Zillow Group (NASDAQ:Z) PT Raised to $71.00

Zillow Group (NASDAQ:Z) had its price objective lifted by equities research analysts at Bank of America from $54.00 to $71.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s target price points to a potential upside of 11.44% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised their price objective on Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Craig Hallum raised shares of Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. UBS Group raised shares of Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.83.

Zillow Group Stock Performance

Shares of Z stock opened at $63.71 on Friday. The firm has a market capitalization of $15.05 billion, a price-to-earnings ratio of -92.33 and a beta of 1.95. The stock has a fifty day moving average of $59.44 and a 200 day moving average of $50.19. Zillow Group has a 52 week low of $33.80 and a 52 week high of $68.73. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:Z) last posted its earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.13. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The firm had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $539.74 million. As a group, research analysts expect that Zillow Group will post -0.33 earnings per share for the current year.

Insider Transactions at Zillow Group

In other Zillow Group news, CAO Jennifer Rock sold 4,050 shares of Zillow Group stock in a transaction 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 completion of the sale, the chief accounting officer now owns 79,694 shares of the company’s stock, valued at approximately $3,923,335.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the transaction, the director now owns 5,652 shares in the company, valued at $379,983.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $199,381.50. Following the completion of the sale, the chief accounting officer now directly owns 79,694 shares of the company’s stock, valued at approximately $3,923,335.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,999 shares of company stock worth $11,780,363. Corporate insiders own 23.76% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently modified their holdings of Z. Concord Wealth Partners purchased a new position in shares of Zillow Group in the first quarter worth approximately $26,000. Larson Financial Group LLC grew its position in shares of Zillow Group by 364.4% during the 2nd quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 481 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Zillow Group by 400.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 400 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Zillow Group during the third quarter valued at about $35,000. Finally, Fidelis Capital Partners LLC purchased a new stake in Zillow Group in the first quarter worth about $37,000. 71.01% 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.