Zillow Group (NASDAQ:ZG) Given Outperform Rating at Royal Bank of Canada

Zillow Group (NASDAQ:ZG)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a report released on Monday, Benzinga reports. They presently have a $60.00 price objective on the technology company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 44.13% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. JMP Securities reduced their price target on shares of Zillow Group from $68.00 to $62.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 2nd. Citigroup reduced their price target on shares of Zillow Group from $68.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. cut their price objective on shares of Zillow Group from $65.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Benchmark reiterated a “buy” rating and issued a $60.00 price objective on shares of Zillow Group in a research report on Tuesday, April 30th. Finally, DA Davidson reiterated a “buy” rating and issued a $52.00 price objective on shares of Zillow Group in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.69.

Zillow Group Stock Down 3.5 %

NASDAQ ZG traded down $1.51 during trading hours on Monday, reaching $41.63. 423,848 shares of the company traded hands, compared to its average volume of 641,136. The company has a 50 day moving average of $45.41 and a two-hundred day moving average of $47.38. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.21. Zillow Group has a 12 month low of $33.23 and a 12 month high of $59.23. The stock has a market capitalization of $9.83 billion, a PE ratio of -60.33 and a beta of 2.05.

Insiders Place Their Bets

In related news, CFO Jeremy Hofmann sold 8,562 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $39.05, for a total transaction of $334,346.10. Following the completion of the sale, the chief financial officer now directly owns 123,123 shares in the company, valued at $4,807,953.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Zillow Group news, CFO Jeremy Hofmann sold 8,562 shares of Zillow Group stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $39.05, for a total value of $334,346.10. Following the completion of the sale, the chief financial officer now directly owns 123,123 shares in the company, valued at $4,807,953.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan Daimler sold 5,786 shares of Zillow Group stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $44.22, for a total transaction of $255,856.92. Following the completion of the sale, the insider now owns 35,572 shares of the company’s stock, valued at $1,572,993.84. The disclosure for this sale can be found here. Insiders sold a total of 60,041 shares of company stock worth $2,637,477 over the last ninety days. 17.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zillow Group

Institutional investors have recently modified their holdings of the company. Shannon River Fund Management LLC bought a new position in Zillow Group during the fourth quarter worth $4,384,000. GSA Capital Partners LLP increased its position in Zillow Group by 47.8% during the fourth quarter. GSA Capital Partners LLP now owns 78,301 shares of the technology company’s stock worth $4,441,000 after acquiring an additional 25,333 shares during the period. Norges Bank bought a new position in Zillow Group during the fourth quarter worth $102,096,000. CWM LLC increased its holdings in Zillow Group by 3,675.7% in the 4th quarter. CWM LLC now owns 46,139 shares of the technology company’s stock valued at $2,617,000 after buying an additional 44,917 shares during the period. Finally, Edgestream Partners L.P. increased its holdings in Zillow Group by 140.6% in the 1st quarter. Edgestream Partners L.P. now owns 20,735 shares of the technology company’s stock valued at $992,000 after buying an additional 12,116 shares during the period. Institutional investors 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.