Zillow Group (NASDAQ:ZG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Zillow Group (NASDAQ:ZG - Free Report) had its target price hoisted by Wells Fargo & Company from $60.00 to $75.00 in a research report report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the technology company's stock.

Several other analysts also recently weighed in on the company. Piper Sandler lifted their target price on Zillow Group from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. The Goldman Sachs Group cut their price target on Zillow Group from $77.00 to $69.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. KeyCorp cut their price target on Zillow Group from $95.00 to $85.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 18th. Benchmark cut their price target on Zillow Group from $110.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Barclays cut their price target on Zillow Group from $64.00 to $60.00 and set an "underweight" rating on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $82.45.

Zillow Group Stock Down 1.1%

ZG traded down $0.86 during trading on Tuesday, reaching $75.31. The company had a trading volume of 444,452 shares, compared to its average volume of 557,270. The stock has a market cap of $18.18 billion, a P/E ratio of -221.50, a PEG ratio of 14.07 and a beta of 2.09. The business has a 50 day simple moving average of $68.19 and a 200-day simple moving average of $70.04. Zillow Group has a 52 week low of $40.30 and a 52 week high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued 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 company had revenue of $598.00 million during the quarter, compared to the consensus estimate of $587.88 million. Zillow Group had a negative return on equity of 1.62% and a negative net margin of 3.51%. The firm's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. As a group, equities research analysts expect that Zillow Group will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other news, Director Erik C. Blachford sold 965 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $70.35, for a total transaction of $67,887.75. Following the sale, the director owned 35,474 shares in the company, valued at approximately $2,495,595.90. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dan Spaulding sold 5,534 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $68.98, for a total value of $381,735.32. Following the sale, the insider owned 68,889 shares in the company, valued at $4,751,963.22. The trade was a 7.44% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,093 shares of company stock valued at $6,989,688. Insiders own 17.14% of the company's stock.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently modified their holdings of ZG. Norges Bank acquired a new position in Zillow Group in the fourth quarter valued at approximately $165,326,000. Arrowstreet Capital Limited Partnership lifted its holdings in Zillow Group by 1,261.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company's stock valued at $18,454,000 after acquiring an additional 241,331 shares during the period. Virtu Financial LLC lifted its holdings in Zillow Group by 101.3% in the fourth quarter. Virtu Financial LLC now owns 420,255 shares of the technology company's stock valued at $29,775,000 after acquiring an additional 211,482 shares during the period. Raymond James Financial Inc. acquired a new position in Zillow Group in the fourth quarter valued at approximately $14,916,000. Finally, Sone Capital Management LLC acquired a new position in Zillow Group in the fourth 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.