Piper Sandler Issues Pessimistic Forecast for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its price objective cut by Piper Sandler from $93.00 to $90.00 in a report published on Wednesday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other equities research analysts also recently issued research reports about the stock. JMP Securities upped their target price on shares of Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a research note on Monday, December 16th. Susquehanna upped their price objective on shares of Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Royal Bank of Canada lifted their target price on Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Craig Hallum increased their price target on Zillow Group from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, DA Davidson lifted their price objective on Zillow Group from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.95.

Zillow Group Price Performance

Shares of ZG stock opened at $74.87 on Wednesday. The firm’s 50 day moving average price is $75.68 and its two-hundred day moving average price is $65.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. Zillow Group has a 52-week low of $38.06 and a 52-week high of $86.58. The stock has a market cap of $17.49 billion, a PE ratio of -131.35, a PEG ratio of 15.65 and a beta of 2.09.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. As a group, analysts forecast that Zillow Group will post -0.42 EPS for the current year.

Insider Activity at Zillow Group

In other news, CAO Jennifer Rock sold 8,225 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $73.05, for a total transaction of $600,836.25. Following the sale, the chief accounting officer now owns 61,424 shares in the company, valued at $4,487,023.20. This represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO David A. Beitel sold 56,750 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $72.39, for a total transaction of $4,108,132.50. Following the completion of the transaction, the chief technology officer now directly owns 92 shares of the company’s stock, valued at $6,659.88. This represents a 99.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,730 shares of company stock valued at $10,896,034. Insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in Zillow Group during the fourth quarter worth about $165,326,000. Arrowstreet Capital Limited Partnership raised its stake in Zillow Group by 1,261.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company’s stock valued at $18,454,000 after buying an additional 241,331 shares during the period. Virtu Financial LLC lifted its position in shares of Zillow Group by 101.3% in the fourth quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock valued at $29,775,000 after buying an additional 211,482 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Zillow Group during the 4th quarter worth approximately $14,916,000. Finally, Cynosure Group LLC bought a new position in shares of Zillow Group during the 3rd quarter worth approximately $12,248,000. 20.32% of the stock is 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.