Zillow Group (NASDAQ:ZG) Price Target Raised to $50.00

Zillow Group (NASDAQ:ZG - Free Report) had its price target hoisted by Barclays from $36.00 to $50.00 in a research note published on Friday,Benzinga reports. Barclays currently has an underweight rating on the technology company's stock.

Several other brokerages have also recently issued reports on ZG. Wedbush raised Zillow Group from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Canaccord Genuity Group lifted their price objective on Zillow Group from $56.00 to $64.00 and gave the stock a "hold" rating in a research note on Thursday. Piper Sandler reaffirmed an "overweight" rating and set a $73.00 price target (up previously from $62.00) on shares of Zillow Group in a research note on Thursday. Benchmark increased their price objective on shares of Zillow Group from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Finally, Evercore ISI boosted their target price on shares of Zillow Group from $55.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $66.06.

Zillow Group Stock Performance

NASDAQ:ZG traded up $1.17 during trading hours on Friday, reaching $71.26. The company had a trading volume of 988,353 shares, compared to its average volume of 625,942. The firm's 50 day moving average price is $59.60 and its 200-day moving average price is $50.51. The firm has a market cap of $16.49 billion, a price-to-earnings ratio of -125.02 and a beta of 2.02. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. Zillow Group has a 52 week low of $34.33 and a 52 week high of $72.03.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.31 by $0.08. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.34%. The firm had revenue of $572.00 million during the quarter, compared to analyst estimates of $538.36 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The business's revenue for the quarter was up 13.0% compared to the same quarter last year. On average, analysts forecast that Zillow Group will post -0.33 EPS for the current year.

Insider Activity at Zillow Group

In other news, Director Amy Bohutinsky sold 20,625 shares of the firm's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the transaction, the director now owns 5,652 shares of the company's stock, valued at approximately $379,983.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Zillow Group news, General Counsel Bradley D. Owens sold 752 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total value of $39,953.76. Following the sale, the general counsel now directly owns 35,259 shares in the company, valued at $1,873,310.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy Bohutinsky sold 20,625 shares of the company's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the transaction, the director now directly owns 5,652 shares of the company's stock, valued at $379,983.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,596 shares of company stock worth $3,938,581. 17.14% of the stock is currently owned by company insiders.

Institutional Trading of Zillow Group

Several hedge funds and other institutional investors have recently made changes to their positions in ZG. Dimensional Fund Advisors LP lifted its stake in Zillow Group by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company's stock valued at $19,901,000 after buying an additional 35,503 shares in the last quarter. Selkirk Management LLC lifted its position in shares of Zillow Group by 37.4% in the second quarter. Selkirk Management LLC now owns 320,800 shares of the technology company's stock valued at $14,449,000 after acquiring an additional 87,300 shares in the last quarter. US Bancorp DE increased its position in Zillow Group by 6.5% during the 3rd quarter. US Bancorp DE now owns 297,819 shares of the technology company's stock worth $18,444,000 after purchasing an additional 18,136 shares in the last quarter. Raymond James & Associates raised its stake in Zillow Group by 7.0% in the 2nd quarter. Raymond James & Associates now owns 193,023 shares of the technology company's stock valued at $8,694,000 after purchasing an additional 12,616 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Zillow Group by 4.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 162,647 shares of the technology company's stock valued at $7,326,000 after purchasing an additional 7,311 shares in the last quarter. Hedge funds and other institutional investors own 20.32% of the company's stock.

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.