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

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

Other research analysts also recently issued research reports about the stock. Needham & Company LLC restated a hold rating on shares of Zillow Group in a research report on Thursday, August 8th. Cantor Fitzgerald upgraded shares of Zillow Group to a hold rating in a research report on Thursday, September 5th. UBS Group upgraded shares of Zillow Group to a strong-buy rating in a research report on Thursday, August 8th. Craig Hallum upgraded shares of Zillow Group to a strong-buy rating in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Zillow Group from $55.00 to $60.00 and gave the company a buy rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $67.20.

Zillow Group Trading Down 1.6 %

Shares of NASDAQ Z opened at $62.78 on Wednesday. The firm’s 50 day moving average price is $56.29 and its 200-day moving average price is $49.30. The company has a market cap of $14.83 billion, a PE ratio of -90.99 and a beta of 1.95. Zillow Group has a 52-week low of $33.80 and a 52-week high of $68.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.12 and a current ratio of 2.12.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.13. The company had revenue of $572.00 million for the quarter, compared to the consensus estimate of $539.74 million. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. On average, equities research analysts expect that Zillow Group will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other news, Chairman Lloyd D. Frink sold 150,000 shares of the stock in a transaction on 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 directly owns 582 shares of the company’s stock, valued at $29,583.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Chairman Lloyd D. Frink sold 150,000 shares of the stock in a transaction on 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 directly owns 582 shares of the company’s stock, valued at $29,583.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy Bohutinsky sold 20,625 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the completion of the sale, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $379,983.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 221,999 shares of company stock valued at $11,780,363. Insiders own 23.76% of the company’s stock.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently modified their holdings of Z. Focus Financial Network Inc. ADV purchased a new position in Zillow Group during the fourth quarter valued at $210,000. Allianz Asset Management GmbH grew its stake in Zillow Group by 100.7% during the fourth quarter. Allianz Asset Management GmbH now owns 37,248 shares of the financial services provider’s stock valued at $2,155,000 after acquiring an additional 18,686 shares in the last quarter. California State Teachers Retirement System grew its stake in Zillow Group by 4.6% during the fourth quarter. California State Teachers Retirement System now owns 269,128 shares of the financial services provider’s stock valued at $15,572,000 after acquiring an additional 11,896 shares in the last quarter. Cibc World Markets Corp purchased a new position in Zillow Group during the fourth quarter valued at $3,309,000. Finally, CenterBook Partners LP purchased a new position in Zillow Group during the fourth quarter valued at $1,181,000. 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.