Zillow Group (NASDAQ:ZG) Price Target Cut to $76.00 by Analysts at Canaccord Genuity Group

Zillow Group (NASDAQ:ZG - Get Free Report) had its price objective lowered by investment analysts at Canaccord Genuity Group from $86.00 to $76.00 in a report issued on Monday,Benzinga reports. The firm presently has a "hold" rating on the technology company's stock. Canaccord Genuity Group's price target suggests a potential upside of 12.68% from the company's current price.

ZG has been the subject of a number of other research reports. Citigroup cut their price target on shares of Zillow Group from $98.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. KeyCorp reduced their price target on shares of Zillow Group from $95.00 to $85.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company initiated coverage on Zillow Group in a research note on Monday, April 28th. They set a "mixed" rating and a $62.00 price objective on the stock. Cantor Fitzgerald boosted their target price on Zillow Group from $62.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Finally, Susquehanna increased their target price on Zillow Group from $75.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $79.85.

Zillow Group Trading Up 1.5 %

NASDAQ ZG traded up $1.01 during trading on Monday, reaching $67.45. 253,485 shares of the company's stock were exchanged, compared to its average volume of 558,337. The firm has a market capitalization of $16.36 billion, a PE ratio of -143.51, a P/E/G ratio of 8.90 and a beta of 2.22. Zillow Group has a fifty-two week low of $38.40 and a fifty-two week high of $86.58. The company's fifty day simple moving average is $66.57 and its 200-day simple moving average is $71.03.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). The firm had revenue of $598.00 million for the quarter, compared to the consensus estimate of $587.88 million. Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. The firm's revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. Equities analysts forecast that Zillow Group will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO David A. Beitel sold 2,025 shares of Zillow Group stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.75, for a total transaction of $157,443.75. Following the completion of the sale, the chief technology officer now directly owns 151,046 shares of the company's stock, valued at approximately $11,743,826.50. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Errol G. Samuelson sold 6,967 shares of Zillow Group stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total value of $541,475.24. Following the transaction, the insider now directly owns 127,467 shares in the company, valued at approximately $9,906,735.24. This trade represents a 5.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,919 shares of company stock worth $5,744,978. 17.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in shares of Zillow Group in the 1st quarter valued at about $1,105,000. Federated Hermes Inc. boosted its position in shares of Zillow Group by 10.9% in the first quarter. Federated Hermes Inc. now owns 44,359 shares of the technology company's stock worth $2,966,000 after buying an additional 4,373 shares during the period. Baillie Gifford & Co. raised its holdings in shares of Zillow Group by 0.3% during the 1st quarter. Baillie Gifford & Co. now owns 92,289 shares of the technology company's stock valued at $6,170,000 after buying an additional 264 shares during the period. Cetera Investment Advisers boosted its holdings in Zillow Group by 15.1% in the 1st quarter. Cetera Investment Advisers now owns 3,709 shares of the technology company's stock worth $248,000 after acquiring an additional 487 shares during the period. Finally, Kestra Private Wealth Services LLC acquired a new stake in Zillow Group in the first quarter valued at approximately $354,000. 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.