Benchmark Increases Zillow Group (NASDAQ:ZG) Price Target to $65.00

Zillow Group (NASDAQ:ZG) had its price objective upped by Benchmark from $60.00 to $65.00 in a report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other brokerages also recently issued reports on ZG. Canaccord Genuity Group lowered their price objective 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. Citigroup cut their target price on Zillow Group from $68.00 to $58.00 and set a buy rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. cut their target price on Zillow Group from $65.00 to $61.00 and set an overweight rating on the stock in a research note on Thursday, May 2nd. UBS Group lifted their price objective on Zillow Group from $68.00 to $70.00 and gave the company a buy rating in a research report on Thursday. Finally, JMP Securities lowered their target price on shares of Zillow Group from $68.00 to $62.00 and set a market outperform rating for the company in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $59.27.

Zillow Group Stock Performance

Shares of ZG opened at $49.96 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.32 and a current ratio of 3.32. The stock has a 50 day moving average price of $45.91 and a two-hundred day moving average price of $47.07. The firm has a market capitalization of $11.80 billion, a P/E ratio of -72.41 and a beta of 2.05. Zillow Group has a 52 week low of $33.23 and a 52 week high of $59.23.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.08. The company had revenue of $572.00 million during the quarter, compared to analyst estimates of $538.36 million. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. Zillow Group’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. Equities analysts forecast that Zillow Group will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other news, General Counsel Bradley D. Owens sold 1,373 shares of Zillow Group stock in a transaction dated 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 sale, the general counsel now directly owns 40,194 shares in the company, valued at $1,774,565.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Lloyd D. Frink sold 150,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the completion of the transaction, the chairman now owns 582 shares in the company, valued at $29,583.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Bradley D. Owens sold 1,373 shares of the company’s stock in a transaction dated 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 sale, the general counsel now directly owns 40,194 shares of the company’s stock, valued at $1,774,565.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 210,394 shares of company stock valued at $10,279,878. Insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently made changes to their positions in the business. Treasurer of the State of North Carolina increased its holdings in shares of Zillow Group by 0.9% in the 4th quarter. Treasurer of the State of North Carolina now owns 24,511 shares of the technology company’s stock valued at $1,390,000 after purchasing an additional 230 shares during the period. Quadrant Capital Group LLC raised its position in Zillow Group by 45.1% during the fourth quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock valued at $43,000 after acquiring an additional 237 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Zillow Group by 1.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 22,100 shares of the technology company’s stock valued at $1,254,000 after acquiring an additional 250 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Zillow Group by 2.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,542 shares of the technology company’s stock valued at $882,000 after purchasing an additional 360 shares during the period. Finally, Signaturefd LLC raised its position in shares of Zillow Group by 29.7% in the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after purchasing an additional 360 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Company Profile

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.