. Integrated Wealth Concepts LLC acquired a new stake in Zillow Group during the second quarter worth $29,000. EverSource Wealth Advisors LLC raised its position in Zillow Group by 183.6% in the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after purchasing an additional 637 shares during the period. Fifth Third Bancorp raised its position in Zillow Group by 990.3% in the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock valued at $42,000 after purchasing an additional 921 shares during the period. Finally, Nykredit A S purchased a new stake in Zillow Group in the second quarter valued at $65,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Company Profile

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers, real estate professionals, and other housing industry participants. Its services are designed to help people search for homes, understand property values, connect with agents, and manage transactions throughout the residential real estate process.

The company’s portfolio includes Zillow, Trulia, StreetEasy, HotPads, and ShowingTime+. Zillow provides home listings, estimated property values, rental information, agent connections, mortgage resources, and other housing-related tools.