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Zillow Group (NASDAQ:ZG – Get Free Report) was upgraded by equities researchers at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday, MarketBeat.com reports. The firm currently has a $105.00 target price on the technology company’s stock, up from their prior target price of $75.00. Sanford C. Bernstein’s price target indicates a potential upside of 21.47% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Zillow Group from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Canaccord Genuity Group boosted their price objective on Zillow Group from $76.00 to $84.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. Zelman & Associates upgraded Zillow Group to a “hold” rating in a research note on Friday, August 8th. Barclays reiterated an “underweight” rating and issued a $66.00 price target (up from $60.00) on shares of Zillow Group in a research note on Thursday, August 7th. Finally, KeyCorp reiterated an “overweight” rating and issued a $92.00 price target (up from $90.00) on shares of Zillow Group in a research note on Thursday, August 7th. Fourteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.41.
Get Our Latest Stock Report on Zillow Group
Zillow Group Stock Performance
Zillow Group stock opened at $86.44 on Wednesday. Zillow Group has a 52 week low of $55.08 and a 52 week high of $90.22. The stock has a market capitalization of $20.94 billion, a P/E ratio of -332.46, a PEG ratio of 24.16 and a beta of 2.02. The stock has a 50-day simple moving average of $80.02 and a 200 day simple moving average of $71.67.
Zillow Group (NASDAQ:ZG – Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%.The firm had revenue of $655.00 million for the quarter, compared to the consensus estimate of $647.06 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s revenue was up 14.5% on a year-over-year basis. Research analysts forecast that Zillow Group will post 0.32 earnings per share for the current year.
Insider Buying and Selling at Zillow Group
In other Zillow Group news, CTO David A. Beitel sold 22,510 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $90.97, for a total transaction of $2,047,734.70. Following the completion of the transaction, the chief technology officer directly owned 144,549 shares in the company, valued at $13,149,622.53. The trade was a 13.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeremy Hofmann sold 25,000 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $89.99, for a total transaction of $2,249,750.00. Following the transaction, the chief financial officer owned 84,146 shares of the company’s stock, valued at $7,572,298.54. This trade represents a 22.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 657,087 shares of company stock valued at $56,286,479. 17.14% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of ZG. Norges Bank acquired a new position in shares of Zillow Group during the second quarter worth $159,770,000. Millennium Management LLC increased its holdings in shares of Zillow Group by 110.8% during the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock worth $19,456,000 after buying an additional 152,955 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in Zillow Group in the first quarter valued at $9,998,000. Nuveen LLC acquired a new stake in Zillow Group in the first quarter valued at $8,950,000. Finally, GAMMA Investing LLC increased its holdings in Zillow Group by 9,124.2% in the first quarter. GAMMA Investing LLC now owns 122,220 shares of the technology company’s stock valued at $8,172,000 after purchasing an additional 120,895 shares during the period. 20.32% of the stock is currently owned by institutional investors and hedge funds.
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.
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