Zillow Group’s (ZG) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of Zillow Group (NASDAQ:ZG) in a report issued on Wednesday morning, Benzinga reports. They currently have a $62.00 target price on the technology company’s stock.

Other analysts have also issued research reports about the company. Wedbush raised Zillow Group from a neutral rating to an outperform rating and boosted their target price for the company from $50.00 to $80.00 in a research report on Monday, September 16th. Cantor Fitzgerald reissued a neutral rating and issued a $47.00 target price on shares of Zillow Group in a research report on Monday, October 7th. Evercore ISI boosted their target price on Zillow Group from $50.00 to $55.00 and gave the company an outperform rating in a research report on Thursday, August 8th. Susquehanna boosted their target price on Zillow Group from $42.00 to $55.00 and gave the company a neutral rating in a research report on Monday, August 12th. Finally, DA Davidson boosted their price target on shares of Zillow Group from $52.00 to $71.00 and gave the stock a buy rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $60.94.

Zillow Group Stock Up 3.4 %

ZG stock opened at $60.82 on Wednesday. The firm has a market cap of $14.08 billion, a PE ratio of -99.70 and a beta of 2.01. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12. The firm’s 50 day moving average price is $55.85 and its 200-day moving average price is $48.42. Zillow Group has a one year low of $33.23 and a one year high of $66.75.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. The company had revenue of $572.00 million for the quarter, compared to analyst estimates of $538.36 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) earnings per share. On average, equities research analysts anticipate that Zillow Group will post -0.33 EPS for the current year.

Insider Buying and Selling

In related news, CAO Jennifer Rock sold 4,050 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total transaction of $199,381.50. Following the completion of the transaction, the chief accounting officer now owns 79,694 shares in the company, valued at approximately $3,923,335.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the transaction, the director now owns 5,652 shares in the company, valued at $379,983.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jennifer Rock sold 4,050 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total transaction of $199,381.50. Following the completion of the transaction, the chief accounting officer now owns 79,694 shares of the company’s stock, valued at $3,923,335.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 221,999 shares of company stock worth $11,780,363. Corporate insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning raised its holdings in Zillow Group by 7.2% during the third quarter. Creative Planning now owns 6,537 shares of the technology company’s stock worth $405,000 after purchasing an additional 439 shares in the last quarter. CWM LLC raised its holdings in Zillow Group by 18.6% during the third quarter. CWM LLC now owns 34,258 shares of the technology company’s stock worth $2,122,000 after purchasing an additional 5,377 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Zillow Group during the third quarter worth about $29,000. GAMMA Investing LLC raised its holdings in Zillow Group by 86.7% during the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after purchasing an additional 561 shares in the last quarter. Finally, Garde Capital Inc. raised its holdings in Zillow Group by 132.7% during the second quarter. Garde Capital Inc. now owns 139,805 shares of the technology company’s stock worth $6,297,000 after purchasing an additional 79,733 shares in the last quarter. 20.32% of the stock is owned by hedge funds and other 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.