Zillow Group (NASDAQ:ZG) Given New $62.00 Price Target at JMP Securities

Zillow Group (NASDAQ:ZG) had its price target reduced by JMP Securities from $68.00 to $62.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a market outperform rating on the technology company’s stock.

ZG has been the subject of a number of other research reports. Susquehanna upped their price objective on shares of Zillow Group from $36.00 to $60.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Benchmark reaffirmed a buy rating and set a $60.00 price target on shares of Zillow Group in a research note on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of Zillow Group from $65.00 to $61.00 and set an overweight rating for the company in a research note on Thursday. Canaccord Genuity Group cut their target price on Zillow Group from $58.00 to $50.00 and set a hold rating on the stock in a research report on Monday. Finally, Barclays boosted their price target on Zillow Group from $32.00 to $40.00 and gave the company an underweight rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $57.25.

Zillow Group Price Performance

ZG stock traded up $0.88 on Thursday, reaching $40.07. The company had a trading volume of 900,504 shares, compared to its average volume of 698,495. The company’s fifty day moving average is $47.67 and its 200 day moving average is $47.55. The company has a market cap of $9.36 billion, a P/E ratio of -58.07 and a beta of 1.87. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.24 and a current ratio of 3.24. Zillow Group has a 1 year low of $33.23 and a 1 year high of $59.23.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.06. The firm had revenue of $474.00 million during the quarter, compared to the consensus estimate of $450.75 million. Zillow Group had a negative net margin of 7.93% and a negative return on equity of 2.30%. On average, research analysts forecast that Zillow Group will post -0.18 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Amy Bohutinsky sold 93,750 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the sale, the director now directly owns 5,652 shares in the company, valued at approximately $320,411.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Amy Bohutinsky sold 93,750 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $56.69, for a total value of $5,314,687.50. Following the sale, the director now owns 5,652 shares of the company’s stock, valued at approximately $320,411.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jennifer Rock sold 7,352 shares of Zillow Group stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $57.29, for a total transaction of $421,196.08. Following the completion of the sale, the chief accounting officer now owns 56,384 shares in the company, valued at $3,230,239.36. The disclosure for this sale can be found here. Insiders have sold a total of 171,289 shares of company stock worth $9,642,508 over the last quarter. 17.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GAMMA Investing LLC acquired a new position in shares of Zillow Group during the fourth quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV bought a new position in Zillow Group during the 4th quarter valued at $31,000. Fidelis Capital Partners LLC acquired a new position in shares of Zillow Group during the 1st quarter valued at $32,000. Quadrant Capital Group LLC raised its stake in shares of Zillow Group by 45.1% in the 4th quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock worth $43,000 after buying an additional 237 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Zillow Group by 100.0% in the third quarter. CWM LLC now owns 1,222 shares of the technology company’s stock valued at $55,000 after buying an additional 611 shares during the period. 20.32% of the stock is 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.