Zillow Group (NASDAQ:ZG) Given New $84.00 Price Target at Bank of America

Zillow Group (NASDAQ:ZG - Get Free Report) had its price objective upped by analysts at Bank of America from $81.00 to $84.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the technology company's stock. Bank of America's price objective would indicate a potential upside of 9.25% from the stock's current price.

A number of other research firms have also recently issued reports on ZG. The Goldman Sachs Group increased their price objective on shares of Zillow Group from $42.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Canaccord Genuity Group increased their price target on Zillow Group from $64.00 to $86.00 and gave the stock a "hold" rating in a report on Monday, December 2nd. DA Davidson boosted their price objective on Zillow Group from $75.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday. Stephens reiterated an "overweight" rating and issued a $73.00 target price on shares of Zillow Group in a report on Wednesday. Finally, Susquehanna boosted their price target on shares of Zillow Group from $55.00 to $75.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $83.00.

Zillow Group Stock Up 2.0 %

ZG stock traded up $1.49 during mid-day trading on Wednesday, reaching $76.89. The company's stock had a trading volume of 721,245 shares, compared to its average volume of 355,962. Zillow Group has a 12 month low of $38.06 and a 12 month high of $86.58. The business's 50 day moving average price is $75.58 and its 200 day moving average price is $66.12. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate 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%. Research analysts expect that Zillow Group will post -0.42 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In related news, insider Dan Spaulding sold 4,565 shares of the company's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $86.22, for a total value of $393,594.30. Following the transaction, the insider now owns 58,217 shares in the company, valued at approximately $5,019,469.74. This represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer Rock sold 5,796 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $75.50, for a total value of $437,598.00. Following the completion of the sale, the chief accounting officer now directly owns 51,370 shares of the company's stock, valued at $3,878,435. This represents a 10.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,838 shares of company stock valued at $6,619,079. 17.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Zillow Group

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Zillow Group in the fourth quarter valued at approximately $165,326,000. Geode Capital Management LLC lifted its position in shares of Zillow Group by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company's stock worth $63,523,000 after acquiring an additional 32,766 shares in the last quarter. State Street Corp boosted its holdings in shares of Zillow Group by 0.4% in the third quarter. State Street Corp now owns 805,279 shares of the technology company's stock worth $49,871,000 after acquiring an additional 2,832 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Zillow Group by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 445,664 shares of the technology company's stock valued at $31,578,000 after purchasing an additional 27,345 shares in the last quarter. Finally, Virtu Financial LLC raised its stake in shares of Zillow Group by 101.3% during the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company's stock valued at $29,775,000 after purchasing an additional 211,482 shares during the period. 20.32% of the stock is owned by hedge funds and other 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.