Morgan Stanley Increases Zillow Group (NASDAQ:Z) Price Target to $60.00

Zillow Group (NASDAQ:Z) had its target price lifted by Morgan Stanley from $46.00 to $60.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

A number of other research firms have also weighed in on Z. Needham & Company LLC reaffirmed a hold rating on shares of Zillow Group in a report on Thursday, August 8th. UBS Group raised Zillow Group to a strong-buy rating in a report on Thursday, August 8th. Cantor Fitzgerald raised Zillow Group to a hold rating in a report on Thursday, September 5th. Wedbush raised Zillow Group from a neutral rating to an outperform rating and boosted their price objective for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Zillow Group from $55.00 to $60.00 and gave the stock a buy rating in a report on Friday, August 9th. Three investment 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 stock. Based on data from MarketBeat, Zillow Group currently has an average rating of Moderate Buy and an average target price of $67.20.

Zillow Group Trading Down 1.6 %

Shares of Zillow Group stock opened at $62.78 on Wednesday. Zillow Group has a 1 year low of $33.80 and a 1 year high of $68.73. The firm has a market cap of $14.83 billion, a PE ratio of -90.99 and a beta of 1.95. The stock has a fifty day moving average price of $56.29 and a 200-day moving average price of $49.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12.

Zillow Group (NASDAQ:Z) last announced its earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.13. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The firm had revenue of $572.00 million during the quarter, compared to analyst estimates of $539.74 million. Equities research analysts anticipate that Zillow Group will post -0.33 EPS for the current year.

Insider Activity at Zillow Group

In related news, CAO Jennifer Rock sold 4,050 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total transaction of $199,381.50. Following the completion of the transaction, the chief accounting officer now owns 79,694 shares in the company, valued at $3,923,335.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Amy Bohutinsky sold 20,625 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the sale, the director now directly owns 5,652 shares of the company’s stock, valued at $379,983.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jennifer Rock sold 4,050 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total value of $199,381.50. Following the completion of the sale, the chief accounting officer now directly owns 79,694 shares in the company, valued at approximately $3,923,335.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 221,999 shares of company stock worth $11,780,363 over the last quarter. 23.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Zillow Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 21,313,573 shares of the financial services provider’s stock valued at $1,039,676,000 after acquiring an additional 176,449 shares in the last quarter. Capital World Investors lifted its stake in shares of Zillow Group by 2.8% in the first quarter. Capital World Investors now owns 8,846,232 shares of the financial services provider’s stock worth $431,519,000 after buying an additional 238,554 shares in the last quarter. Dorsal Capital Management LP lifted its stake in shares of Zillow Group by 59.8% in the second quarter. Dorsal Capital Management LP now owns 3,100,000 shares of the financial services provider’s stock worth $143,809,000 after buying an additional 1,160,000 shares in the last quarter. Greencape Capital Pty Ltd lifted its stake in shares of Zillow Group by 93.0% in the first quarter. Greencape Capital Pty Ltd now owns 1,632,790 shares of the financial services provider’s stock worth $79,647,000 after buying an additional 786,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Zillow Group by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,423,257 shares of the financial services provider’s stock worth $66,032,000 after buying an additional 139,489 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other 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.