Cantor Fitzgerald Increases Zillow Group (NASDAQ:ZG) Price Target to $70.00

Zillow Group (NASDAQ:ZG) had its price objective hoisted by Cantor Fitzgerald from $62.00 to $70.00 in a research note released on Wednesday morning,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the technology company’s stock.

Several other research firms have also recently commented on ZG. Robert W. Baird assumed coverage on Zillow Group in a research note on Friday, January 31st. They set a “neutral” rating and a $88.00 target price for the company. Barclays increased their price objective on shares of Zillow Group from $36.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Benchmark boosted their target price on shares of Zillow Group from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Susquehanna increased their price target on shares of Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Finally, Canaccord Genuity Group boosted their price objective on Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.95.

Zillow Group Stock Performance

Shares of ZG stock opened at $74.87 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. The company’s fifty day moving average price is $75.68 and its two-hundred day moving average price is $65.73. The firm has a market capitalization of $17.49 billion, a P/E ratio of -131.35, a P/E/G ratio of 15.65 and a beta of 2.09. Zillow Group has a 12 month low of $38.06 and a 12 month high of $86.58.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) EPS 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, research analysts anticipate that Zillow Group will post -0.42 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO David A. Beitel sold 56,750 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $72.39, for a total value of $4,108,132.50. Following the completion of the sale, the chief technology officer now directly owns 92 shares of the company’s stock, valued at approximately $6,659.88. This represents a 99.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jun Choo sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $75.10, for a total transaction of $751,000.00. Following the completion of the transaction, the chief operating officer now owns 88,130 shares of the company’s stock, valued at $6,618,563. This trade represents a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 142,730 shares of company stock valued at $10,896,034. Insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZG. Franklin Resources Inc. raised its stake in shares of Zillow Group by 42.1% in the 4th quarter. Franklin Resources Inc. now owns 4,739 shares of the technology company’s stock worth $336,000 after buying an additional 1,405 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Zillow Group by 13.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,191 shares of the technology company’s stock worth $84,000 after acquiring an additional 138 shares during the period. California Public Employees Retirement System grew its holdings in Zillow Group by 5.5% during the fourth quarter. California Public Employees Retirement System now owns 132,332 shares of the technology company’s stock worth $9,376,000 after acquiring an additional 6,951 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Zillow Group by 1,261.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company’s stock valued at $18,454,000 after acquiring an additional 241,331 shares during the last quarter. Finally, Norges Bank acquired a new stake in Zillow Group in the 4th quarter valued at about $165,326,000. 20.32% of the stock is owned by 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.