Zillow Group (Z) PT Lowered to $33.00 at Morgan Stanley

Zillow Group (NASDAQ:Z) had its price target dropped by investment analysts at Morgan Stanley from $52.00 to $33.00 in a report released on Thursday. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 12.38% from the company’s previous close.

Other research analysts have also issued research reports about the company. ValuEngine upgraded Zillow Group from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. BidaskClub lowered Zillow Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 1st. Zelman & Associates began coverage on Zillow Group in a report on Friday, November 2nd. They issued a “hold” rating on the stock. Susquehanna Bancshares reiterated a “negative” rating and set a $23.00 price target on shares of Zillow Group in a report on Wednesday. Finally, Bank of America lowered Zillow Group from a “buy” rating to a “neutral” rating in a report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $49.34.

Shares of NASDAQ:Z traded down $0.62 during midday trading on Thursday, reaching $29.37. 7,534,284 shares of the company’s stock traded hands, compared to its average volume of 2,447,202. Zillow Group has a 1 year low of $29.98 and a 1 year high of $65.70. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 195.77 and a beta of 0.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.18 and a quick ratio of 8.13.

Zillow Group (NASDAQ:Z) last announced its earnings results on Tuesday, November 6th. The financial services provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.14). Zillow Group had a negative net margin of 7.94% and a positive return on equity of 0.06%. The business had revenue of $343.09 million for the quarter.

In other news, CEO Spencer M. Rascoff sold 58,050 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $47.66, for a total transaction of $2,766,663.00. Following the completion of the transaction, the chief executive officer now directly owns 70,050 shares of the company’s stock, valued at $3,338,583. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Greg M. Schwartz sold 5,400 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $48.34, for a total value of $261,036.00. Following the transaction, the insider now directly owns 1,800 shares of the company’s stock, valued at $87,012. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,375 shares of company stock valued at $8,525,002. 21.72% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. United Services Automobile Association lifted its stake in Zillow Group by 7.3% during the second quarter. United Services Automobile Association now owns 18,244 shares of the financial services provider’s stock worth $1,077,000 after purchasing an additional 1,248 shares during the last quarter. Willingdon Wealth Management lifted its stake in Zillow Group by 3.2% during the third quarter. Willingdon Wealth Management now owns 46,007 shares of the financial services provider’s stock worth $2,036,000 after purchasing an additional 1,431 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Zillow Group by 21.8% during the third quarter. CIBC Asset Management Inc now owns 8,257 shares of the financial services provider’s stock worth $365,000 after purchasing an additional 1,478 shares during the last quarter. Bank of Montreal Can lifted its stake in Zillow Group by 2.6% during the second quarter. Bank of Montreal Can now owns 67,794 shares of the financial services provider’s stock worth $4,005,000 after purchasing an additional 1,712 shares during the last quarter. Finally, Strs Ohio lifted its stake in Zillow Group by 33.2% during the third quarter. Strs Ohio now owns 7,161 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 1,786 shares during the last quarter. 60.53% of the stock is owned by institutional investors and hedge funds.

About Zillow Group

Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable consumers find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

Recommended Story: Correction

Analyst Recommendations for Zillow Group (NASDAQ:Z)

Receive News & Ratings for Zillow Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zillow Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply