Citigroup Lowers Zillow Group (NASDAQ:ZG) Price Target to $58.00

Zillow Group (NASDAQ:ZG - Free Report) had its target price decreased by Citigroup from $68.00 to $58.00 in a research note issued to investors on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the technology company's stock.

ZG has been the subject of a number of other reports. JMP Securities lowered their price objective on shares of Zillow Group from $68.00 to $62.00 and set a market outperform rating for the company in a research note on Thursday. Susquehanna upped their price target on shares of Zillow Group from $36.00 to $60.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Royal Bank of Canada cut their price objective on shares of Zillow Group from $66.00 to $60.00 and set an outperform rating on the stock in a report on Thursday. DA Davidson restated a buy rating and set a $63.00 target price on shares of Zillow Group in a report on Friday, April 5th. Finally, Bank of America downgraded Zillow Group from a buy rating to a neutral rating in a report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Zillow Group currently has an average rating of Moderate Buy and a consensus price target of $57.25.

Zillow Group Trading Down 5.4 %

Shares of ZG traded down $2.25 during mid-day trading on Thursday, reaching $39.19. 1,540,536 shares of the company's stock traded hands, compared to its average volume of 696,114. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.24 and a quick ratio of 3.24. The stock's 50-day moving average is $47.91 and its two-hundred day moving average is $47.61. Zillow Group has a 12 month low of $33.23 and a 12 month high of $59.23. The stock has a market cap of $9.15 billion, a P/E ratio of -57.63 and a beta of 1.87.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.33) by $0.06. The firm had revenue of $474.00 million during the quarter, compared to analyst estimates of $450.75 million. Zillow Group had a negative net margin of 8.12% and a negative return on equity of 2.32%. Research analysts forecast that Zillow Group will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Errol G. Samuelson sold 4,219 shares of the firm's stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total transaction of $209,262.40. Following the sale, the insider now owns 168,863 shares of the company's stock, valued at approximately $8,375,604.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Errol G. Samuelson sold 4,219 shares of the firm's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total transaction of $209,262.40. Following the sale, the insider now directly owns 168,863 shares in the company, valued at approximately $8,375,604.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeremy Hofmann sold 7,813 shares of Zillow Group stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $54.76, for a total value of $427,839.88. Following the completion of the transaction, the chief financial officer now owns 137,347 shares of the company's stock, valued at approximately $7,521,121.72. The disclosure for this sale can be found here. Insiders have sold a total of 171,289 shares of company stock valued at $9,642,508 over the last ninety days. Company insiders own 17.14% of the company's stock.

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its position in shares of Zillow Group by 100.0% in the third quarter. CWM LLC now owns 1,222 shares of the technology company's stock valued at $55,000 after acquiring an additional 611 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Zillow Group by 33.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 9,003 shares of the technology company's stock valued at $403,000 after purchasing an additional 2,237 shares in the last quarter. AtonRa Partners acquired a new stake in Zillow Group during the 3rd quarter worth $206,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Zillow Group by 215.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,252 shares of the technology company's stock worth $414,000 after buying an additional 6,320 shares in the last quarter. Finally, Aubrey Capital Management Ltd raised its position in shares of Zillow Group by 16.4% in the third quarter. Aubrey Capital Management Ltd now owns 61,123 shares of the technology company's stock valued at $2,738,000 after buying an additional 8,600 shares during 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.