KeyCorp Issues Pessimistic Forecast for Zillow Group (NASDAQ:ZG) Stock Price

Zillow Group (NASDAQ:ZG) had its price target dropped by KeyCorp from $95.00 to $85.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target indicates a potential upside of 24.95% from the stock’s current price.

ZG has been the subject of a number of other reports. UBS Group lifted their price target on Zillow Group from $90.00 to $98.00 and gave the company a “buy” rating in a report on Monday, January 27th. Piper Sandler lowered their price objective on Zillow Group from $93.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, February 12th. Craig Hallum increased their price target on shares of Zillow Group from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Susquehanna increased their price target on shares of Zillow Group from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 price target on shares of Zillow Group in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.25.

Zillow Group Stock Performance

Shares of ZG opened at $68.03 on Tuesday. The firm has a market cap of $16.50 billion, a PE ratio of -144.41, a PEG ratio of 8.90 and a beta of 2.33. The firm’s 50 day moving average price is $74.97 and its 200 day moving average price is $69.62. Zillow Group has a twelve month low of $38.06 and a twelve month high of $86.58.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.48). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. On average, sell-side analysts anticipate that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In other Zillow Group news, CFO Jeremy Hofmann sold 1,612 shares of Zillow Group stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.98, for a total value of $136,987.76. Following the completion of the transaction, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at $8,443,782.76. The trade was a 1.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jun Choo sold 55,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $78.18, for a total value of $4,299,900.00. Following the sale, the chief operating officer now directly owns 86,853 shares in the company, valued at approximately $6,790,167.54. This trade represents a 38.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,065 shares of company stock worth $7,660,165 over the last ninety days. Insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Several large investors have recently modified their holdings of ZG. Norges Bank bought a new stake in shares of Zillow Group during the 4th quarter worth $165,326,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Zillow Group by 1,261.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company’s stock worth $18,454,000 after buying an additional 241,331 shares during the last quarter. Virtu Financial LLC lifted its position in shares of Zillow Group by 101.3% during the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock worth $29,775,000 after buying an additional 211,482 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Zillow Group during the 4th quarter worth $14,916,000. Finally, Cynosure Group LLC bought a new stake in shares of Zillow Group during the 3rd quarter worth $12,248,000. 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.