JPMorgan Chase & Co. Cuts Zillow Group (NASDAQ:ZG) Price Target to $61.00

Zillow Group (NASDAQ:ZG) had its price objective cut by JPMorgan Chase & Co. from $65.00 to $61.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other equities analysts also recently issued reports on ZG. Bank of America downgraded shares of Zillow Group from a buy rating to a neutral rating in a report on Wednesday, January 10th. Craig Hallum decreased their price target on shares of Zillow Group from $65.00 to $51.00 and set a buy rating for the company in a report on Thursday. Piper Sandler boosted their price objective on shares of Zillow Group from $70.00 to $72.00 and gave the company an overweight rating in a report on Wednesday, February 14th. Benchmark restated a buy rating and issued a $60.00 target price on shares of Zillow Group in a research note on Tuesday, April 30th. Finally, JMP Securities reiterated a market outperform rating and set a $68.00 price target on shares of Zillow Group in a research note on Friday, April 12th. One investment 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. According to data from MarketBeat, Zillow Group currently has a consensus rating of Moderate Buy and an average price target of $57.40.

Zillow Group Stock Up 2.2 %

Shares of Zillow Group stock opened at $40.07 on Thursday. The company has a quick ratio of 3.24, a current ratio of 3.32 and a debt-to-equity ratio of 0.21. The company has a market cap of $9.35 billion, a P/E ratio of -58.07 and a beta of 1.87. The firm’s 50 day moving average price is $47.44 and its 200-day moving average price is $47.59. Zillow Group has a 52-week low of $33.23 and a 52-week high of $59.23.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.06. The business had revenue of $474.00 million for the quarter, compared to analyst estimates of $450.75 million. Zillow Group had a negative net margin of 7.93% and a negative return on equity of 2.28%. On average, sell-side analysts predict that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Activity at Zillow Group

In related news, General Counsel Bradley D. Owens sold 966 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total transaction of $56,037.66. Following the sale, the general counsel now owns 17,181 shares in the company, valued at $996,669.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Amy Bohutinsky sold 93,750 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the completion of the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $320,411.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Bradley D. Owens sold 966 shares of Zillow Group stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total transaction of $56,037.66. Following the completion of the sale, the general counsel now owns 17,181 shares in the company, valued at approximately $996,669.81. The disclosure for this sale can be found here. Insiders sold a total of 171,289 shares of company stock worth $9,642,508 in the last three months. Company insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Hedge funds have recently made changes to their positions in the company. 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 worth $456,861,000 after acquiring an additional 1,730,731 shares during the last quarter. Norges Bank purchased a new stake in shares of Zillow Group during the fourth quarter worth $102,096,000. Qube Research & Technologies Ltd raised its position in shares of Zillow Group by 50.5% in the third quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock valued at $42,397,000 after buying an additional 317,683 shares during the last quarter. UBS Group AG lifted its stake in shares of Zillow Group by 73.0% in the fourth quarter. UBS Group AG now owns 420,170 shares of the technology company’s stock worth $23,832,000 after buying an additional 177,265 shares in the last quarter. Finally, Raymond James & Associates boosted its position in Zillow Group by 1.7% during the first quarter. Raymond James & Associates now owns 180,407 shares of the technology company’s stock worth $8,634,000 after acquiring an additional 2,999 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.