Zillow Group's (ZG) "Market Outperform" Rating Reiterated at JMP Securities

Key Points

• JMP Securities has reiterated Zillow Group's stock rating as "market outperform" with a target price of $87.00, indicating a potential upside of 14.20% from the current price.
• Zillow Group's stock has a consensus rating of "Moderate Buy" from fourteen analysts, with an average target price of $86.18.
• In recent transactions, insider Dan Spaulding sold 100,000 shares of Zillow Group, representing a 59.21% decrease in his ownership, while Chairman Richard N. Barton sold 200,000 shares, reflecting a 19.17% decrease in his ownership.

Zillow Group (NASDAQ:ZG - Get Free Report)'s stock had its "market outperform" rating restated by JMP Securities in a research note issued to investors on Thursday,Benzinga reports. They currently have a $87.00 price target on the technology company's stock. JMP Securities' target price suggests a potential upside of 14.20% from the company's current price.

A number of other research firms also recently commented on ZG. DA Davidson raised their price objective on Zillow Group from $85.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Zelman & Associates raised shares of Zillow Group to a "hold" rating in a report on Friday, August 8th. Evercore ISI upped their target price on shares of Zillow Group from $90.00 to $95.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Piper Sandler boosted their price objective on Zillow Group from $82.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group lifted their target price on shares of Zillow Group from $76.00 to $84.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. Fourteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $86.18.

Zillow Group Stock Down 0.4%

NASDAQ ZG opened at $76.18 on Thursday. The firm has a market cap of $18.46 billion, a P/E ratio of -291.33, a P/E/G ratio of 21.29 and a beta of 2.02. The business's 50-day moving average price is $80.33 and its 200 day moving average price is $71.82. Zillow Group has a 52-week low of $55.08 and a 52-week high of $90.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.04). The firm had revenue of $655.00 million during the quarter, compared to analysts' expectations of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The firm's revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. As a group, analysts anticipate that Zillow Group will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Dan Spaulding sold 100,000 shares of Zillow Group stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $85.91, for a total value of $8,591,000.00. Following the completion of the transaction, the insider directly owned 68,889 shares of the company's stock, valued at $5,918,253.99. The trade was a 59.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Richard N. Barton sold 200,000 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $84.92, for a total value of $16,984,000.00. Following the completion of the transaction, the chairman owned 843,248 shares in the company, valued at $71,608,620.16. The trade was a 19.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 657,087 shares of company stock worth $56,286,479 over the last ninety days. 17.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in Zillow Group during the second quarter worth $159,770,000. Millennium Management LLC lifted its holdings in Zillow Group by 110.8% in the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company's stock valued at $19,456,000 after buying an additional 152,955 shares during the period. Driehaus Capital Management LLC bought a new position in shares of Zillow Group during the 1st quarter worth about $9,998,000. Nuveen LLC bought a new position in shares of Zillow Group in the first quarter valued at $8,950,000. Finally, GAMMA Investing LLC lifted its stake in Zillow Group by 9,124.2% during the 1st quarter. GAMMA Investing LLC now owns 122,220 shares of the technology company's stock valued at $8,172,000 after acquiring an additional 120,895 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors.

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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