Zillow Group’s (ZG) Outperform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of Zillow Group (NASDAQ:ZG) in a report issued on Friday,Benzinga reports. Royal Bank Of Canada currently has a $55.00 price target on the technology company’s stock.

Other equities research analysts also recently issued research reports about the company. Benchmark reaffirmed a “buy” rating on shares of Zillow Group in a research report on Monday, August 24th. Citizens Jmp decreased their price target on Zillow Group from $75.00 to $46.00 and set a “market outperform” rating on the stock in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft set a $80.00 price target on Zillow Group in a report on Monday, August 24th. KeyCorp reaffirmed an “overweight” rating and set a $48.00 price objective on shares of Zillow Group in a research note on Tuesday, August 25th. Finally, BTIG Research reiterated a “neutral” rating on shares of Zillow Group in a report on Thursday, June 11th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $53.14.

Zillow Group Stock Performance

Shares of ZG opened at $33.23 on Friday. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of 151.05, a PEG ratio of 1.45 and a beta of 1.97. The company’s 50 day simple moving average is $34.23 and its 200 day simple moving average is $37.82. Zillow Group has a 1 year low of $29.03 and a 1 year high of $90.22.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. The firm had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.25 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. Zillow Group’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 EPS. Equities analysts expect that Zillow Group will post 0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Jeremy Hofmann sold 5,661 shares of Zillow Group stock in a transaction on Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $193,492.98. Following the transaction, the chief financial officer owned 59,144 shares in the company, valued at approximately $2,021,541.92. This trade represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Errol Samuelson sold 3,154 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $107,992.96. Following the sale, the insider directly owned 130,885 shares of the company’s stock, valued at approximately $4,481,502.40. This trade represents a 2.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 38,539 shares of company stock worth $1,323,800. Corporate insiders own 29.88% of the company’s stock.

Institutional Trading of Zillow Group

A number of institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new position in Zillow Group in the second quarter valued at approximately $29,000. Arax Advisory Partners grew its stake in Zillow Group by 402.3% during the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after buying an additional 354 shares during the period. First Command Advisory Services Inc. acquired a new stake in shares of Zillow Group in the fourth quarter worth $34,000. EverSource Wealth Advisors LLC increased its position in shares of Zillow Group by 183.6% in the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after acquiring an additional 637 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Zillow Group by 990.3% in the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock valued at $42,000 after acquiring an additional 921 shares during the period. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers and real estate professionals. Its flagship Zillow platform provides property listings, home-value estimates, neighborhood information, mortgage resources and tools that help people buy, sell, rent and finance homes.

The company’s portfolio also includes Trulia, StreetEasy, HotPads and Zillow Rentals, which serve home shoppers and renters in markets across the United States.