Zillow Group (NASDAQ:ZG) Given New $64.00 Price Target at Canaccord Genuity Group

Zillow Group (NASDAQ:ZG - Get Free Report) had its price target upped by investment analysts at Canaccord Genuity Group from $56.00 to $64.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "hold" rating on the technology company's stock. Canaccord Genuity Group's price objective would suggest a potential downside of 8.66% from the company's previous close.

ZG has been the subject of several other reports. Citigroup increased their target price on Zillow Group from $58.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, August 8th. Susquehanna increased their price target on shares of Zillow Group from $42.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, August 12th. Piper Sandler reaffirmed an "overweight" rating and set a $73.00 price objective (up from $62.00) on shares of Zillow Group in a research note on Thursday. Cantor Fitzgerald restated a "neutral" rating and set a $47.00 target price on shares of Zillow Group in a report on Monday, October 7th. Finally, Barclays lifted their price objective on Zillow Group from $35.00 to $36.00 and gave the company an "underweight" rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $65.28.

Zillow Group Price Performance

Shares of NASDAQ:ZG traded up $13.99 during trading on Thursday, reaching $70.07. The company had a trading volume of 1,153,843 shares, compared to its average volume of 622,146. The company has a fifty day moving average of $58.92 and a two-hundred day moving average of $50.17. Zillow Group has a 12 month low of $34.33 and a 12 month high of $70.47. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $16.22 billion, a P/E ratio of -114.25 and a beta of 2.02.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.31 by $0.08. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The firm had revenue of $572.00 million for the quarter, compared to the consensus estimate of $538.36 million. During the same period last year, the firm posted ($0.05) earnings per share. The business's revenue was up 13.0% compared to the same quarter last year. Equities research analysts forecast that Zillow Group will post -0.33 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In related news, Chairman Lloyd D. Frink sold 150,000 shares of Zillow Group stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the sale, the chairman now owns 582 shares of the company's stock, valued at approximately $29,583.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Jennifer Rock sold 3,208 shares of the firm's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $52.84, for a total value of $169,510.72. Following the transaction, the chief accounting officer now owns 76,486 shares of the company's stock, valued at $4,041,520.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Lloyd D. Frink sold 150,000 shares of Zillow Group stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.83, for a total transaction of $7,624,500.00. Following the sale, the chairman now owns 582 shares of the company's stock, valued at $29,583.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 217,949 shares of company stock valued at $11,580,982 over the last 90 days. 17.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Institutional investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new stake in Zillow Group in the third quarter valued at approximately $29,000. EntryPoint Capital LLC purchased a new position in Zillow Group in the 1st quarter worth $53,000. Signaturefd LLC grew its stake in Zillow Group by 29.7% during the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company's stock valued at $71,000 after purchasing an additional 360 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Zillow Group by 86.7% in the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company's stock valued at $75,000 after purchasing an additional 561 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Zillow Group in the first quarter worth about $84,000. 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.

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