Robert W. Baird Cuts Zillow Group (NASDAQ:ZG) Price Target to $55.00
by Kim Johansen · The Markets DailyZillow Group (NASDAQ:ZG – Get Free Report) had its price target decreased by investment analysts at Robert W. Baird from $67.00 to $55.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target would suggest a potential upside of 20.78% from the stock’s previous close.
A number of other equities analysts have also recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Zillow Group from $73.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 10th. Canaccord Genuity Group set a $72.00 target price on shares of Zillow Group in a report on Wednesday, February 11th. Mizuho set a $65.00 price target on shares of Zillow Group in a research note on Wednesday, February 11th. Barclays cut their price objective on shares of Zillow Group from $72.00 to $66.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. Finally, BNP Paribas Exane assumed coverage on Zillow Group in a research report on Wednesday, January 14th. They issued an “outperform” rating and a $85.00 target price on the stock. Fourteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $77.50.
Get Our Latest Stock Analysis on ZG
Zillow Group Price Performance
Shares of NASDAQ ZG opened at $45.54 on Wednesday. Zillow Group has a fifty-two week low of $40.69 and a fifty-two week high of $90.22. The stock has a market capitalization of $10.93 billion, a price-to-earnings ratio of 504.57, a PEG ratio of 2.36 and a beta of 2.06. The business has a 50-day moving average of $54.06 and a 200-day moving average of $66.21.
Zillow Group (NASDAQ:ZG – Get Free Report) last released its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). The company had revenue of $654.00 million during the quarter, compared to analyst estimates of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS. On average, sell-side analysts expect that Zillow Group will post 0.32 EPS for the current year.
Insider Activity at Zillow Group
In other Zillow Group news, CFO Jeremy Hofmann sold 7,786 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total transaction of $340,481.78. Following the completion of the transaction, the chief financial officer directly owned 57,487 shares in the company, valued at $2,513,906.51. The trade was a 11.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dan Spaulding sold 5,361 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $43.95, for a total value of $235,615.95. Following the sale, the insider owned 41,080 shares of the company’s stock, valued at $1,805,466. The trade was a 11.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 60,801 shares of company stock worth $2,683,986 in the last 90 days. Corporate insiders own 17.14% of the company’s stock.
Hedge Funds Weigh In On Zillow Group
A number of institutional investors have recently modified their holdings of ZG. Rockefeller Capital Management L.P. boosted its stake in Zillow Group by 4,488.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 15,554 shares of the technology company’s stock valued at $1,061,000 after buying an additional 15,215 shares in the last quarter. Invesco Ltd. raised its stake in Zillow Group by 21.1% during the fourth quarter. Invesco Ltd. now owns 62,706 shares of the technology company’s stock worth $4,278,000 after acquiring an additional 10,941 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Zillow Group by 25.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,712 shares of the technology company’s stock worth $458,000 after acquiring an additional 1,342 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Zillow Group by 17.9% in the fourth quarter. Empowered Funds LLC now owns 6,276 shares of the technology company’s stock worth $428,000 after acquiring an additional 955 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Zillow Group in the 4th quarter valued at approximately $8,009,000. Institutional investors and hedge funds own 20.32% of the company’s stock.
Zillow Group Company Profile
Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.
Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.