Zillow Group (NASDAQ:ZG) Stock Price Target Lowered at Citigroup

Zillow Group (NASDAQ:ZG) had its target price decreased by analysts at Citigroup from $52.00 to $42.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup‘s target price would indicate a potential upside of 34.69% from the company’s current price.

Several other research firms have also recently issued reports on ZG. JPMorgan Chase & Co. decreased their price target on Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Evercore restated a “reduce” rating and set a $35.00 target price on shares of Zillow Group in a research report on Thursday. Citizens Jmp lowered their price target on shares of Zillow Group from $46.00 to $40.00 and set a “market outperform” rating for the company in a research report on Thursday. Finally, Susquehanna reduced their price objective on shares of Zillow Group from $38.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday. Nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $47.67.

Zillow Group Stock Performance

Shares of NASDAQ ZG traded up $0.82 during trading on Monday, reaching $31.18. The company had a trading volume of 480,446 shares, compared to its average volume of 1,162,817. Zillow Group has a 52 week low of $27.25 and a 52 week high of $74.80. The business’s 50 day moving average price is $31.60 and its 200-day moving average price is $38.51. The stock has a market cap of $7.01 billion, a PE ratio of -59.88, a PEG ratio of 1.30 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, November 4th. The technology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.05). The company had revenue of $724.00 million for the quarter, compared to the consensus estimate of $753.66 million. Zillow Group had a negative net margin of 3.95% and a positive return on equity of 3.23%. Zillow Group’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $0.44 earnings per share. Equities analysts anticipate that Zillow Group will post 0.91 earnings per share for the current year.

Insider Buying and Selling

In other Zillow Group news, Director Claire Thielke sold 1,187 shares of Zillow Group stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total transaction of $42,387.77. Following the transaction, the director directly owned 2,375 shares in the company, valued at approximately $84,811.25. The trade was a 33.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Hofmann sold 5,661 shares of Zillow Group stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $193,492.98. Following the transaction, the chief financial officer owned 59,144 shares in the company, valued at approximately $2,021,541.92. This represents a 8.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 38,539 shares of company stock valued at $1,323,800. 29.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds have recently modified their holdings of the business. Bessemer Group Inc. boosted its holdings in shares of Zillow Group by 17,482.5% in the third quarter. Bessemer Group Inc. now owns 7,033 shares of the technology company’s stock valued at $195,000 after buying an additional 6,993 shares during the period. Russell Investments Group Ltd. increased its position in shares of Zillow Group by 92.9% during the third quarter. Russell Investments Group Ltd. now owns 149,517 shares of the technology company’s stock worth $4,142,000 after acquiring an additional 71,996 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of Zillow Group during the third quarter worth $1,415,000. Fulcrum Asset Management LLP acquired a new stake in shares of Zillow Group during the third quarter worth $399,000. Finally, Brighton Jones LLC acquired a new stake in shares of Zillow Group during the third quarter worth $231,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc operates a digital real estate marketplace focused primarily on the United States. Its websites and mobile apps help consumers find homes for sale and rent, explore neighborhood information, and research home values.

The company’s brands include Zillow, Trulia, StreetEasy and HotPads. Zillow Group also provides services for real estate professionals, including advertising and customer-management tools, and offers mortgage services through Zillow Home Loans.

Zillow launched in 2006, founded by Rich Barton and Lloyd Frink, and grew into a parent company with multiple real estate brands and services.