Piper Sandler Reaffirms Overweight Rating for Zillow Group (NASDAQ:ZG)

Zillow Group (NASDAQ:ZG)‘s stock had its “overweight” rating reissued by Piper Sandler in a research note issued on Thursday, Benzinga reports. They currently have a $73.00 price target on the technology company’s stock, up from their prior price target of $62.00. Piper Sandler’s target price would indicate a potential upside of 14.33% from the stock’s previous close.

ZG has been the topic of several other research reports. Barclays boosted their price objective on shares of Zillow Group from $35.00 to $36.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. Citigroup upped their target price on shares of Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 target price on shares of Zillow Group in a research note on Tuesday, October 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $47.00 target price on shares of Zillow Group in a research note on Monday, October 7th. Finally, Evercore ISI upped their target price on shares of Zillow Group from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.76.

Zillow Group Trading Up 13.9 %

NASDAQ:ZG opened at $63.85 on Thursday. Zillow Group has a one year low of $34.33 and a one year high of $66.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The company’s 50-day simple moving average is $58.92 and its 200 day simple moving average is $50.17. The firm has a market capitalization of $14.78 billion, a P/E ratio of -104.67 and a beta of 2.02.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.31 by $0.08. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The business had revenue of $572.00 million for the quarter, compared to analyst estimates of $538.36 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Zillow Group’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, analysts forecast that Zillow Group will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, Chairman Lloyd D. Frink sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the completion of the sale, the chairman now directly owns 582 shares of the company’s stock, valued at approximately $29,583.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the transaction, the director now directly owns 5,652 shares in the company, valued at $379,983.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Lloyd D. Frink sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the completion of the transaction, the chairman now owns 582 shares of the company’s stock, valued at approximately $29,583.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 217,949 shares of company stock valued at $11,580,982. Insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Zillow Group by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock worth $19,901,000 after purchasing an additional 35,503 shares during the period. Selkirk Management LLC boosted its position in shares of Zillow Group by 37.4% in the second quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock worth $14,449,000 after purchasing an additional 87,300 shares during the period. US Bancorp DE boosted its position in shares of Zillow Group by 6.5% during the third quarter. US Bancorp DE now owns 297,819 shares of the technology company’s stock worth $18,444,000 after acquiring an additional 18,136 shares during the last quarter. Raymond James & Associates boosted its position in shares of Zillow Group by 7.0% during the second quarter. Raymond James & Associates now owns 193,023 shares of the technology company’s stock worth $8,694,000 after acquiring an additional 12,616 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Zillow Group by 4.7% during the second quarter. Bank of New York Mellon Corp now owns 162,647 shares of the technology company’s stock worth $7,326,000 after acquiring an additional 7,311 shares during the last quarter. 20.32% of the stock is currently owned by 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.