Zillow Group (NASDAQ:ZG) Given New $71.00 Price Target at DA Davidson

Zillow Group (NASDAQ:ZG) had its target price increased by DA Davidson from $52.00 to $71.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other brokerages have also recently weighed in on ZG. Cantor Fitzgerald reaffirmed a neutral rating and issued a $47.00 target price on shares of Zillow Group in a report on Monday, September 23rd. Royal Bank of Canada raised their price objective on shares of Zillow Group from $60.00 to $66.00 and gave the company an outperform rating in a report on Thursday, August 29th. Benchmark lifted their price objective on shares of Zillow Group from $60.00 to $65.00 and gave the stock a buy rating in a research report on Thursday, August 8th. Citigroup increased their target price on Zillow Group from $58.00 to $62.00 and gave the company a buy rating in a report on Thursday, August 8th. Finally, Barclays lifted their price target on Zillow Group from $35.00 to $36.00 and gave the stock an underweight rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Zillow Group currently has a consensus rating of Moderate Buy and an average price target of $60.94.

Zillow Group Stock Performance

NASDAQ:ZG opened at $63.48 on Wednesday. Zillow Group has a 52 week low of $33.23 and a 52 week high of $66.75. The company has a fifty day simple moving average of $53.17 and a two-hundred day simple moving average of $47.67. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The company has a market cap of $14.99 billion, a price-to-earnings ratio of -92.00 and a beta of 2.00.

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

Insider Activity

In other news, CAO Jennifer Rock sold 4,050 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $49.23, for a total value of $199,381.50. Following the completion of the sale, the chief accounting officer now directly owns 79,694 shares of the company’s stock, valued at $3,923,335.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Amy Bohutinsky sold 20,625 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jennifer Rock sold 4,050 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $49.23, for a total transaction of $199,381.50. Following the transaction, the chief accounting officer now directly owns 79,694 shares of the company’s stock, valued at $3,923,335.62. The disclosure for this sale can be found here. Insiders have sold 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 company insiders.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Zillow Group by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock valued at $456,861,000 after purchasing an additional 1,730,731 shares in the last quarter. UBS Group AG grew its position in Zillow Group by 73.0% during the fourth quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock worth $23,832,000 after buying an additional 177,265 shares during the period. Berkshire Capital Holdings Inc. lifted its position in shares of Zillow Group by 1,145,800.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 114,590 shares of the technology company’s stock valued at $6,630,000 after acquiring an additional 114,580 shares during the period. Mark Asset Management LP acquired a new stake in shares of Zillow Group during the 2nd quarter valued at approximately $4,524,000. Finally, Selkirk Management LLC lifted its position in shares of Zillow Group by 37.4% during the 2nd quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock valued at $14,449,000 after acquiring an additional 87,300 shares during the period. 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.