Evercore ISI Boosts Zillow Group (NASDAQ:ZG) Price Target to $55.00

Zillow Group (NASDAQ:ZG) had its price target lifted by Evercore ISI from $50.00 to $55.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Evercore ISI’s target price points to a potential upside of 19.41% from the stock’s current price.

Several other research analysts also recently weighed in on ZG. Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 target price on shares of Zillow Group in a research note on Monday. Craig Hallum dropped their price objective on shares of Zillow Group from $65.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. UBS Group upped their price objective on shares of Zillow Group from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities dropped their price objective on shares of Zillow Group from $68.00 to $62.00 and set a “market outperform” rating for the company in a research note on Thursday, May 2nd. Finally, Canaccord Genuity Group dropped their price objective on shares of Zillow Group from $58.00 to $50.00 and set a “hold” rating for the company in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.33.

Zillow Group Price Performance

ZG stock traded up $5.71 during trading on Thursday, hitting $46.06. The stock had a trading volume of 335,999 shares, compared to its average volume of 649,214. The company’s 50 day moving average price is $45.53 and its two-hundred day moving average price is $47.18. Zillow Group has a 1-year low of $33.23 and a 1-year high of $59.23. The stock has a market cap of $10.88 billion, a price-to-earnings ratio of -66.75 and a beta of 2.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.32 and a current ratio of 3.32.

Insider Transactions at Zillow Group

In other Zillow Group news, insider Susan Daimler sold 5,786 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $44.22, for a total value of $255,856.92. Following the completion of the transaction, the insider now owns 35,572 shares in the company, valued at approximately $1,572,993.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Zillow Group news, COO Jeremy Wacksman sold 6,498 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $44.27, for a total value of $287,666.46. Following the completion of the transaction, the chief operating officer now owns 126,775 shares in the company, valued at approximately $5,612,329.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Susan Daimler sold 5,786 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $44.22, for a total value of $255,856.92. Following the completion of the transaction, the insider now owns 35,572 shares of the company’s stock, valued at approximately $1,572,993.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,041 shares of company stock worth $2,637,477. 17.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Zillow Group by 27.4% during the 4th quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock valued at $456,861,000 after buying an additional 1,730,731 shares during the last quarter. Norges Bank purchased a new position in shares of Zillow Group during the 4th quarter valued at approximately $102,096,000. UBS Group AG boosted its stake in shares of Zillow Group by 73.0% during the 4th quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock valued at $23,832,000 after buying an additional 177,265 shares during the last quarter. US Bancorp DE boosted its stake in shares of Zillow Group by 42.6% during the 1st quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock valued at $11,775,000 after buying an additional 73,504 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Zillow Group by 7.0% during the 2nd quarter. Raymond James & Associates now owns 193,023 shares of the technology company’s stock valued at $8,694,000 after buying an additional 12,616 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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.