Zillow Group (NASDAQ:Z) Price Target Raised to $75.00

Zillow Group (NASDAQ:Z) had its price objective hoisted by Morgan Stanley from $60.00 to $75.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on Z. Bank of America lifted their price objective on Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and upped their price target for the company from $50.00 to $80.00 in a research note on Monday, September 16th. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research report on Thursday, November 7th. Finally, Jefferies Financial Group boosted their target price on shares of Zillow Group from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Four equities research 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. According to data from MarketBeat, Zillow Group currently has a consensus rating of “Moderate Buy” and an average price target of $72.83.

Zillow Group Trading Down 0.6 %

Shares of Z stock opened at $70.83 on Monday. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $16.54 billion, a price-to-earnings ratio of -124.26 and a beta of 2.02. Zillow Group has a 12-month low of $38.45 and a 12-month high of $86.88. The stock’s 50-day moving average price is $76.88 and its 200-day moving average price is $63.05.

Insider Activity

In related news, insider Susan Daimler sold 3,694 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total transaction of $273,282.12. Following the completion of the transaction, the insider now owns 18,770 shares in the company, valued at $1,388,604.60. The trade was a 16.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Bradley D. Owens sold 1,212 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total value of $89,663.76. Following the completion of the sale, the general counsel now owns 31,739 shares in the company, valued at approximately $2,348,051.22. The trade was a 3.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 139,689 shares of company stock valued at $10,395,879. 23.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zillow Group

Large investors have recently added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of 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 acquiring an additional 400 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Zillow Group during the 3rd quarter valued at $35,000. Blue Trust Inc. lifted its holdings in shares of Zillow Group by 66.3% in the 3rd quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock worth $50,000 after buying an additional 313 shares during the period. Quarry LP purchased a new stake in shares of Zillow Group in the 2nd quarter worth $61,000. Finally, Brooklyn Investment Group purchased a new position in shares of Zillow Group during the third quarter valued at $74,000. 71.01% of the stock is 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.