Zillow Group (NASDAQ:ZG) Stock Price Target Cut by Royal Bank Of Canada

by · The Markets Daily

Zillow Group (NASDAQ:ZG – Get Free Report) had its target price dropped by research analysts at Royal Bank Of Canada from $55.00 to $45.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank Of Canada‘s price objective would suggest a potential upside of 40.82% from the company’s previous close.

Several other research analysts have also recently weighed in on ZG. Susquehanna lowered their price target on shares of Zillow Group from $50.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 6th. DA Davidson reduced their price objective on Zillow Group from $60.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Citizens Jmp decreased their target price on Zillow Group from $75.00 to $46.00 and set a “market outperform” rating on the stock in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft set a $80.00 target price on Zillow Group in a research note on Monday, August 24th. Finally, Benchmark reissued a “buy” rating on shares of Zillow Group in a report on Monday, August 24th. Ten research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $50.33.

Read Our Latest Research Report on Zillow Group

Zillow Group Price Performance

Zillow Group stock traded down $0.94 during mid-day trading on Tuesday, hitting $31.95. 87,701 shares of the company’s stock traded hands, compared to its average volume of 1,148,513. The firm has a 50 day simple moving average of $32.00 and a two-hundred day simple moving average of $39.21. Zillow Group has a fifty-two week low of $27.25 and a fifty-two week high of $74.80. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 145.13, a P/E/G ratio of 1.35 and a beta of 2.02.

Zillow Group (NASDAQ:ZG – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.08. The company had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.25 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The company’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, research analysts anticipate that Zillow Group will post 0.91 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other Zillow Group news, Director Claire Thielke sold 1,187 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $35.71, for a total value of $42,387.77. Following the completion of the sale, the director owned 2,375 shares of the company’s stock, valued at $84,811.25. The trade was a 33.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dan Spaulding sold 3,169 shares of the stock in a transaction that occurred 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 approximately $1,576,122.57. The trade was a 6.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 38,539 shares of company stock worth $1,323,800. Company insiders own 29.88% of the company’s stock.

Institutional Trading of Zillow Group

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC acquired a new stake in Zillow Group during the 3rd quarter worth approximately $154,000. One Wealth Capital Management LLC acquired a new position in shares of Zillow Group in the 3rd quarter valued at about $216,000. SBI Securities Co. Ltd. boosted its holdings in shares of Zillow Group by 23.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 9,287 shares of the technology company’s stock worth $257,000 after buying an additional 1,753 shares in the last quarter. Quadrant Capital Group LLC bought a new stake in shares of Zillow Group in the 3rd quarter valued at $214,000. Finally, Pinnacle Associates Ltd. lifted its position in shares of Zillow Group by 21.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 8,779 shares of the technology company’s stock valued at $243,000 after acquiring an additional 1,536 shares during the period. 20.32% of the stock is currently owned by institutional investors.

About Zillow Group

(Get Free Report)

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.

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