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

Royal Bank of Canada reaffirmed their outperform rating on shares of Zillow Group (NASDAQ:ZG) in a report released on Wednesday,Benzinga reports. The firm currently has a $88.00 target price on the technology company’s stock.

Several other brokerages also recently commented on ZG. Evercore ISI increased their price target on Zillow Group from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. Barclays increased their price target on Zillow Group from $36.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Craig Hallum increased their price target on Zillow Group from $70.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Canaccord Genuity Group increased their price target on Zillow Group from $64.00 to $86.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Finally, Piper Sandler lowered their price target on Zillow Group from $93.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

Zillow Group Trading Up 2.0 %

NASDAQ:ZG opened at $76.89 on Wednesday. The stock’s 50 day moving average price is $75.58 and its 200 day moving average price is $65.99. Zillow Group has a 52 week low of $38.06 and a 52 week high of $86.58. The company has a market capitalization of $17.96 billion, a P/E ratio of -134.89, a P/E/G ratio of 15.65 and a beta of 2.09. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. On average, research analysts forecast that Zillow Group will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Zillow Group news, insider Errol G. Samuelson sold 17,000 shares of Zillow Group stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $73.57, for a total transaction of $1,250,690.00. Following the completion of the transaction, the insider now directly owns 22,739 shares of the company’s stock, valued at approximately $1,672,908.23. This trade represents a 42.78 % 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 this link. Also, COO Jun Choo sold 10,000 shares of Zillow Group stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $75.10, for a total value of $751,000.00. Following the transaction, the chief operating officer now directly owns 88,130 shares of the company’s stock, valued at approximately $6,618,563. The trade was a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,838 shares of company stock valued at $6,619,079 over the last ninety days. 17.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Zillow Group in the fourth quarter valued at $165,326,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Zillow Group by 1,261.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company’s stock valued at $18,454,000 after buying an additional 241,331 shares in the last quarter. Virtu Financial LLC increased its stake in shares of Zillow Group by 101.3% in the fourth quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock valued at $29,775,000 after buying an additional 211,482 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Zillow Group in the fourth quarter valued at $14,916,000. Finally, Cynosure Group LLC acquired a new stake in shares of Zillow Group in the third quarter valued at $12,248,000. 20.32% of the stock is owned by institutional investors.

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.