Zillow Group’s (ZG) Buy Rating Reaffirmed at DA Davidson

Zillow Group (NASDAQ:ZG)‘s stock had its “buy” rating reaffirmed by analysts at DA Davidson in a report released on Tuesday, Benzinga reports. They presently have a $52.00 price objective on the technology company’s stock. DA Davidson’s price target would suggest a potential upside of 12.07% from the company’s previous close.

ZG has been the subject of several other reports. Barclays dropped their target price on Zillow Group from $40.00 to $35.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Royal Bank of Canada dropped their target price on Zillow Group from $66.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their target price on Zillow Group from $65.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Benchmark reiterated a “buy” rating and issued a $60.00 target price on shares of Zillow Group in a research report on Tuesday, April 30th. Finally, Canaccord Genuity Group dropped their target price on Zillow Group from $58.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Zillow Group currently has a consensus rating of “Moderate Buy” and an average price target of $56.67.

Zillow Group Price Performance

NASDAQ ZG traded up $0.86 during midday trading on Tuesday, hitting $46.40. The company had a trading volume of 99,457 shares, compared to its average volume of 648,897. The company has a market capitalization of $10.96 billion, a PE ratio of -67.25 and a beta of 2.02. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $42.23 and a 200-day moving average price of $48.63. Zillow Group has a twelve month low of $33.23 and a twelve month high of $59.23.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. The company had revenue of $529.00 million during the quarter, compared to analysts’ expectations of $509.30 million. As a group, analysts anticipate that Zillow Group will post -0.4 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Errol G. Samuelson sold 4,219 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total value of $209,262.40. Following the transaction, the insider now owns 168,863 shares in the company, valued at $8,375,604.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zillow Group news, Director Jay C. Hoag bought 1,000,000 shares of Zillow Group stock in a transaction that occurred on Friday, June 7th. The stock was acquired at an average cost of $42.27 per share, for a total transaction of $42,270,000.00. Following the completion of the transaction, the director now directly owns 652,520 shares in the company, valued at $27,582,020.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Errol G. Samuelson sold 4,219 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total value of $209,262.40. Following the transaction, the insider now owns 168,863 shares of the company’s stock, valued at $8,375,604.80. The disclosure for this sale can be found here. Insiders have sold 64,260 shares of company stock worth $2,846,739 over the last 90 days. 17.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Several hedge funds have recently added to or reduced their stakes in ZG. Pathstone Family Office LLC bought a new stake in Zillow Group during the third quarter worth about $217,000. Rafferty Asset Management LLC lifted its stake in shares of Zillow Group by 5.7% in the 3rd quarter. Rafferty Asset Management LLC now owns 7,647 shares of the technology company’s stock valued at $343,000 after acquiring an additional 414 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Zillow Group in the 3rd quarter valued at about $612,000. Invesco Ltd. lifted its stake in shares of Zillow Group by 322.7% in the 3rd quarter. Invesco Ltd. now owns 149,822 shares of the technology company’s stock valued at $6,711,000 after acquiring an additional 114,377 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Zillow Group in the 3rd quarter valued at about $369,000. 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.