DA Davidson Issues Positive Forecast for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its target price hoisted by DA Davidson from $71.00 to $75.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other brokerages have also issued reports on ZG. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price target (up from $62.00) on shares of Zillow Group in a report on Thursday. Benchmark increased 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. The Goldman Sachs Group upped their price target on shares of Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday. Royal Bank of Canada lifted their price target on shares of Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $47.00 price target on shares of Zillow Group in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, five 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 presently has an average rating of “Moderate Buy” and a consensus target price of $65.28.

Zillow Group Stock Up 0.8 %

Shares of NASDAQ ZG traded up $0.54 during midday trading on Thursday, reaching $70.63. The company’s stock had a trading volume of 410,589 shares, compared to its average volume of 623,155. 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 business’s 50 day moving average price is $59.25 and its two-hundred day moving average price is $50.30. Zillow Group has a fifty-two week low of $34.33 and a fifty-two week high of $71.28.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, beating 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 2.34% and a negative net margin of 6.17%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.05) EPS. On average, equities analysts forecast that Zillow Group will post -0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was 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 in the company, valued at approximately $379,983.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Zillow Group news, 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 transaction of $1,386,618.75. Following the completion of the sale, the director now owns 5,652 shares of the company’s stock, valued at $379,983.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Bradley D. Owens sold 752 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total value of $39,953.76. Following the transaction, the general counsel now owns 35,259 shares in the company, valued at $1,873,310.67. This trade represents 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 67,596 shares of company stock worth $3,938,581 over the last 90 days. Corporate insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds have recently made changes to their positions in the business. Edgestream Partners L.P. increased its stake in Zillow Group by 140.6% in the 1st quarter. Edgestream Partners L.P. now owns 20,735 shares of the technology company’s stock worth $992,000 after purchasing an additional 12,116 shares during the period. US Bancorp DE grew its holdings in Zillow Group by 42.6% in the 1st quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock worth $11,775,000 after acquiring an additional 73,504 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Zillow Group in the first quarter valued at about $1,597,000. Russell Investments Group Ltd. raised its stake in shares of Zillow Group by 148.6% during the first quarter. Russell Investments Group Ltd. now owns 31,934 shares of the technology company’s stock valued at $1,528,000 after acquiring an additional 19,087 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Zillow Group by 24.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 49,569 shares of the technology company’s stock worth $2,233,000 after purchasing an additional 9,828 shares during the period. 20.32% of the stock is currently owned by institutional investors.

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.