Zillow Group’s (ZG) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Zillow Group (NASDAQ:ZG) in a report issued on Thursday,Benzinga reports. Piper Sandler currently has a $73.00 price target on the technology company’s stock, up from their prior price target of $62.00.

Several other equities research analysts have also weighed in on ZG. 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. Barclays lifted their target price on Zillow Group from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price objective on shares of Zillow Group in a research report on Tuesday, October 22nd. Susquehanna raised their target price on shares of Zillow Group from $42.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $62.00 price target on shares of Zillow Group in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $65.28.

Zillow Group Stock Performance

Shares of NASDAQ:ZG traded up $0.54 during midday trading on Thursday, reaching $70.63. 410,589 shares of the company’s stock traded hands, compared to its average volume of 623,155. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $59.25 and a two-hundred day simple moving average of $50.30. Zillow Group has a 1 year low of $34.33 and a 1 year high of $71.28.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.08. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.34%. The business had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $538.36 million. During the same quarter in the prior year, the company posted ($0.05) EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, research analysts forecast that Zillow Group will post -0.33 EPS for the current year.

Insider Activity at Zillow Group

In related news, insider Dan Spaulding sold 2,991 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total transaction of $159,061.38. Following the completion of the transaction, the insider now owns 70,342 shares of the company’s stock, valued at $3,740,787.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Zillow Group news, insider Dan Spaulding sold 2,991 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total transaction of $159,061.38. Following the sale, the insider now owns 70,342 shares in the company, valued at approximately $3,740,787.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy Bohutinsky sold 20,625 shares of Zillow Group stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the sale, the director now owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,596 shares of company stock worth $3,938,581 over the last quarter. 17.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zillow Group

A number of large investors have recently bought and sold shares of the business. Signaturefd LLC lifted its holdings in shares of Zillow Group by 29.7% during the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after buying an additional 360 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Zillow Group by 9.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,669 shares of the technology company’s stock valued at $210,000 after buying an additional 421 shares during the last quarter. Creative Planning lifted its position in shares of Zillow Group by 7.2% in the 3rd quarter. Creative Planning now owns 6,537 shares of the technology company’s stock worth $405,000 after acquiring an additional 439 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Zillow Group during the third quarter worth $29,000. Finally, Wedmont Private Capital grew its stake in shares of Zillow Group by 4.2% in the 2nd quarter. Wedmont Private Capital now owns 12,483 shares of the technology company’s stock valued at $610,000 after purchasing an additional 504 shares during the period. 20.32% of the stock is currently 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.