Piper Sandler Issues Pessimistic Forecast for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its target price decreased by stock analysts at Piper Sandler from $93.00 to $90.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s target price would indicate a potential upside of 24.99% from the stock’s current price.

ZG has been the topic of several other reports. Royal Bank of Canada boosted their price target on Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JMP Securities upped their target price on shares of Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a research note on Monday, December 16th. DA Davidson lifted their price target on shares of Zillow Group from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Baird R W upgraded shares of Zillow Group to a “hold” rating in a report on Friday, January 31st. Finally, Susquehanna raised their target price on Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Zillow Group has an average rating of “Moderate Buy” and an average target price of $79.84.

Zillow Group Trading Down 14.1 %

Shares of ZG stock opened at $72.00 on Wednesday. Zillow Group has a 1-year low of $38.06 and a 1-year high of $86.58. The firm’s 50-day simple moving average is $75.77 and its 200-day simple moving average is $65.66. The firm has a market cap of $16.82 billion, a P/E ratio of -124.80, a PEG ratio of 15.65 and a beta of 2.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. As a group, equities analysts forecast that Zillow Group will post -0.42 EPS for the current year.

Insider Activity

In other Zillow Group news, insider Errol G. Samuelson sold 17,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $73.57, for a total value of $1,250,690.00. Following the completion of the sale, the insider now directly owns 22,739 shares of the company’s stock, valued at approximately $1,672,908.23. This represents a 42.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Bradley D. Owens sold 1,846 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $73.03, for a total transaction of $134,813.38. Following the completion of the sale, the general counsel now owns 29,893 shares in the company, valued at $2,183,085.79. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 142,730 shares of company stock worth $10,896,034 over the last three months. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in Zillow Group by 70.2% in the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after acquiring an additional 172 shares in the last quarter. Asset Dedication LLC acquired a new position in shares of Zillow Group in the 4th quarter valued at about $47,000. Assetmark Inc. lifted its position in shares of Zillow Group by 18,875.0% in the fourth quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock worth $54,000 after purchasing an additional 755 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Zillow Group by 24.0% in the fourth quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after purchasing an additional 159 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Zillow Group during the fourth quarter worth approximately $63,000. Institutional investors and hedge funds 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.