Zillow Group (NASDAQ:Z) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Zillow Group (NASDAQ:Z) had its price target boosted by equities researchers at Morgan Stanley from $60.00 to $75.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 4.40% from the company’s previous close.

A number of other analysts have also commented on the company. Jefferies Financial Group boosted their target price on Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $50.00 to $80.00 in a research report on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research note on Thursday, November 7th. Finally, Bank of America raised their price objective on shares of Zillow Group from $54.00 to $71.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.83.

Zillow Group Price Performance

Shares of Z opened at $71.84 on Monday. The firm has a market cap of $16.78 billion, a PE ratio of -126.04 and a beta of 2.02. Zillow Group has a 52-week low of $38.45 and a 52-week high of $86.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. The business’s 50 day moving average price is $77.08 and its two-hundred day moving average price is $63.22.

Insider Transactions at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 17,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $73.57, for a total value of $1,250,690.00. Following the completion of the sale, the insider now directly owns 22,739 shares of the company’s stock, valued at $1,672,908.23. This trade represents a 42.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO David A. Beitel sold 56,750 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $72.39, for a total value of $4,108,132.50. Following the transaction, the chief technology officer now directly owns 92 shares in the company, valued at $6,659.88. This represents a 99.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 139,689 shares of company stock worth $10,395,879 in the last 90 days. 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 added to or reduced their stakes in Z. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Zillow Group by 400.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 400 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Zillow Group during the third quarter valued at about $35,000. Blue Trust Inc. lifted its holdings in shares of Zillow Group by 66.3% in the third quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock worth $50,000 after buying an additional 313 shares in the last quarter. Quarry LP purchased a new stake in shares of Zillow Group in the second quarter worth about $61,000. Finally, Brooklyn Investment Group bought a new position in shares of Zillow Group in the third quarter valued at approximately $74,000. Institutional investors own 71.01% 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.