Cantor Fitzgerald Reaffirms “Neutral” Rating for Zillow Group (NASDAQ:ZG)

Cantor Fitzgerald restated their neutral rating on shares of Zillow Group (NASDAQ:ZG) in a research note issued to investors on Monday, Benzinga reports. The firm currently has a $47.00 price target on the technology company’s stock.

Several other analysts have also commented on ZG. UBS Group increased their price target on shares of Zillow Group from $68.00 to $70.00 and gave the company a buy rating in a research report on Thursday, August 8th. Barclays raised their price target on Zillow Group from $35.00 to $36.00 and gave the stock an underweight rating in a research report on Thursday, August 8th. Wedbush raised Zillow Group from a neutral rating to an outperform rating and boosted their price target for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Susquehanna increased their price objective on Zillow Group from $42.00 to $55.00 and gave the company a neutral rating in a research note on Monday, August 12th. Finally, Citigroup lifted their price objective on Zillow Group from $58.00 to $62.00 and gave the stock a buy rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Zillow Group has a consensus rating of Moderate Buy and an average price target of $60.94.

Zillow Group Price Performance

ZG stock opened at $64.33 on Monday. The firm has a 50 day moving average of $52.60 and a 200-day moving average of $47.50. The company has a market cap of $14.89 billion, a price-to-earnings ratio of -93.23 and a beta of 2.00. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. Zillow Group has a 12-month low of $33.23 and a 12-month high of $66.75.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The business had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $538.36 million. During the same quarter last year, the business posted ($0.05) earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities analysts expect that Zillow Group will post -0.33 EPS for the current fiscal year.

Insider Activity at Zillow Group

In related news, CAO Jennifer Rock sold 4,050 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total value of $199,381.50. Following the transaction, the chief accounting officer now owns 79,694 shares in the company, valued at $3,923,335.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Jennifer Rock sold 4,050 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total value of $199,381.50. Following the completion of the sale, the chief accounting officer now directly owns 79,694 shares in the company, valued at approximately $3,923,335.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Dan Spaulding sold 2,991 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total value of $159,061.38. Following the transaction, the insider now owns 70,342 shares in the company, valued at approximately $3,740,787.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,999 shares of company stock worth $11,780,363. 17.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZG. Fidelis Capital Partners LLC acquired a new position in Zillow Group in the 1st quarter worth $32,000. Quadrant Capital Group LLC lifted its stake in shares of Zillow Group by 45.1% in the fourth quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock worth $43,000 after acquiring an additional 237 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Zillow Group in the first quarter worth about $53,000. Signaturefd LLC boosted its holdings in Zillow Group by 29.7% in the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after purchasing an additional 360 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in Zillow Group during the 1st quarter valued at approximately $84,000. 20.32% of the stock is currently 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.