Citigroup Cuts Zillow Group (NASDAQ:ZG) Price Target to $87.00

Zillow Group (NASDAQ:ZG) had its price objective trimmed by Citigroup from $98.00 to $87.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods raised Zillow Group to a “hold” rating in a report on Friday, March 28th. DA Davidson restated a “buy” rating and issued a $90.00 price objective on shares of Zillow Group in a research report on Friday, April 11th. Stephens reaffirmed an “overweight” rating and set a $73.00 target price on shares of Zillow Group in a report on Wednesday, February 12th. Evercore ISI raised their price target on shares of Zillow Group from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Benchmark increased their price objective on Zillow Group from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.05.

Zillow Group Stock Up 0.1 %

ZG opened at $61.49 on Tuesday. The firm has a 50-day moving average price of $69.66 and a 200-day moving average price of $70.65. Zillow Group has a twelve month low of $38.06 and a twelve month high of $86.58. The company has a market capitalization of $14.91 billion, a price-to-earnings ratio of -130.83, a PEG ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. On average, sell-side analysts expect that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jeremy Hofmann sold 1,612 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $84.98, for a total value of $136,987.76. Following the sale, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at $8,443,782.76. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Errol G. Samuelson sold 2,854 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $73.34, for a total value of $209,312.36. Following the transaction, the insider now directly owns 142,636 shares of the company’s stock, valued at $10,460,924.24. The trade was a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 98,919 shares of company stock worth $7,869,478 in the last ninety days. 17.14% of the stock is owned by insiders.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Zillow Group in the fourth quarter valued at $165,326,000. Arrowstreet Capital Limited Partnership increased its position in shares of Zillow Group by 1,261.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company’s stock valued at $18,454,000 after buying an additional 241,331 shares during the period. Virtu Financial LLC increased its position in shares of Zillow Group by 101.3% during the fourth quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock valued at $29,775,000 after buying an additional 211,482 shares during the period. Raymond James Financial Inc. bought a new position in Zillow Group in the fourth quarter worth about $14,916,000. Finally, Sone Capital Management LLC bought a new stake in Zillow Group during the 4th quarter valued at approximately $11,185,000. Institutional investors 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.