Zillow Group (NASDAQ:ZG) Price Target Lowered to $87.00 at Citigroup

Zillow Group (NASDAQ:ZG - Get Free Report) had its price objective cut by equities researchers at Citigroup from $98.00 to $87.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Citigroup's price objective points to a potential upside of 41.49% from the company's previous close.

A number of other equities research analysts have also recently commented on the stock. KeyCorp dropped their price objective on shares of Zillow Group from $95.00 to $85.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 18th. Baird R W upgraded shares of Zillow Group to a "hold" rating in a research note on Friday, January 31st. JMP Securities lifted their price target on Zillow Group from $82.00 to $92.00 and gave the stock a "market outperform" rating in a report on Monday, December 16th. Piper Sandler lowered their price objective on Zillow Group from $93.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, February 12th. Finally, UBS Group lowered their price objective on shares of Zillow Group from $98.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $81.05.

Zillow Group Stock Up 0.1 %

Shares of Zillow Group stock traded up $0.07 during trading on Tuesday, hitting $61.49. 254,715 shares of the stock traded hands, compared to its average volume of 577,897. The stock has a market cap of $14.91 billion, a price-to-earnings ratio of -130.83, a PEG ratio of 8.90 and a beta of 2.22. The firm's fifty day moving average is $69.22 and its 200-day moving average is $70.64. Zillow Group has a 52 week low of $38.06 and a 52 week high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings results 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 return on equity of 2.12% and a negative net margin of 5.01%. On average, analysts forecast that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In other Zillow Group news, COO Jun Choo sold 55,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the sale, the chief operating officer now directly owns 86,853 shares of the company's stock, valued at $6,790,167.54. This trade represents a 38.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 1,612 shares of the company's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total transaction of $136,987.76. Following the sale, the chief financial officer now directly owns 99,362 shares in the company, valued at approximately $8,443,782.76. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,919 shares of company stock worth $7,869,478. 17.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Pilgrim Partners Asia Pte Ltd acquired a new stake in Zillow Group in the 4th quarter valued at $27,000. Blue Trust Inc. increased its position in shares of Zillow Group by 70.2% during the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company's stock worth $30,000 after acquiring an additional 172 shares during the period. Salem Investment Counselors Inc. purchased a new position in Zillow Group in the first quarter worth approximately $42,000. CX Institutional acquired a new stake in shares of Zillow Group during the 1st quarter worth about $46,000. Finally, Asset Dedication LLC purchased a new position in shares of Zillow Group during the fourth quarter worth approximately $47,000. 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.