Royal Bank of Canada Reiterates "Outperform" Rating for Zillow Group (NASDAQ:ZG)

Zillow Group (NASDAQ:ZG - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $88.00 price objective on the technology company's stock. Royal Bank of Canada's price objective suggests a potential upside of 14.45% from the company's previous close.

Other equities analysts have also recently issued research reports about the stock. JMP Securities increased their price objective on shares of Zillow Group from $82.00 to $92.00 and gave the stock a "market outperform" rating in a research note on Monday, December 16th. Evercore ISI increased their target price on Zillow Group from $75.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday. The Goldman Sachs Group raised their price target on Zillow Group from $42.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Benchmark raised their price target on Zillow Group from $80.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Finally, Craig Hallum lifted their target price on Zillow Group from $70.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Zillow Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

Zillow Group Trading Up 2.0 %

Shares of NASDAQ:ZG traded up $1.49 during midday 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. The firm has a 50 day moving average of $75.58 and a 200-day moving average of $66.12. Zillow Group has a 12-month low of $38.06 and a 12-month high of $86.58. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) 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%. As a group, analysts predict that Zillow Group will post -0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jun Choo sold 10,000 shares of Zillow Group stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $75.10, for a total value of $751,000.00. Following the sale, the chief operating officer now owns 88,130 shares in the company, valued at $6,618,563. This trade represents a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Errol G. Samuelson sold 6,967 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.72, for a total transaction of $541,475.24. Following the completion of the transaction, the insider now directly owns 127,467 shares in the company, valued at approximately $9,906,735.24. This represents a 5.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,838 shares of company stock valued at $6,619,079. Insiders own 17.14% of the company's stock.

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Pilgrim Partners Asia Pte Ltd purchased a new position in Zillow Group during the fourth quarter worth about $27,000. Blue Trust Inc. grew its holdings in shares of Zillow Group by 70.2% in the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company's stock valued at $30,000 after purchasing an additional 172 shares in the last quarter. Asset Dedication LLC acquired a new position in shares of Zillow Group in the fourth quarter valued at approximately $47,000. Assetmark Inc. grew its holdings in Zillow Group by 18,875.0% during the 4th quarter. Assetmark Inc. now owns 759 shares of the technology company's stock worth $54,000 after acquiring an additional 755 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Zillow Group by 24.0% during the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company's stock worth $58,000 after acquiring an additional 159 shares in the last quarter. 20.32% of the stock is owned by hedge funds and other institutional investors.

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.