Cantor Fitzgerald Begins Coverage on Zillow Group (NASDAQ:ZG)

Cantor Fitzgerald started coverage on shares of Zillow Group (NASDAQ:ZG) in a report published on Thursday, Marketbeat.com reports. The brokerage issued a neutral rating and a $47.00 target price on the technology company’s stock.

ZG has been the subject of several other reports. Craig Hallum boosted their price objective on shares of Zillow Group from $51.00 to $55.00 and gave the company a buy rating in a research report on Thursday, August 8th. Benchmark increased their price objective on Zillow Group from $60.00 to $65.00 and gave the stock a buy rating in a research note on Thursday, August 8th. Barclays lifted their target price on Zillow Group from $35.00 to $36.00 and gave the company an underweight rating in a research report on Thursday, August 8th. DA Davidson reissued a buy rating and set a $52.00 price target on shares of Zillow Group in a research report on Tuesday, June 18th. Finally, Royal Bank of Canada raised their price target on Zillow Group from $60.00 to $66.00 and gave the company an outperform rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $58.56.

Zillow Group Stock Performance

Zillow Group stock opened at $51.53 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The firm has a market capitalization of $11.93 billion, a P/E ratio of -74.68 and a beta of 2.00. Zillow Group has a 1-year low of $33.23 and a 1-year high of $59.23. The company’s 50-day moving average is $49.15 and its 200 day moving average is $46.88.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. The firm had revenue of $572.00 million during 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%. Zillow Group’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the company earned ($0.05) EPS. Research analysts forecast that Zillow Group will post -0.33 EPS for the current year.

Insiders Place Their Bets

In other news, Director Erik C. Blachford sold 1,413 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $54.87, for a total transaction of $77,531.31. Following the completion of the sale, the director now owns 35,403 shares in the company, valued at approximately $1,942,562.61. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Jay C. Hoag purchased 816,866 shares of the business’s stock in a transaction on Monday, June 10th. The shares were acquired at an average price of $43.14 per share, for a total transaction of $35,239,599.24. Following the purchase, the director now owns 1,185,540 shares of the company’s stock, valued at approximately $51,144,195.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Erik C. Blachford sold 1,413 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $54.87, for a total transaction of $77,531.31. Following the completion of the transaction, the director now directly owns 35,403 shares of the company’s stock, valued at approximately $1,942,562.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,971 shares of company stock valued at $10,314,285. 17.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zillow Group

Hedge funds have recently made changes to their positions in the company. Garde Capital Inc. grew its stake in Zillow Group by 132.7% during the 2nd quarter. Garde Capital Inc. now owns 139,805 shares of the technology company’s stock valued at $6,297,000 after purchasing an additional 79,733 shares during the last quarter. Scientech Research LLC purchased a new stake in Zillow Group in the second quarter valued at approximately $211,000. Selkirk Management LLC increased its holdings in Zillow Group by 37.4% in the 2nd quarter. Selkirk Management LLC now owns 320,800 shares of the technology company’s stock worth $14,449,000 after buying an additional 87,300 shares during the period. Mark Asset Management LP purchased a new position in Zillow Group during the 2nd quarter worth approximately $4,524,000. Finally, Thrivent Financial for Lutherans lifted its stake in Zillow Group by 155.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 73,933 shares of the technology company’s stock valued at $3,330,000 after acquiring an additional 44,959 shares during the period. 20.32% of the stock is owned by institutional investors and hedge funds.

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.