Zillow Group (NASDAQ:Z) PT Raised to $71.00

Zillow Group (NASDAQ:Z) had its price objective raised by research analysts at Bank of America from $54.00 to $71.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price objective would indicate a potential upside of 11.79% from the stock’s previous close.

Several other equities research analysts also recently commented on Z. Deutsche Bank Aktiengesellschaft upped their target price on Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a research note on Thursday, August 8th. UBS Group raised Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Cantor Fitzgerald raised Zillow Group to a “hold” rating in a research note on Thursday, September 5th. Finally, Craig Hallum raised Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and an average price target of $67.83.

Zillow Group Stock Up 1.4 %

Shares of Zillow Group stock traded up $0.88 on Friday, hitting $63.51. 810,279 shares of the company’s stock traded hands, compared to its average volume of 3,786,474. The stock has a market cap of $15.00 billion, a P/E ratio of -92.04 and a beta of 1.95. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average is $59.20 and its 200 day moving average is $50.09. Zillow Group has a 52-week low of $33.80 and a 52-week high of $68.73.

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

Insider Buying and Selling

In other Zillow Group news, Chairman Lloyd D. Frink sold 150,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the sale, the chairman now owns 582 shares in the company, valued at approximately $29,583.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Thielke Claire Cormier sold 2,826 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $61.11, for a total transaction of $172,696.86. Following the sale, the director now owns 2,826 shares of the company’s stock, valued at $172,696.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Lloyd D. Frink sold 150,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the sale, the chairman now directly owns 582 shares in the company, valued at approximately $29,583.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 221,999 shares of company stock worth $11,780,363 in the last quarter. 23.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Doliver Advisors LP grew its stake in Zillow Group by 3.3% in the third quarter. Doliver Advisors LP now owns 9,681 shares of the financial services provider’s stock valued at $618,000 after purchasing an additional 310 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Zillow Group by 66.3% during the 3rd quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 313 shares during the period. Flynn Zito Capital Management LLC boosted its stake in shares of Zillow Group by 7.2% during the 2nd quarter. Flynn Zito Capital Management LLC now owns 4,810 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 325 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Zillow Group by 400.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 400 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Zillow Group by 0.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 86,527 shares of the financial services provider’s stock worth $4,221,000 after acquiring an additional 403 shares during the period. 71.01% of the stock is currently owned by 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.