UBS Group Boosts Zillow Group (NASDAQ:ZG) Price Target to $80.00

Zillow Group (NASDAQ:ZG) had its target price upped by UBS Group from $70.00 to $80.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other research analysts also recently commented on ZG. Citigroup increased their price objective on Zillow Group from $58.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 8th. DA Davidson increased their price objective on Zillow Group from $52.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Susquehanna increased their price objective on Zillow Group from $42.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $80.00 in a report on Monday, September 16th. Finally, Benchmark increased their price objective on Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.53.

Zillow Group Price Performance

ZG opened at $57.75 on Tuesday. The stock’s 50-day moving average price is $58.18 and its 200 day moving average price is $49.23. Zillow Group has a 12-month low of $33.23 and a 12-month high of $66.75. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. The firm has a market cap of $13.37 billion, a price-to-earnings ratio of -94.67 and a beta of 2.01.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.08. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The company had revenue of $572.00 million for the quarter, compared to the consensus estimate of $538.36 million. During the same quarter in the prior year, the business earned ($0.05) EPS. Zillow Group’s revenue was up 13.0% on a year-over-year basis. As a group, sell-side analysts expect that Zillow Group will post -0.33 earnings per share for the current year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 4,050 shares of Zillow Group stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total value of $199,381.50. Following the transaction, the chief accounting officer now directly owns 79,694 shares in the company, valued at approximately $3,923,335.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Zillow Group news, CAO Jennifer Rock sold 4,050 shares of Zillow Group stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total value of $199,381.50. Following the transaction, the chief accounting officer now directly owns 79,694 shares in the company, valued at approximately $3,923,335.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 ninety days, insiders have sold 221,999 shares of company stock worth $11,780,363. 17.14% of the stock is currently owned by insiders.

Institutional Trading of Zillow Group

A number of institutional investors have recently modified their holdings of ZG. Vanguard Group Inc. boosted its stake in shares of Zillow Group by 27.4% in the fourth quarter. Vanguard Group Inc. now owns 8,054,673 shares of the technology company’s stock valued at $456,861,000 after buying an additional 1,730,731 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Zillow Group during the first quarter worth $219,000. Naples Money Management LLC purchased a new stake in Zillow Group during the first quarter worth $1,230,000. Fidelis Capital Partners LLC purchased a new stake in Zillow Group during the first quarter worth $32,000. Finally, Central Pacific Bank Trust Division purchased a new stake in Zillow Group during the first quarter worth $84,000. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

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.