Piper Sandler Reiterates “Overweight” Rating for Zillow Group (NASDAQ:ZG)

Piper Sandler reiterated their overweight rating on shares of Zillow Group (NASDAQ:ZG) in a report issued on Thursday morning,Benzinga reports. Piper Sandler currently has a $73.00 target price on the technology company’s stock, up from their prior target price of $62.00.

A number of other brokerages have also commented on ZG. Evercore ISI increased their price objective on Zillow Group from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price target on shares of Zillow Group in a research report on Tuesday, October 22nd. Benchmark raised their price objective on shares of Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $50.00 to $80.00 in a research note on Monday, September 16th. Finally, DA Davidson increased their target price on Zillow Group from $52.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.28.

Zillow Group Stock Up 0.8 %

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

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $572.00 million during the quarter, compared to the consensus estimate of $538.36 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts anticipate that Zillow Group will post -0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Bradley D. Owens sold 752 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total transaction of $39,953.76. Following the sale, the general counsel now owns 35,259 shares of the company’s stock, valued at $1,873,310.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Zillow Group news, General Counsel Bradley D. Owens sold 752 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total transaction of $39,953.76. Following the sale, the general counsel now directly owns 35,259 shares in the company, valued at $1,873,310.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Jennifer Rock sold 3,208 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $52.84, for a total transaction of $169,510.72. Following the completion of the transaction, the chief accounting officer now owns 76,486 shares of the company’s stock, valued at $4,041,520.24. The trade was 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 worth $3,938,581 in the last quarter. 17.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of Zillow Group by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 441,800 shares of the technology company’s stock valued at $19,901,000 after purchasing an additional 35,503 shares during the last quarter. Selkirk Management LLC boosted its holdings in shares of Zillow Group by 37.4% during the 2nd quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock valued at $14,449,000 after acquiring an additional 87,300 shares in the last quarter. US Bancorp DE grew its holdings in shares of Zillow Group by 6.5% during the third quarter. US Bancorp DE now owns 297,819 shares of the technology company’s stock worth $18,444,000 after purchasing an additional 18,136 shares during the last quarter. Raymond James & Associates lifted its position in shares of Zillow Group by 7.0% in the 2nd quarter. Raymond James & Associates now owns 193,023 shares of the technology company’s stock worth $8,694,000 after purchasing an additional 12,616 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Zillow Group by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 162,647 shares of the technology company’s stock worth $7,326,000 after purchasing an additional 7,311 shares in the last quarter. 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.