Canaccord Genuity Group Increases Zillow Group (NASDAQ:ZG) Price Target to $64.00

Zillow Group (NASDAQ:ZG) had its price target upped by Canaccord Genuity Group from $56.00 to $64.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s target price would indicate a potential downside of 10.19% from the stock’s current price.

ZG has been the subject of several other reports. Piper Sandler reissued an “overweight” rating and issued a $73.00 price objective (up from $62.00) on shares of Zillow Group in a research note on Thursday. JMP Securities increased their target price on shares of Zillow Group from $62.00 to $82.00 and gave the company a “market outperform” rating in a research report on Thursday. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $50.00 to $80.00 in a research report on Monday, September 16th. The Goldman Sachs Group upped their price objective on shares of Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Royal Bank of Canada boosted their target price on Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group has a consensus rating of “Moderate Buy” and a consensus price target of $66.06.

Zillow Group Stock Up 1.7 %

Zillow Group stock opened at $71.26 on Thursday. Zillow Group has a 12 month low of $34.33 and a 12 month high of $72.03. The stock has a market capitalization of $16.49 billion, a PE ratio of -125.02 and a beta of 2.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The business has a 50 day simple moving average of $59.60 and a 200-day simple moving average of $50.51.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.34%. The company had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $538.36 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts anticipate that Zillow Group will post -0.33 EPS for the current fiscal year.

Insider Transactions at Zillow Group

In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of the firm’s stock in a transaction that occurred on 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 owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Jeremy Hofmann sold 7,155 shares of Zillow Group stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $56.89, for a total value of $407,047.95. Following the transaction, the chief financial officer now directly owns 111,239 shares of the company’s stock, valued at $6,328,386.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy Bohutinsky sold 20,625 shares of the 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 owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,596 shares of company stock valued at $3,938,581. 17.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC lifted its position in shares of Zillow Group by 29.7% in the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after acquiring an additional 360 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Zillow Group by 9.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,669 shares of the technology company’s stock valued at $210,000 after purchasing an additional 421 shares in the last quarter. Creative Planning boosted 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 during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Zillow Group during the 3rd quarter worth about $29,000. Finally, Wedmont Private Capital raised its position in shares of Zillow Group by 4.2% in the second quarter. Wedmont Private Capital now owns 12,483 shares of the technology company’s stock valued at $610,000 after buying an additional 504 shares during the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

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.