UBS Group Cuts Zillow Group (NASDAQ:ZG) Price Target to $85.00

Zillow Group (NASDAQ:ZG - Free Report) had its target price cut by UBS Group from $98.00 to $85.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the technology company's stock.

Other equities analysts have also recently issued reports about the stock. Evercore ISI lifted their target price on shares of Zillow Group from $75.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Baird R W upgraded Zillow Group to a "hold" rating in a research note on Friday, January 31st. Stephens reiterated an "overweight" rating and set a $73.00 target price on shares of Zillow Group in a report on Wednesday, February 12th. Robert W. Baird assumed coverage on Zillow Group in a report on Friday, January 31st. They issued a "neutral" rating and a $88.00 price target for the company. Finally, Piper Sandler decreased their price objective on Zillow Group from $93.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Zillow Group has a consensus rating of "Moderate Buy" and an average target price of $81.05.

Zillow Group Stock Performance

NASDAQ ZG traded down $2.25 during trading on Friday, reaching $60.81. 104,489 shares of the company's stock were exchanged, compared to its average volume of 577,430. Zillow Group has a 1 year low of $38.06 and a 1 year high of $86.58. The stock has a market cap of $14.75 billion, a P/E ratio of -129.38, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22. The company has a 50 day moving average price of $70.60 and a two-hundred day moving average price of $70.72.

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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 analysts' consensus estimates 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%. Research analysts forecast that Zillow Group will post 0.32 EPS for the current fiscal year.

Insider Activity

In related news, COO Jun Choo sold 1,277 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total value of $99,248.44. Following the completion of the transaction, the chief operating officer now owns 86,853 shares in the company, valued at $6,750,215.16. This trade represents a 1.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jeremy Hofmann sold 23,388 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the sale, the chief financial officer now directly owns 99,362 shares of the company's stock, valued at $8,443,782.76. This represents a 19.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,919 shares of company stock worth $7,869,478 over the last ninety days. Corporate insiders own 17.14% of the company's stock.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP acquired a new position in Zillow Group in the 3rd quarter worth about $325,000. State Street Corp lifted its stake in Zillow Group by 0.4% in the third quarter. State Street Corp now owns 805,279 shares of the technology company's stock valued at $49,871,000 after acquiring an additional 2,832 shares during the last quarter. M&T Bank Corp bought a new stake in Zillow Group in the third quarter worth $258,000. Geode Capital Management LLC increased its holdings in shares of Zillow Group by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company's stock valued at $63,523,000 after acquiring an additional 32,766 shares during the last quarter. Finally, Virtu Financial LLC raised its stake in shares of Zillow Group by 132.1% in the 3rd quarter. Virtu Financial LLC now owns 208,773 shares of the technology company's stock valued at $12,929,000 after buying an additional 118,830 shares in the last quarter. Institutional investors and hedge funds own 20.32% of the company's stock.

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.