Zillow Group (NASDAQ:ZG) Earns “Outperform” Rating from Royal Bank Of Canada

Zillow Group (NASDAQ:ZG)‘s stock had its “outperform” rating restated by research analysts at Royal Bank Of Canada in a report released on Wednesday,Benzinga reports. They presently have a $95.00 target price on the technology company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 114.85% from the stock’s current price.

Several other brokerages also recently commented on ZG. Canaccord Genuity Group set a $72.00 target price on shares of Zillow Group in a report on Wednesday, February 11th. UBS Group set a $80.00 price target on shares of Zillow Group in a report on Wednesday, February 11th. Benchmark reaffirmed a “buy” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Evercore reiterated an “outperform” rating on shares of Zillow Group in a research note on Tuesday, March 17th. Finally, DA Davidson set a $75.00 target price on shares of Zillow Group in a research report on Thursday, February 12th. Fourteen investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Zillow Group currently has an average rating of “Hold” and a consensus target price of $77.05.

Zillow Group Trading Down 1.9%

Zillow Group stock traded down $0.87 during trading on Wednesday, hitting $44.22. 33,712 shares of the company were exchanged, compared to its average volume of 1,165,541. The company has a market capitalization of $10.61 billion, a P/E ratio of 491.87, a PEG ratio of 2.50 and a beta of 2.05. The business’s 50 day moving average is $51.78 and its 200 day moving average is $64.93. Zillow Group has a 52 week low of $40.69 and a 52 week high of $90.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The company had revenue of $654.00 million for the quarter, compared to the consensus estimate of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. Zillow Group’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $0.27 earnings per share. Equities analysts expect that Zillow Group will post 0.32 EPS for the current year.

Insider Buying and Selling

In related news, CTO David A. Beitel sold 3,966 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $44.22, for a total value of $175,376.52. Following the transaction, the chief technology officer owned 136,690 shares in the company, valued at approximately $6,044,431.80. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeremy Wacksman sold 13,661 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total value of $604,499.25. Following the transaction, the chief executive officer directly owned 116,322 shares of the company’s stock, valued at approximately $5,147,248.50. This trade represents a 10.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 60,801 shares of company stock worth $2,683,986 in the last three months. Insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZG. Norges Bank purchased a new position in shares of Zillow Group in the second quarter worth about $159,770,000. Independent Franchise Partners LLP lifted its stake in shares of Zillow Group by 1.1% during the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after buying an additional 21,862 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Zillow Group by 38,344.0% during the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after buying an additional 1,600,097 shares in the last quarter. Tiger Global Management LLC boosted its holdings in Zillow Group by 30.7% in the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock worth $69,849,000 after buying an additional 240,690 shares during the period. Finally, UBS Group AG grew its stake in Zillow Group by 44.5% in the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after buying an additional 313,643 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.