Zillow Group (NASDAQ:Z) PT Raised to $60.00 at Morgan Stanley

Zillow Group (NASDAQ:Z) had its price target lifted by investment analysts at Morgan Stanley from $46.00 to $60.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target points to a potential downside of 7.19% from the stock’s previous close.

Z has been the subject of a number of other research reports. UBS Group raised shares of Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a report on Thursday, August 8th. Craig Hallum raised Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Cantor Fitzgerald upgraded Zillow Group to a “hold” rating in a research report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Three 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 company. Based on data from MarketBeat, Zillow Group has an average rating of “Moderate Buy” and an average price target of $67.20.

Zillow Group Stock Up 1.3 %

Zillow Group stock opened at $64.65 on Wednesday. The business’s 50-day moving average price is $55.12 and its 200 day moving average price is $48.87. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The firm has a market cap of $15.27 billion, a price-to-earnings ratio of -93.70 and a beta of 1.94. Zillow Group has a 52 week low of $33.80 and a 52 week high of $68.73.

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

Insider Transactions at Zillow Group

In other news, Director Amy Bohutinsky sold 20,625 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at $379,983.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Zillow Group news, Director Thielke Claire Cormier sold 2,826 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $61.11, for a total transaction of $172,696.86. Following the transaction, the director now owns 2,826 shares of the company’s stock, valued at $172,696.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy Bohutinsky sold 20,625 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the completion of the sale, the director now owns 5,652 shares of the company’s stock, valued at $379,983.96. The disclosure for this sale can be found here. Insiders have sold 221,999 shares of company stock valued at $11,780,363 over the last ninety days. Insiders own 23.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Concord Wealth Partners acquired a new position in Zillow Group in the first quarter valued at approximately $26,000. Larson Financial Group LLC raised its position in Zillow Group by 364.4% in the second quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 481 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Zillow Group in the 1st quarter valued at $37,000. Quarry LP purchased a new position in shares of Zillow Group during the 2nd quarter worth $61,000. Finally, Mather Group LLC. acquired a new stake in shares of Zillow Group during the 1st quarter worth about $62,000. Institutional investors and hedge funds 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.