JPMorgan Chase & Co. Cuts Zillow Group (NASDAQ:ZG) Price Target to $61.00

Zillow Group (NASDAQ:ZG) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $65.00 to $61.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 56.29% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Royal Bank of Canada dropped their price objective on shares of Zillow Group from $66.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday. Bank of America cut shares of Zillow Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 10th. Benchmark reiterated a “buy” rating and issued a $60.00 price objective on shares of Zillow Group in a research note on Tuesday. Craig Hallum dropped their target price on Zillow Group from $65.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Susquehanna lifted their price target on Zillow Group from $36.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Zillow Group Stock Performance

Zillow Group stock traded down $2.41 during trading on Thursday, hitting $39.03. The stock had a trading volume of 1,005,327 shares, compared to its average volume of 689,564. The stock’s 50 day moving average is $47.91 and its two-hundred day moving average is $47.61. Zillow Group has a 1 year low of $33.23 and a 1 year high of $59.23. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of -57.38 and a beta of 1.87. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.06. The firm had revenue of $474.00 million for the quarter, compared to analysts’ expectations of $450.75 million. Zillow Group had a negative return on equity of 2.32% and a negative net margin of 8.12%. As a group, analysts predict that Zillow Group will post -0.18 EPS for the current year.

Insider Activity at Zillow Group

In other news, insider Dan Spaulding sold 3,086 shares of Zillow Group stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $58.00, for a total transaction of $178,988.00. Following the completion of the sale, the insider now directly owns 48,294 shares of the company’s stock, valued at approximately $2,801,052. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Susan Daimler sold 15,206 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $56.36, for a total transaction of $857,010.16. Following the transaction, the insider now directly owns 36,148 shares of the company’s stock, valued at approximately $2,037,301.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dan Spaulding sold 3,086 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $58.00, for a total value of $178,988.00. Following the completion of the sale, the insider now directly owns 48,294 shares of the company’s stock, valued at approximately $2,801,052. The disclosure for this sale can be found here. Insiders have sold 171,289 shares of company stock valued at $9,642,508 over the last three months. 17.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new stake in shares of Zillow Group during the fourth quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV bought a new position in shares of Zillow Group during the fourth quarter valued at approximately $31,000. Fidelis Capital Partners LLC purchased a new stake in Zillow Group in the first quarter worth $32,000. Quadrant Capital Group LLC boosted its holdings in Zillow Group by 45.1% in 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. Finally, CWM LLC increased its position in Zillow Group by 100.0% during the 3rd quarter. CWM LLC now owns 1,222 shares of the technology company’s stock valued at $55,000 after purchasing an additional 611 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 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.