Zillow Group (NASDAQ:ZG) Price Target Increased to $62.00 by Analysts at Citigroup

Zillow Group (NASDAQ:ZG) had its price target boosted by Citigroup from $58.00 to $62.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities analysts have also issued reports about the stock. JMP Securities decreased their price objective on shares of Zillow Group from $68.00 to $62.00 and set a market outperform rating on the stock in a report on Thursday, May 2nd. Barclays raised their price target on Zillow Group from $35.00 to $36.00 and gave the stock an underweight rating in a research report on Thursday. Canaccord Genuity Group cut their price objective on Zillow Group from $58.00 to $50.00 and set a hold rating on the stock in a report on Monday, April 29th. DA Davidson reissued a buy rating and set a $52.00 target price on shares of Zillow Group in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. dropped their target price on Zillow Group from $65.00 to $61.00 and set an overweight rating for the company in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Zillow Group has an average rating of Moderate Buy and an average price target of $59.27.

Zillow Group Trading Up 4.7 %

Shares of NASDAQ:ZG traded up $2.26 during midday trading on Thursday, reaching $49.96. 1,196,135 shares of the company’s stock were exchanged, compared to its average volume of 664,298. The firm’s 50 day simple moving average is $45.71 and its two-hundred day simple moving average is $47.18. Zillow Group has a fifty-two week low of $33.23 and a fifty-two week high of $59.23. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.32 and a quick ratio of 3.32. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of -72.28 and a beta of 2.05.

Insider Activity

In related news, General Counsel Bradley D. Owens sold 1,373 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $44.15, for a total value of $60,617.95. Following the transaction, the general counsel now owns 40,194 shares of the company’s stock, valued at $1,774,565.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jay C. Hoag acquired 1,000,000 shares of Zillow Group stock in a transaction dated Friday, June 7th. The stock was acquired at an average price of $42.27 per share, for a total transaction of $42,270,000.00. Following the transaction, the director now owns 652,520 shares of the company’s stock, valued at $27,582,020.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Bradley D. Owens sold 1,373 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $44.15, for a total transaction of $60,617.95. Following the completion of the transaction, the general counsel now directly owns 40,194 shares in the company, valued at $1,774,565.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,041 shares of company stock worth $2,637,477. 17.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Several large investors have recently bought and sold shares of ZG. Dimensional Fund Advisors LP lifted its stake in Zillow Group by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock valued at $19,901,000 after buying an additional 35,503 shares during the last quarter. NINE MASTS CAPITAL Ltd purchased a new stake in Zillow Group in the 2nd quarter valued at $2,584,000. Headlands Technologies LLC acquired a new stake in Zillow Group during the 2nd quarter worth $320,000. EFG Asset Management Americas Corp. grew its position in Zillow Group by 56.5% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 36,442 shares of the technology company’s stock worth $1,641,000 after purchasing an additional 13,149 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in Zillow Group by 7,309.7% in the second quarter. National Bank of Canada FI now owns 26,675 shares of the technology company’s stock valued at $1,178,000 after purchasing an additional 26,315 shares during the period. Institutional investors and hedge funds 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.