SunTrust Banks Begins Coverage on Zillow Group (NASDAQ:ZG)
SunTrust Banks assumed coverage on shares of Zillow Group (NASDAQ:ZG) in a research note issued to investors on Tuesday morning, Benzinga reports. The firm issued a buy rating and a $49.39 price target on the technology company’s stock.
A number of other research firms have also commented on ZG. Cowen assumed coverage on Kontoor Brands in a report on Monday, April 8th. They issued a neutral rating and a $7.50 price target for the company. ValuEngine lowered Zymeworks from a buy rating to a hold rating in a report on Saturday, May 18th. Canaccord Genuity set a $52.00 price target on Zillow Group and gave the stock a hold rating in a report on Wednesday, June 19th. Bank of America reaffirmed a hold rating on shares of TELUS in a report on Friday, May 10th. Finally, Benchmark reaffirmed a buy rating and issued a $18.00 price target on shares of TEGNA in a report on Friday, May 10th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $45.46.
ZG stock opened at $49.91 on Tuesday. Zillow Group has a twelve month low of $26.20 and a twelve month high of $64.66. The company has a quick ratio of 3.98, a current ratio of 4.73 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $45.05. The company has a market capitalization of $10.24 billion, a price-to-earnings ratio of -191.96 and a beta of 0.82.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Zillow Group during the 4th quarter valued at about $28,753,000. State of Wisconsin Investment Board increased its holdings in Zillow Group by 94.0% during the 1st quarter. State of Wisconsin Investment Board now owns 1,819,535 shares of the technology company’s stock valued at $62,228,000 after purchasing an additional 881,815 shares during the period. FMR LLC increased its holdings in Zillow Group by 241.4% during the 4th quarter. FMR LLC now owns 528,637 shares of the technology company’s stock valued at $16,615,000 after purchasing an additional 373,785 shares during the period. Two Sigma Investments LP purchased a new position in Zillow Group during the 4th quarter valued at about $6,137,000. Finally, Two Sigma Advisers LP purchased a new position in Zillow Group during the 4th quarter valued at about $4,492,000. Hedge funds and other institutional investors own 24.15% of the company’s stock.
Zillow Group Company Profile
Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.
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