DA Davidson Reiterates “Buy” Rating for Zillow Group (NASDAQ:ZG)

DA Davidson reaffirmed their buy rating on shares of Zillow Group (NASDAQ:ZG) in a report published on Tuesday, Benzinga reports. DA Davidson currently has a $52.00 target price on the technology company’s stock.

Other equities analysts have also issued reports about the company. Craig Hallum reduced their price target on Zillow Group from $65.00 to $51.00 and set a buy rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. reduced their target price on shares of Zillow Group from $65.00 to $61.00 and set an overweight rating on the stock in a research report on Thursday, May 2nd. JMP Securities lowered their price target on shares of Zillow Group from $68.00 to $62.00 and set a market outperform rating for the company in a report on Thursday, May 2nd. Citigroup cut their price objective on shares of Zillow Group from $68.00 to $58.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Finally, Royal Bank of Canada lowered their target price on Zillow Group from $66.00 to $60.00 and set an outperform rating for the company in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $56.67.

Zillow Group Price Performance

ZG opened at $47.55 on Tuesday. Zillow Group has a 1 year low of $33.23 and a 1 year high of $59.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.32 and a current ratio of 3.32. The company’s 50 day simple moving average is $42.23 and its 200 day simple moving average is $48.67. The stock has a market capitalization of $11.23 billion, a PE ratio of -68.91 and a beta of 2.02.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, May 1st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Zillow Group had a negative net margin of 7.93% and a negative return on equity of 2.28%. The firm had revenue of $529.00 million during the quarter, compared to the consensus estimate of $509.30 million. As a group, sell-side analysts expect that Zillow Group will post -0.4 EPS for the current year.

Insider Activity at Zillow Group

In related news, General Counsel Bradley D. Owens sold 1,373 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $44.15, for a total transaction of $60,617.95. Following the sale, the general counsel now directly owns 40,194 shares in the company, valued at $1,774,565.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Zillow Group news, General Counsel Bradley D. Owens sold 1,373 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $44.15, for a total value of $60,617.95. Following the sale, the general counsel now owns 40,194 shares in the company, valued at $1,774,565.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jay C. Hoag acquired 1,000,000 shares of Zillow Group stock in a transaction dated Friday, June 7th. The shares were purchased at an average price of $42.27 per share, with a total value of $42,270,000.00. Following the acquisition, the director now owns 652,520 shares of the company’s stock, valued at $27,582,020.40. The disclosure for this purchase can be found here. Insiders have sold 64,260 shares of company stock worth $2,846,739 in the last ninety days. Company insiders own 17.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in shares of Zillow Group during the fourth quarter valued at about $26,000. Creative Financial Designs Inc. ADV bought a new position in shares of Zillow Group in the fourth quarter worth $31,000. Fidelis Capital Partners LLC purchased a new position in Zillow Group during the 1st quarter valued at about $32,000. Quadrant Capital Group LLC grew its position in shares of Zillow Group by 45.1% during the 4th quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock valued at $43,000 after purchasing an additional 237 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of Zillow Group in the first quarter worth approximately $53,000. 20.32% of the stock is owned by institutional investors and hedge funds.

Zillow Group Company Profile

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.