Craig Hallum Increases Zillow Group (NASDAQ:ZG) Price Target to $55.00

Zillow Group (NASDAQ:ZG) had its price objective boosted by Craig Hallum from $51.00 to $55.00 in a report released on Thursday, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other equities analysts have also issued reports on the company. Evercore ISI boosted their price objective on Zillow Group from $50.00 to $55.00 and gave the company an outperform rating in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Zillow Group from $65.00 to $61.00 and set an overweight rating for the company in a research report on Thursday, May 2nd. Benchmark reaffirmed a buy rating and issued a $60.00 price objective on shares of Zillow Group in a research report on Tuesday, April 30th. JMP Securities lowered their target price on Zillow Group from $68.00 to $62.00 and set a market outperform rating for the company in a report on Thursday, May 2nd. Finally, DA Davidson restated a buy rating and issued a $52.00 price target on shares of Zillow Group in a report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $59.27.

Zillow Group Trading Up 4.7 %

NASDAQ:ZG traded up $2.26 on Thursday, reaching $49.96. The company’s stock had a trading volume of 1,196,135 shares, compared to its average volume of 664,298. Zillow Group has a 1-year low of $33.23 and a 1-year high of $59.23. The business’s 50-day moving average price is $45.71 and its two-hundred day moving average price is $47.18. The firm has a market cap of $11.80 billion, a PE ratio of -72.28 and a beta of 2.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.32 and a current ratio of 3.32.

Insider Activity

In other news, Director Jay C. Hoag purchased 1,000,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were purchased at an average cost of $42.27 per share, with a total value of $42,270,000.00. Following the completion of the transaction, the director now owns 652,520 shares of the company’s stock, valued at approximately $27,582,020.40. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Susan Daimler sold 5,786 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $44.22, for a total value of $255,856.92. Following the completion of the sale, the insider now directly owns 35,572 shares of the company’s stock, valued at $1,572,993.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jay C. Hoag bought 1,000,000 shares of Zillow Group stock in a transaction dated Friday, June 7th. The shares were acquired at an average price of $42.27 per share, with a total value of $42,270,000.00. Following the completion of the purchase, the director now directly owns 652,520 shares in the company, valued at approximately $27,582,020.40. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 60,041 shares of company stock valued at $2,637,477. 17.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Zillow Group

Several hedge funds have recently added to or reduced their stakes in the business. Shannon River Fund Management LLC acquired a new stake in Zillow Group during the fourth quarter worth approximately $4,384,000. GSA Capital Partners LLP boosted its stake in Zillow Group by 47.8% in the 4th quarter. GSA Capital Partners LLP now owns 78,301 shares of the technology company’s stock valued at $4,441,000 after purchasing an additional 25,333 shares during the period. Norges Bank acquired a new position in Zillow Group in the 4th quarter valued at $102,096,000. CWM LLC increased its position in Zillow Group by 3,675.7% during the 4th quarter. CWM LLC now owns 46,139 shares of the technology company’s stock worth $2,617,000 after buying an additional 44,917 shares during the period. Finally, Edgestream Partners L.P. lifted its holdings in shares of Zillow Group by 140.6% during the first quarter. Edgestream Partners L.P. now owns 20,735 shares of the technology company’s stock worth $992,000 after buying an additional 12,116 shares in the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.