JMP Securities Lowers Zillow Group (NASDAQ:ZG) Price Target to $62.00

Zillow Group (NASDAQ:ZG) had its price target lowered by JMP Securities from $68.00 to $62.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a market outperform rating on the technology company’s stock.

Several other equities analysts have also recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Zillow Group from $66.00 to $60.00 and set an outperform rating for the company in a research note on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Zillow Group from $65.00 to $61.00 and set an overweight rating on the stock in a research note on Thursday. Piper Sandler increased their price objective on shares of Zillow Group from $70.00 to $72.00 and gave the stock an overweight rating in a research note on Wednesday, February 14th. Craig Hallum decreased their price objective on Zillow Group from $65.00 to $51.00 and set a buy rating for the company in a report on Thursday. Finally, Susquehanna upped their target price on Zillow Group from $36.00 to $60.00 and gave the stock a neutral rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $57.40.

Zillow Group Trading Up 2.2 %

ZG opened at $40.07 on Thursday. The firm’s fifty day simple moving average is $47.44 and its 200 day simple moving average is $47.65. The stock has a market capitalization of $9.36 billion, a P/E ratio of -58.07 and a beta of 1.87. The company has a current ratio of 3.32, a quick ratio of 3.24 and a debt-to-equity ratio of 0.21. Zillow Group has a 12 month low of $33.23 and a 12 month high of $59.23.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Tuesday, February 13th. The technology company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.06. The company had revenue of $474.00 million during the quarter, compared to analysts’ expectations of $450.75 million. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. As a group, research analysts anticipate that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Bradley D. Owens sold 966 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total value of $56,037.66. Following the transaction, the general counsel now directly owns 17,181 shares of the company’s stock, valued at $996,669.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zillow Group news, Director Amy Bohutinsky sold 93,750 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $56.69, for a total value of $5,314,687.50. Following the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $320,411.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Bradley D. Owens sold 966 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total value of $56,037.66. Following the transaction, the general counsel now owns 17,181 shares in the company, valued at approximately $996,669.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,289 shares of company stock valued at $9,642,508. 17.14% of the stock is owned by insiders.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently modified their holdings of ZG. Treasurer of the State of North Carolina grew its position in shares of Zillow Group by 0.9% during the 4th quarter. Treasurer of the State of North Carolina now owns 24,511 shares of the technology company’s stock worth $1,390,000 after purchasing an additional 230 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Zillow Group by 45.1% in the fourth quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock valued at $43,000 after buying an additional 237 shares during the period. Nisa Investment Advisors LLC grew its position in Zillow Group by 1.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 22,100 shares of the technology company’s stock worth $1,254,000 after buying an additional 250 shares in the last quarter. Ieq Capital LLC increased its stake in Zillow Group by 2.3% during the 3rd quarter. Ieq Capital LLC now owns 12,955 shares of the technology company’s stock worth $580,000 after acquiring an additional 286 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Zillow Group by 2.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,542 shares of the technology company’s stock valued at $882,000 after acquiring an additional 360 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

About Zillow Group

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.