Zillow Group (NASDAQ:Z) PT Lowered to $50.00

Zillow Group (NASDAQ:Z) had its price objective reduced by Wedbush from $60.00 to $50.00 in a report published on Thursday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other research firms have also weighed in on Z. Jefferies Financial Group raised their target price on Zillow Group from $70.00 to $75.00 and gave the company a buy rating in a report on Monday, March 4th. JPMorgan Chase & Co. raised their price objective on Zillow Group from $46.00 to $65.00 and gave the company an overweight rating in a research note on Friday, January 26th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Zillow Group in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and an average price target of $56.20.

Zillow Group Trading Up 2.1 %

NASDAQ:Z opened at $40.69 on Thursday. The company has a market capitalization of $9.50 billion, a P/E ratio of -58.97 and a beta of 1.79. The stock’s 50 day moving average price is $48.55 and its 200 day moving average price is $48.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.24 and a current ratio of 3.32. Zillow Group has a 52 week low of $33.80 and a 52 week high of $61.13.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.36 by ($0.42). Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. The business had revenue of $529.00 million for the quarter, compared to analyst estimates of $509.30 million. During the same quarter last year, the company earned ($0.06) EPS. On average, research analysts forecast that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Dan Spaulding sold 5,114 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $55.45, for a total value of $283,571.30. Following the completion of the sale, the insider now directly owns 43,180 shares of the company’s stock, valued at $2,394,331. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Bradley D. Owens sold 966 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total transaction of $56,037.66. Following the transaction, the general counsel now directly owns 17,181 shares in the company, valued at $996,669.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dan Spaulding sold 5,114 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $55.45, for a total value of $283,571.30. Following the completion of the transaction, the insider now directly owns 43,180 shares of the company’s stock, valued at approximately $2,394,331. The disclosure for this sale can be found here. In the last 90 days, insiders sold 171,289 shares of company stock valued at $9,642,508. Insiders own 23.76% of the company’s stock.

Institutional Trading of Zillow Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in Zillow Group by 203.1% in the 3rd quarter. FMR LLC now owns 3,450,713 shares of the financial services provider’s stock valued at $159,285,000 after buying an additional 2,312,241 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Zillow Group by 7,507.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,133,685 shares of the financial services provider’s stock valued at $55,301,000 after purchasing an additional 1,118,782 shares in the last quarter. Norges Bank bought a new stake in shares of Zillow Group in the 4th quarter worth about $34,718,000. Ninety One UK Ltd increased its position in shares of Zillow Group by 29.4% during the 4th quarter. Ninety One UK Ltd now owns 1,899,383 shares of the financial services provider’s stock worth $109,898,000 after purchasing an additional 431,070 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Zillow Group by 688.9% during the 3rd quarter. Nordea Investment Management AB now owns 426,611 shares of the financial services provider’s stock valued at $19,910,000 after purchasing an additional 372,532 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

About Zillow Group

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.