Robert W. Baird Initiates Coverage on Zillow Group (NASDAQ:ZG)

Robert W. Baird began coverage on shares of Zillow Group (NASDAQ:ZG) in a research note released on Friday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $88.00 target price on the technology company’s stock.

Several other analysts also recently weighed in on ZG. 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. Evercore ISI boosted their target price on Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Craig Hallum increased their target price on Zillow Group from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. UBS Group lifted their price target on Zillow Group from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, JMP Securities increased their price objective on Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.83.

Zillow Group Price Performance

Shares of Zillow Group stock opened at $79.20 on Friday. The firm has a market capitalization of $18.50 billion, a PE ratio of -138.95, a price-to-earnings-growth ratio of 10.81 and a beta of 2.09. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. Zillow Group has a 12 month low of $38.06 and a 12 month high of $83.67. The business’s 50-day moving average price is $75.56 and its 200-day moving average price is $63.80.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $581.00 million for the quarter, compared to analysts’ expectations of $555.45 million. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the business earned ($0.12) earnings per share. Sell-side analysts forecast that Zillow Group will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Jennifer Rock sold 3,033 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $82.78, for a total value of $251,071.74. Following the completion of the transaction, the chief accounting officer now directly owns 57,166 shares in the company, valued at $4,732,201.48. This trade represents a 5.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeremy Hofmann sold 23,388 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the sale, the chief financial officer now directly owns 99,362 shares in the company, valued at $8,443,782.76. The trade was a 19.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,689 shares of company stock valued at $12,520,379 over the last three months. Corporate insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Truist Financial Corp grew its stake in shares of Zillow Group by 67.9% in the 4th quarter. Truist Financial Corp now owns 6,196 shares of the technology company’s stock worth $439,000 after buying an additional 2,506 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Zillow Group by 0.6% in the fourth quarter. Baillie Gifford & Co. now owns 92,025 shares of the technology company’s stock worth $6,520,000 after acquiring an additional 509 shares in the last quarter. Allworth Financial LP grew its stake in shares of Zillow Group by 585.5% in the fourth quarter. Allworth Financial LP now owns 3,112 shares of the technology company’s stock worth $237,000 after acquiring an additional 2,658 shares during the last quarter. ABC Arbitrage SA bought a new position in shares of Zillow Group during the fourth quarter valued at $1,265,000. Finally, Vontobel Holding Ltd. raised its position in shares of Zillow Group by 4.9% in the 4th quarter. Vontobel Holding Ltd. now owns 17,208 shares of the technology company’s stock worth $1,219,000 after purchasing an additional 801 shares during the last quarter. Institutional investors 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.