Zillow Group (NASDAQ:ZG) Earns Market Outperform Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Zillow Group (NASDAQ:ZG) in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a $62.00 price objective on the technology company’s stock.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada upped their target price on Zillow Group from $60.00 to $66.00 and gave the company an outperform rating in a research report on Thursday, August 29th. Cantor Fitzgerald reissued a neutral rating and issued a $47.00 target price on shares of Zillow Group in a research report on Monday, October 7th. UBS Group upped their target price on Zillow Group from $68.00 to $70.00 and gave the company a buy rating in a research report on Thursday, August 8th. Craig Hallum upped their target price on Zillow Group from $51.00 to $55.00 and gave the company a buy rating in a research report on Thursday, August 8th. Finally, Benchmark upped their target price on Zillow Group from $60.00 to $65.00 and gave the company a buy rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $60.94.

Zillow Group Stock Performance

Shares of ZG stock opened at $60.82 on Wednesday. The business’s fifty day simple moving average is $55.85 and its 200-day simple moving average is $48.42. The company has a market cap of $14.08 billion, a PE ratio of -99.70 and a beta of 2.01. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. Zillow Group has a 12-month low of $33.23 and a 12-month high of $66.75.

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

Insider Transactions at Zillow Group

In other news, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the sale, the director now directly owns 5,652 shares of the company’s stock, valued at $379,983.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, General Counsel Bradley D. Owens sold 752 shares of Zillow Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total value of $39,953.76. Following the sale, the general counsel now directly owns 35,259 shares in the company, valued at approximately $1,873,310.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Amy Bohutinsky sold 20,625 shares of Zillow Group stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the sale, the director now owns 5,652 shares in the company, valued at approximately $379,983.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 221,999 shares of company stock valued at $11,780,363 in the last ninety days. 17.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Zillow Group by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock worth $456,861,000 after buying an additional 1,730,731 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Zillow Group by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock worth $19,901,000 after buying an additional 35,503 shares during the last quarter. Selkirk Management LLC boosted its holdings in Zillow Group by 37.4% in the 2nd quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock worth $14,449,000 after buying an additional 87,300 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Zillow Group by 42.6% during the 1st quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock worth $11,775,000 after purchasing an additional 73,504 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Zillow Group by 7.0% during the 2nd quarter. Raymond James & Associates now owns 193,023 shares of the technology company’s stock worth $8,694,000 after purchasing an additional 12,616 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

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.