Zillow Group’s (ZG) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Zillow Group (NASDAQ:ZG) in a report issued on Monday, Benzinga reports. The brokerage currently has a $60.00 target price on the technology company’s stock.

Other analysts have also recently issued research reports about the company. JMP Securities cut their price objective on Zillow Group from $68.00 to $62.00 and set a market outperform rating on the stock in a research note on Thursday, May 2nd. Canaccord Genuity Group dropped their price target on Zillow Group from $58.00 to $50.00 and set a hold rating on the stock in a research report on Monday, April 29th. Barclays dropped their price target on Zillow Group from $40.00 to $35.00 and set an underweight rating on the stock in a research report on Thursday, May 2nd. Citigroup dropped their price target on Zillow Group from $68.00 to $58.00 and set a buy rating on the stock in a research report on Thursday, May 2nd. Finally, Benchmark reiterated a buy rating and set a $60.00 price target on shares of Zillow Group in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $59.27.

Zillow Group Trading Up 18.2 %

Shares of NASDAQ ZG opened at $47.70 on Monday. The stock’s 50 day moving average price is $45.71 and its two-hundred day moving average price is $47.18. Zillow Group has a 52-week low of $33.23 and a 52-week high of $59.23. The stock has a market capitalization of $11.27 billion, a P/E ratio of -69.13 and a beta of 2.05. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.21.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Susan Daimler sold 5,786 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $44.22, for a total transaction of $255,856.92. Following the completion of the transaction, the insider now directly owns 35,572 shares of the company’s stock, valued at approximately $1,572,993.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Jay C. Hoag acquired 816,866 shares of Zillow Group stock in a transaction dated Monday, June 10th. The stock was acquired at an average cost of $43.14 per share, with a total value of $35,239,599.24. Following the purchase, the director now directly owns 1,185,540 shares in the company, valued at approximately $51,144,195.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Susan Daimler sold 5,786 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $44.22, for a total value of $255,856.92. Following the sale, the insider now directly owns 35,572 shares of the company’s stock, valued at $1,572,993.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,041 shares of company stock valued at $2,637,477. 17.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Several large investors have recently modified their holdings of ZG. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Zillow Group in the second quarter valued at $2,584,000. Headlands Technologies LLC purchased a new stake in shares of Zillow Group during the second quarter worth $320,000. EFG Asset Management Americas Corp. raised its holdings in shares of Zillow Group by 56.5% during the second quarter. EFG Asset Management Americas Corp. now owns 36,442 shares of the technology company’s stock worth $1,641,000 after acquiring an additional 13,149 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Zillow Group by 7,309.7% during the second quarter. National Bank of Canada FI now owns 26,675 shares of the technology company’s stock worth $1,178,000 after acquiring an additional 26,315 shares in the last quarter. Finally, Maryland State Retirement & Pension System purchased a new stake in shares of Zillow Group during the second quarter worth $202,000. 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.