Zillow Group (NASDAQ:ZG) Now Covered by Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald initiated coverage on shares of Zillow Group (NASDAQ:ZG) in a research note issued on Thursday, Briefing.com reports. The brokerage set a “neutral” rating and a $47.00 price target on the technology company’s stock. Cantor Fitzgerald’s target price would indicate a potential downside of 9.74% from the stock’s current price.

Several other research analysts have also recently weighed in on ZG. Royal Bank of Canada raised their target price on Zillow Group from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. DA Davidson restated a “buy” rating and set a $52.00 price objective on shares of Zillow Group in a research report on Tuesday, June 18th. Benchmark boosted their target price on shares of Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Barclays increased their target price on shares of Zillow Group from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Finally, Craig Hallum lifted their price target on shares of Zillow Group from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Zillow Group presently has an average rating of “Moderate Buy” and an average price target of $58.56.

Zillow Group Price Performance

Shares of NASDAQ ZG opened at $52.07 on Thursday. The stock has a market cap of $12.30 billion, a P/E ratio of -75.46 and a beta of 2.00. The firm’s 50-day simple moving average is $48.89 and its 200 day simple moving average is $46.88. Zillow Group has a fifty-two week low of $33.23 and a fifty-two week high of $59.23. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. The company had revenue of $572.00 million for the quarter, compared to the consensus estimate of $538.36 million. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. Zillow Group’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) EPS. Equities analysts expect that Zillow Group will post -0.33 EPS for the current year.

Insider Activity at Zillow Group

In other news, Director Erik C. Blachford sold 1,413 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $54.87, for a total value of $77,531.31. Following the transaction, the director now owns 35,403 shares in the company, valued at approximately $1,942,562.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Erik C. Blachford sold 1,413 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $54.87, for a total transaction of $77,531.31. Following the transaction, the director now directly owns 35,403 shares in the company, valued at approximately $1,942,562.61. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Jennifer Rock sold 4,050 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total transaction of $199,381.50. Following the completion of the transaction, the chief accounting officer now directly owns 79,694 shares in the company, valued at $3,923,335.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 200,971 shares of company stock valued at $10,314,285. Company insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Zillow Group by 27.4% in the 4th quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock valued at $456,861,000 after purchasing an additional 1,730,731 shares during the last quarter. Norges Bank bought a new position in Zillow Group during the fourth quarter valued at about $102,096,000. Dimensional Fund Advisors LP lifted its position in shares of Zillow Group by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock worth $19,901,000 after buying an additional 35,503 shares during the last quarter. UBS Group AG boosted its stake in shares of Zillow Group by 73.0% during the 4th quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock worth $23,832,000 after acquiring an additional 177,265 shares in the last quarter. Finally, Selkirk Management LLC increased its holdings in shares of Zillow Group by 37.4% during the 2nd quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock valued at $14,449,000 after acquiring an additional 87,300 shares during the last quarter. 20.32% of the stock is owned by institutional investors.

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.