Zillow Group (NASDAQ:ZG) Given New $50.00 Price Target at Barclays

Zillow Group (NASDAQ:ZG) had its target price raised by equities research analysts at Barclays from $36.00 to $50.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the technology company’s stock. Barclays‘s target price would suggest a potential downside of 29.94% from the stock’s current price.

Several other research firms have also commented on ZG. Craig Hallum boosted their price objective on shares of Zillow Group from $55.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group raised their price objective on Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday. Cantor Fitzgerald reissued a “neutral” rating and issued a $47.00 target price on shares of Zillow Group in a report on Monday, October 7th. DA Davidson raised their price target on Zillow Group from $71.00 to $75.00 and gave the company a “buy” rating in a report on Thursday. Finally, 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 research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Zillow Group presently has an average rating of “Moderate Buy” and an average target price of $66.06.

Zillow Group Trading Up 1.8 %

Shares of ZG stock traded up $1.28 during mid-day trading on Friday, reaching $71.37. 676,117 shares of the stock traded hands, compared to its average volume of 624,506. The stock’s fifty day simple moving average is $59.25 and its two-hundred day simple moving average is $50.30. The company has a market cap of $16.52 billion, a price-to-earnings ratio of -125.75 and a beta of 2.02. Zillow Group has a 1-year low of $34.33 and a 1-year high of $72.03. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

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

Insider Activity

In other Zillow Group news, CFO Jeremy Hofmann sold 4,729 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $52.85, for a total value of $249,927.65. Following the transaction, the chief financial officer now directly owns 118,394 shares in the company, valued at $6,257,122.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Zillow Group news, CFO Jeremy Hofmann sold 4,729 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $52.85, for a total transaction of $249,927.65. Following the transaction, the chief financial officer now owns 118,394 shares in the company, valued at approximately $6,257,122.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Bradley D. Owens sold 752 shares of Zillow Group stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total value of $39,953.76. Following the completion of the sale, the general counsel now owns 35,259 shares in the company, valued at approximately $1,873,310.67. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,596 shares of company stock valued at $3,938,581. 17.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Edgestream Partners L.P. grew its stake in shares of Zillow Group by 140.6% during the 1st quarter. Edgestream Partners L.P. now owns 20,735 shares of the technology company’s stock valued at $992,000 after buying an additional 12,116 shares during the period. US Bancorp DE boosted its holdings in Zillow Group by 42.6% in the first quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock valued at $11,775,000 after purchasing an additional 73,504 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Zillow Group during the first quarter worth $1,597,000. Russell Investments Group Ltd. increased its holdings in shares of Zillow Group by 148.6% in the 1st quarter. Russell Investments Group Ltd. now owns 31,934 shares of the technology company’s stock worth $1,528,000 after acquiring an additional 19,087 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Zillow Group by 24.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 49,569 shares of the technology company’s stock valued at $2,233,000 after purchasing an additional 9,828 shares during the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

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.