Zillow Group (NASDAQ:ZG) Earns “Outperform” Rating from Royal Bank of Canada

Zillow Group (NASDAQ:ZG)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a research note issued on Wednesday,Benzinga reports. They presently have a $88.00 price target on the technology company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 18.02% from the stock’s current price.

Other analysts have also issued reports about the company. KeyCorp upgraded Zillow Group from a “sector weight” rating to an “overweight” rating and set a $100.00 price objective for the company in a research report on Monday, February 3rd. Canaccord Genuity Group boosted their price target on shares of Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a research note on Monday, December 2nd. Piper Sandler cut their price objective on shares of Zillow Group from $93.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. Craig Hallum lifted their target price on shares of Zillow Group from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Evercore ISI increased their price target on Zillow Group from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.26.

Zillow Group Price Performance

NASDAQ ZG traded down $9.28 on Wednesday, hitting $74.56. 1,228,957 shares of the company were exchanged, compared to its average volume of 474,922. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. The company has a market cap of $17.41 billion, a P/E ratio of -130.57, a P/E/G ratio of 15.65 and a beta of 2.09. Zillow Group has a 1-year low of $38.06 and a 1-year high of $86.58. The firm has a 50 day moving average of $75.77 and a two-hundred day moving average of $65.66.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate 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%. On average, equities analysts predict that Zillow Group will post -0.42 EPS for the current year.

Insider Transactions at Zillow Group

In related news, CFO Jeremy Hofmann sold 1,612 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $84.98, for a total transaction of $136,987.76. Following the completion of the transaction, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Bradley D. Owens sold 1,846 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $73.03, for a total value of $134,813.38. Following the completion of the sale, the general counsel now owns 29,893 shares in the company, valued at $2,183,085.79. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 142,730 shares of company stock valued at $10,896,034 over the last quarter. Corporate insiders own 17.14% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ZG. GAMMA Investing LLC raised its holdings in Zillow Group by 86.7% during the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after acquiring an additional 561 shares in the last quarter. Creative Planning raised its stake in shares of Zillow Group by 7.2% during the 3rd quarter. Creative Planning now owns 6,537 shares of the technology company’s stock worth $405,000 after purchasing an additional 439 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Zillow Group by 4.8% in the third quarter. Vontobel Holding Ltd. now owns 16,407 shares of the technology company’s stock valued at $1,016,000 after buying an additional 750 shares in the last quarter. Private Advisor Group LLC acquired a new position in Zillow Group during the third quarter worth $747,000. Finally, Avitas Wealth Management LLC acquired a new position in Zillow Group during the third quarter worth $1,562,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

About Zillow Group

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.