Zillow Group (NASDAQ:ZG) Given New $64.00 Price Target at Canaccord Genuity Group

Zillow Group (NASDAQ:ZG) had its target price raised by Canaccord Genuity Group from $56.00 to $64.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a hold rating on the technology company’s stock.

A number of other equities research analysts have also issued reports on ZG. Craig Hallum raised their price target on Zillow Group from $55.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. Susquehanna upped their price target on shares of Zillow Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Evercore ISI raised their price target on shares of Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday. Cantor Fitzgerald restated a “neutral” rating and issued a $47.00 target price on shares of Zillow Group in a research note on Monday, October 7th. Finally, Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $50.00 to $80.00 in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Zillow Group has an average rating of “Moderate Buy” and an average target price of $65.28.

Zillow Group Price Performance

ZG traded up $0.54 during trading on Thursday, reaching $70.63. The company had a trading volume of 410,589 shares, compared to its average volume of 623,155. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The business has a 50 day simple moving average of $59.25 and a 200-day simple moving average of $50.30. Zillow Group has a 52 week low of $34.33 and a 52 week high of $71.28.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.08. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.34%. The firm had revenue of $572.00 million during the quarter, compared to analyst estimates of $538.36 million. During the same quarter last year, the business earned ($0.05) EPS. The business’s revenue was up 13.0% on a year-over-year basis. As a group, research analysts predict that Zillow Group will post -0.33 earnings per share for the current year.

Insider Transactions at Zillow Group

In other news, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the sale, the director now directly owns 5,652 shares of the company’s stock, valued at $379,983.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $1,386,618.75. Following the completion of the transaction, the director now directly owns 5,652 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, CFO Jeremy Hofmann sold 7,155 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $56.89, for a total transaction of $407,047.95. Following the completion of the transaction, the chief financial officer now directly owns 111,239 shares in the company, valued at approximately $6,328,386.71. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,596 shares of company stock valued at $3,938,581 in the last quarter. 17.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ZG. Future Financial Wealth Managment LLC purchased a new stake in Zillow Group in the third quarter valued at $29,000. EntryPoint Capital LLC acquired a new position in shares of Zillow Group in the 1st quarter worth approximately $53,000. Signaturefd LLC boosted its position in shares of Zillow Group by 29.7% during the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after purchasing an additional 360 shares during the period. GAMMA Investing LLC increased its holdings in Zillow Group by 86.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after purchasing an additional 561 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in Zillow Group in the first quarter valued at approximately $84,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.