Zillow Group (NASDAQ:ZG) Price Target Raised to $74.00 at Royal Bank of Canada

Zillow Group (NASDAQ:ZG) had its price target boosted by equities research analysts at Royal Bank of Canada from $66.00 to $74.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 5.23% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price target (up from $62.00) on shares of Zillow Group in a report on Thursday. The Goldman Sachs Group increased their price target on Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday. Evercore ISI lifted their price objective on Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday. DA Davidson raised their target price on Zillow Group from $52.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, UBS Group boosted their price target on Zillow Group from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $65.28.

Zillow Group Stock Up 25.4 %

Zillow Group stock traded up $14.24 during mid-day trading on Thursday, hitting $70.32. The company had a trading volume of 1,114,944 shares, compared to its average volume of 622,146. The company has a market capitalization of $16.28 billion, a PE ratio of -114.25 and a beta of 2.02. The stock’s 50 day moving average price is $58.92 and its two-hundred day moving average price is $50.17. Zillow Group has a 12 month low of $34.33 and a 12 month high of $70.47. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The company had revenue of $572.00 million during the quarter, compared to analyst estimates of $538.36 million. During the same period in the previous year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In related news, Chairman Lloyd D. Frink sold 150,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the transaction, the chairman now owns 582 shares of the company’s stock, valued at approximately $29,583.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the sale, the director now directly owns 5,652 shares in the company, valued at approximately $379,983.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Lloyd D. Frink sold 150,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $50.83, for a total value of $7,624,500.00. Following the transaction, the chairman now owns 582 shares of the company’s stock, valued at approximately $29,583.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 217,949 shares of company stock valued at $11,580,982. Insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new stake in Zillow Group during the 3rd quarter valued at $29,000. EntryPoint Capital LLC bought a new stake in Zillow Group during the first quarter valued at about $53,000. GAMMA Investing LLC grew its stake in Zillow Group by 86.7% in the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after purchasing an additional 561 shares during the last quarter. Signaturefd LLC raised its holdings in Zillow Group by 29.7% in the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after purchasing an additional 360 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Zillow Group during the first quarter valued at about $84,000. 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.