DA Davidson Reiterates Buy Rating for Zillow Group (NASDAQ:ZG)

Zillow Group (NASDAQ:ZG - Get Free Report)'s stock had its "buy" rating reiterated by analysts at DA Davidson in a research note issued on Friday,Benzinga reports. They currently have a $85.00 price objective on the technology company's stock. DA Davidson's price objective points to a potential upside of 13.42% from the company's previous close.

Several other research firms have also recently issued reports on ZG. Keefe, Bruyette & Woods upgraded Zillow Group to a "hold" rating in a research report on Friday, March 28th. William Blair started coverage on Zillow Group in a research report on Monday, April 21st. They issued a "market perform" rating for the company. Barclays cut their price objective on Zillow Group from $64.00 to $60.00 and set an "underweight" rating for the company in a research report on Thursday, May 8th. The Goldman Sachs Group lowered their target price on Zillow Group from $77.00 to $69.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, UBS Group lowered their target price on Zillow Group from $98.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $82.45.

Zillow Group Price Performance

Shares of ZG stock traded up $0.46 during trading hours on Friday, hitting $74.94. The stock had a trading volume of 11,504 shares, compared to its average volume of 553,510. The firm has a market capitalization of $18.09 billion, a PE ratio of -220.00, a PEG ratio of 13.70 and a beta of 2.09. Zillow Group has a twelve month low of $40.30 and a twelve month high of $86.58. The stock's 50 day moving average is $68.84 and its 200 day moving average is $70.09.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). The firm had revenue of $598.00 million during the quarter, compared to analyst estimates of $587.88 million. Zillow Group had a negative net margin of 3.51% and a negative return on equity of 1.62%. Zillow Group's revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. As a group, equities analysts predict that Zillow Group will post 0.32 earnings per share for the current year.

Insider Activity

In other Zillow Group news, insider Errol G. Samuelson sold 6,962 shares of Zillow Group stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $68.63, for a total transaction of $477,802.06. Following the sale, the insider directly owned 135,674 shares in the company, valued at $9,311,306.62. The trade was a 4.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gordon Sheridan Stephenson sold 10,000 shares of Zillow Group stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $70.69, for a total value of $706,900.00. Following the sale, the director owned 28,290 shares in the company, valued at $1,999,820.10. This represents a 26.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,093 shares of company stock worth $6,989,688 in the last ninety days. 17.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ZG. Norges Bank acquired a new position in shares of Zillow Group in the 4th quarter worth approximately $165,326,000. Arrowstreet Capital Limited Partnership boosted its position in Zillow Group by 1,261.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company's stock valued at $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 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company's stock valued at $29,775,000 after purchasing an additional 211,482 shares during the period. Raymond James Financial Inc. acquired a new position in Zillow Group during the 4th quarter valued at approximately $14,916,000. Finally, Sone Capital Management LLC acquired a new position in Zillow Group during the 4th quarter valued at approximately $11,185,000. Institutional investors and hedge funds 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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