Zillow Group (NASDAQ:ZG) Price Target Cut to $51.00 by Analysts at Craig Hallum

Zillow Group (NASDAQ:ZG) had its target price dropped by equities researchers at Craig Hallum from $65.00 to $51.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price would suggest a potential upside of 30.67% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada cut their price objective on shares of Zillow Group from $66.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday. Stephens reissued an “overweight” rating and issued a $79.00 price objective on shares of Zillow Group in a research note on Wednesday, February 14th. JMP Securities reissued a “market outperform” rating and issued a $68.00 price objective on shares of Zillow Group in a research note on Friday, April 12th. Barclays upped their price target on shares of Zillow Group from $32.00 to $40.00 and gave the company an “underweight” rating in a research report on Wednesday, February 21st. Finally, Susquehanna increased their price objective on shares of Zillow Group from $36.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Zillow Group Stock Performance

Shares of Zillow Group stock traded down $2.41 during trading on Thursday, hitting $39.03. 1,005,327 shares of the stock were exchanged, compared to its average volume of 689,564. The stock has a market capitalization of $9.11 billion, a price-to-earnings ratio of -57.38 and a beta of 1.87. The company has a fifty day moving average price of $47.91 and a 200-day moving average price of $47.61. Zillow Group has a 1-year low of $33.23 and a 1-year high of $59.23. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.22.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.06. Zillow Group had a negative net margin of 8.12% and a negative return on equity of 2.32%. The business had revenue of $474.00 million for the quarter, compared to analyst estimates of $450.75 million. As a group, equities analysts predict that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Amy Bohutinsky sold 93,750 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the completion of the sale, the director now owns 5,652 shares in the company, valued at $320,411.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Errol G. Samuelson sold 4,219 shares of Zillow Group stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total value of $209,262.40. Following the completion of the transaction, the insider now owns 168,863 shares in the company, valued at $8,375,604.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy Bohutinsky sold 93,750 shares of Zillow Group stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the completion of the transaction, the director now owns 5,652 shares of the company’s stock, valued at approximately $320,411.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 171,289 shares of company stock worth $9,642,508. Insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Several hedge funds have recently bought and sold shares of ZG. Vanguard Group Inc. boosted its stake in Zillow Group by 27.4% in the fourth quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock worth $456,861,000 after buying an additional 1,730,731 shares in the last quarter. Norges Bank purchased a new position in shares of Zillow Group in the fourth quarter valued at about $102,096,000. Qube Research & Technologies Ltd raised its stake in Zillow Group by 50.5% in the third quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock worth $42,397,000 after buying an additional 317,683 shares in the last quarter. UBS Group AG lifted its stake in shares of Zillow Group by 73.0% in the 4th quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock valued at $23,832,000 after purchasing an additional 177,265 shares during the period. Finally, Raymond James & Associates lifted its position in Zillow Group by 1.7% during the first quarter. Raymond James & Associates now owns 180,407 shares of the technology company’s stock valued at $8,634,000 after buying an additional 2,999 shares during the period. Hedge funds and other 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.