Zillow Group (NASDAQ:ZG) Price Target Cut to $87.00 by Analysts at Citigroup

Zillow Group (NASDAQ:ZG - Get Free Report) had its target price dropped by research analysts at Citigroup from $98.00 to $87.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Citigroup's price objective points to a potential upside of 41.49% from the company's previous close.

ZG has been the subject of a number of other research reports. Piper Sandler dropped their price objective on Zillow Group from $93.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, February 12th. JMP Securities boosted their price objective on shares of Zillow Group from $82.00 to $92.00 and gave the company a "market outperform" rating in a research report on Monday, December 16th. Bank of America upped their target price on shares of Zillow Group from $81.00 to $84.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. KeyCorp lowered their price target on Zillow Group from $95.00 to $85.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. Finally, Robert W. Baird initiated coverage on Zillow Group in a report on Friday, January 31st. They set a "neutral" rating and a $88.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $81.05.

Zillow Group Price Performance

Shares of ZG stock traded up $0.07 during mid-day trading on Tuesday, hitting $61.49. The company had a trading volume of 254,715 shares, compared to its average volume of 578,864. The company has a market capitalization of $14.91 billion, a P/E ratio of -130.83, a P/E/G ratio of 8.90 and a beta of 2.22. The stock's 50 day moving average price is $69.22 and its 200-day moving average price is $70.71. Zillow Group has a 52-week low of $38.06 and a 52-week high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. On average, equities research analysts expect that Zillow Group will post 0.32 earnings per share for the current year.

Insider Activity at Zillow Group

In other news, CFO Jeremy Hofmann sold 1,612 shares of the company's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total value of $136,987.76. 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 1.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Errol G. Samuelson sold 2,854 shares of the firm's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total transaction of $209,312.36. Following the transaction, the insider now directly owns 142,636 shares of the company's stock, valued at approximately $10,460,924.24. This trade represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,919 shares of company stock valued at $7,869,478 in the last ninety days. Corporate insiders own 17.14% of the company's stock.

Institutional Investors Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Zillow Group during the fourth quarter valued at $165,326,000. Arrowstreet Capital Limited Partnership raised its holdings in Zillow Group by 1,261.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company's stock worth $18,454,000 after purchasing an additional 241,331 shares during the period. Virtu Financial LLC boosted its position in Zillow Group by 101.3% during the fourth quarter. Virtu Financial LLC now owns 420,255 shares of the technology company's stock worth $29,775,000 after purchasing an additional 211,482 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Zillow Group in the fourth quarter valued at approximately $14,916,000. Finally, Sone Capital Management LLC purchased a new stake in shares of Zillow Group in the fourth quarter valued at approximately $11,185,000. 20.32% of the stock is owned by institutional investors and hedge funds.

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.