Zillow Group (NASDAQ:Z) Given New $50.00 Price Target at Wedbush

Zillow Group (NASDAQ:Z) had its price target decreased by Wedbush from $60.00 to $50.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Wedbush’s price objective suggests a potential upside of 28.83% from the company’s current price.

Several other brokerages have also commented on Z. 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 report on Friday, January 26th. Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a report on Thursday. Finally, Jefferies Financial Group raised their price objective on Zillow Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $57.00.

Zillow Group Stock Performance

Zillow Group stock traded down $3.08 during midday trading on Thursday, hitting $38.81. 2,294,511 shares of the company were exchanged, compared to its average volume of 3,812,192. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.24 and a current ratio of 3.24. Zillow Group has a fifty-two week low of $33.80 and a fifty-two week high of $61.13. The business has a fifty day simple moving average of $49.08 and a two-hundred day simple moving average of $48.91. The firm has a market capitalization of $9.06 billion, a PE ratio of -57.07 and a beta of 1.79.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Tuesday, February 13th. The financial services provider reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.06. Zillow Group had a negative return on equity of 2.32% and a negative net margin of 8.12%. The company had revenue of $474.00 million for the quarter, compared to analyst estimates of $450.75 million. On average, sell-side analysts forecast that Zillow Group will post -0.18 earnings per share for the current year.

Insider Transactions at Zillow Group

In other news, Director Amy Bohutinsky sold 93,750 shares of Zillow Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $56.69, for a total value of $5,314,687.50. Following the sale, the director now directly owns 5,652 shares of the company’s stock, valued at $320,411.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Susan Daimler sold 15,206 shares of Zillow Group stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $56.36, for a total transaction of $857,010.16. Following the transaction, the insider now owns 36,148 shares in the company, valued at $2,037,301.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Amy Bohutinsky sold 93,750 shares of Zillow Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $56.69, for a total value of $5,314,687.50. Following the transaction, the director now owns 5,652 shares in the company, valued at approximately $320,411.88. The disclosure for this sale can be found here. Insiders have sold 171,289 shares of company stock valued at $9,642,508 over the last ninety days. Insiders own 23.76% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in Zillow Group in the fourth quarter valued at $9,983,000. FMR LLC grew its stake in shares of Zillow Group by 203.1% in the third 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. Hsbc Holdings PLC grew its stake in shares of Zillow Group by 35.4% in the third quarter. Hsbc Holdings PLC now owns 261,547 shares of the financial services provider’s stock valued at $12,103,000 after buying an additional 68,357 shares in the last quarter. Ninety One UK Ltd grew its stake in shares of Zillow Group by 29.4% in the fourth quarter. Ninety One UK Ltd now owns 1,899,383 shares of the financial services provider’s stock valued at $109,898,000 after buying an additional 431,070 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Zillow Group in the third quarter valued at $2,864,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.