Zillow Group (NASDAQ:Z) Price Target Cut to $50.00 by Analysts at Wedbush

Zillow Group (NASDAQ:Z) had its target price cut by Wedbush from $60.00 to $50.00 in a research note released on Thursday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

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

Zillow Group Stock Performance

Zillow Group stock opened at $40.69 on Thursday. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of -58.97 and a beta of 1.79. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.32 and a quick ratio of 3.24. The firm has a 50 day simple moving average of $48.55 and a 200-day simple moving average of $48.83. Zillow Group has a 1-year low of $33.80 and a 1-year high of $61.13.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.42). Zillow Group had a negative net margin of 7.93% and a negative return on equity of 2.28%. The company had revenue of $529.00 million during the quarter, compared to analysts’ expectations of $509.30 million. During the same quarter last year, the firm posted ($0.06) earnings per share. On average, analysts expect that Zillow Group will post -0.18 EPS for the current year.

Insider Transactions at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 4,219 shares of Zillow Group stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total value of $209,262.40. Following the transaction, the insider now directly owns 168,863 shares in the company, valued at $8,375,604.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Susan Daimler sold 15,206 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $56.36, for a total value of $857,010.16. Following the completion of the sale, the insider now owns 36,148 shares in the company, valued at approximately $2,037,301.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Errol G. Samuelson sold 4,219 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total transaction of $209,262.40. Following the transaction, the insider now owns 168,863 shares in the company, valued at $8,375,604.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 171,289 shares of company stock worth $9,642,508. Insiders own 23.76% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in Zillow Group in the fourth quarter valued at about $9,983,000. FMR LLC increased 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 purchasing an additional 2,312,241 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Zillow Group by 35.4% during the third quarter. Hsbc Holdings PLC now owns 261,547 shares of the financial services provider’s stock worth $12,103,000 after purchasing an additional 68,357 shares during the last quarter. Ninety One UK Ltd boosted its position in Zillow Group by 29.4% during the fourth 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, Quantbot Technologies LP purchased a new position 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.