Zillow Group (NASDAQ:ZG) Price Target Lowered to $85.00 at DA Davidson

Zillow Group (NASDAQ:ZG - Get Free Report) had its price target dropped by analysts at DA Davidson from $90.00 to $85.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. DA Davidson's target price suggests a potential upside of 27.28% from the stock's current price.

Several other analysts have also recently issued reports on ZG. KeyCorp cut their price objective 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. Susquehanna raised their price objective on Zillow Group from $75.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Citigroup lowered their target price on shares of Zillow Group from $98.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Keefe, Bruyette & Woods upgraded shares of Zillow Group to a "hold" rating in a research report on Friday, March 28th. Finally, Canaccord Genuity Group lowered their price objective on shares of Zillow Group from $86.00 to $76.00 and set a "hold" rating for the company in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $81.80.

Zillow Group Stock Up 0.0 %

Shares of Zillow Group stock traded up $0.03 during trading hours on Thursday, hitting $66.78. 628,660 shares of the company's stock traded hands, compared to its average volume of 561,251. Zillow Group has a twelve month low of $38.40 and a twelve month high of $86.58. The stock has a 50 day simple moving average of $66.35 and a 200-day simple moving average of $71.22. The company has a market cap of $16.20 billion, a PE ratio of -142.09, a PEG ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). The company had revenue of $598.00 million for the quarter, compared to analyst estimates of $587.88 million. Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. The firm's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. As a group, equities research analysts predict that Zillow Group will post 0.32 EPS for the current year.

Insider Activity at Zillow Group

In other news, insider Errol G. Samuelson sold 6,967 shares of Zillow Group stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total value of $541,475.24. Following the transaction, the insider now owns 127,467 shares of the company's stock, valued at $9,906,735.24. The trade was a 5.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Jun Choo sold 55,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the sale, the chief operating officer now directly owns 86,853 shares of the company's stock, valued at approximately $6,790,167.54. This represents a 38.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,919 shares of company stock worth $5,744,978 over the last quarter. 17.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Pilgrim Partners Asia Pte Ltd acquired a new stake in Zillow Group during the 4th quarter worth about $27,000. Blue Trust Inc. raised its holdings in shares of Zillow Group by 70.2% during the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company's stock valued at $30,000 after acquiring an additional 172 shares during the period. Salem Investment Counselors Inc. purchased a new stake in shares of Zillow Group in the 1st quarter valued at approximately $42,000. CX Institutional acquired a new position in Zillow Group in the 1st quarter worth approximately $46,000. Finally, Asset Dedication LLC acquired a new position in Zillow Group in the 4th quarter worth approximately $47,000. 20.32% of the stock is owned by institutional investors and hedge funds.

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.