Keefe, Bruyette & Woods Lowers Zillow Group (NASDAQ:Z) Price Target to $65.00

Zillow Group (NASDAQ:Z) had its price target lowered by equities research analysts at Keefe, Bruyette & Woods from $80.00 to $65.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 18.25% from the stock’s current price.

Z has been the subject of several other research reports. Barclays upgraded Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. Mizuho downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $91.33.

Zillow Group Price Performance

Zillow Group stock opened at $54.97 on Monday. The stock has a market cap of $13.31 billion, a PE ratio of -392.61, a P/E/G ratio of 3.19 and a beta of 2.08. The stock’s fifty day moving average is $68.20 and its two-hundred day moving average is $74.95. Zillow Group has a 1-year low of $53.61 and a 1-year high of $93.88.

Insiders Place Their Bets

In other Zillow Group news, insider Dan Spaulding sold 5,455 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $69.40, for a total transaction of $378,577.00. Following the completion of the sale, the insider directly owned 50,342 shares of the company’s stock, valued at approximately $3,493,734.80. This trade represents a 9.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Wacksman sold 10,855 shares of Zillow Group stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $69.99, for a total value of $759,741.45. Following the completion of the transaction, the chief executive officer owned 134,712 shares in the company, valued at $9,428,492.88. This trade represents a 7.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 64,801 shares of company stock valued at $4,566,277. 23.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently bought and sold shares of Z. Vanguard Group Inc. increased its stake in Zillow Group by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider’s stock valued at $1,777,841,000 after buying an additional 71,336 shares during the period. Capital World Investors increased its stake in shares of Zillow Group by 7.8% during the third quarter. Capital World Investors now owns 10,635,008 shares of the financial services provider’s stock worth $819,427,000 after acquiring an additional 769,944 shares during the period. Ninety One UK Ltd raised its holdings in Zillow Group by 2.0% during the third quarter. Ninety One UK Ltd now owns 4,825,287 shares of the financial services provider’s stock worth $371,788,000 after purchasing an additional 93,339 shares in the last quarter. Eminence Capital LP raised its holdings in Zillow Group by 63.6% during the second quarter. Eminence Capital LP now owns 3,978,731 shares of the financial services provider’s stock worth $278,710,000 after purchasing an additional 1,546,577 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Zillow Group by 2.3% in the second quarter. Geode Capital Management LLC now owns 3,142,403 shares of the financial services provider’s stock valued at $219,467,000 after purchasing an additional 69,630 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

About Zillow Group

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.