Wells Fargo & Company Raises Zillow Group (NASDAQ:ZG) Price Target to $75.00

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

Several other equities analysts have also recently weighed in on the stock. Wedbush reaffirmed an "outperform" rating and issued a $90.00 price target (down previously from $100.00) on shares of Zillow Group in a research report on Thursday, May 8th. Keefe, Bruyette & Woods raised shares of Zillow Group to a "hold" rating in a research report on Friday, March 28th. Barclays lowered their price objective on shares of Zillow Group from $64.00 to $60.00 and set an "underweight" rating on the stock in a research report on Thursday, May 8th. Benchmark reduced their target price on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, KeyCorp reduced their target price on shares of Zillow Group from $95.00 to $85.00 and set an "overweight" rating for the company in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $82.45.

Zillow Group Stock Down 0.3%

Shares of ZG stock traded down $0.20 during trading hours on Tuesday, hitting $70.23. 857,164 shares of the company's stock traded hands, compared to its average volume of 557,511. The stock's 50 day simple moving average is $67.62 and its 200 day simple moving average is $69.99. The stock has a market cap of $16.96 billion, a PE ratio of -206.56, a price-to-earnings-growth ratio of 12.99 and a beta of 2.09. Zillow Group has a 12 month low of $40.30 and a 12 month high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.41 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 analyst estimates of $587.88 million. Zillow Group had a negative return on equity of 1.62% and a negative net margin of 3.51%. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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

In other Zillow Group news, CEO Jeremy Wacksman sold 10,984 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $68.98, for a total transaction of $757,676.32. Following the completion of the sale, the chief executive officer owned 171,517 shares of the company's stock, valued at $11,831,242.66. This represents a 6.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Erik C. Blachford sold 965 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $70.35, for a total transaction of $67,887.75. Following the transaction, the director directly 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 disclosure for this sale can be found here. Insiders have sold a total of 101,093 shares of company stock worth $6,989,688 in the last 90 days. 17.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in Zillow Group by 38.0% during the 1st quarter. GAMMA Investing LLC now owns 1,828 shares of the technology company's stock valued at $122,000 after purchasing an additional 503 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Zillow Group by 60.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,044 shares of the technology company's stock valued at $404,000 after buying an additional 2,288 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Zillow Group by 136.3% in the 4th quarter. Victory Capital Management Inc. now owns 22,982 shares of the technology company's stock worth $1,628,000 after purchasing an additional 13,255 shares during the period. SG Americas Securities LLC lifted its position in Zillow Group by 253.3% during the first quarter. SG Americas Securities LLC now owns 20,980 shares of the technology company's stock valued at $1,403,000 after purchasing an additional 15,042 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new stake in Zillow Group in the 4th quarter worth approximately $228,000. 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.