Wedbush Trims Zillow Group (NASDAQ:Z) Target Price to $50.00

Zillow Group (NASDAQ:Z) had its price objective decreased by equities researchers at Wedbush from $60.00 to $50.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Wedbush’s price objective points to a potential upside of 28.83% from the company’s previous close.

Several other brokerages also recently commented on Z. JPMorgan Chase & Co. raised their price objective on shares of Zillow Group from $46.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Jefferies Financial Group raised their price objective on shares of Zillow Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a report on Thursday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Zillow Group has a consensus rating of “Hold” and a consensus price target of $57.00.

Zillow Group Trading Down 7.4 %

NASDAQ:Z traded down $3.08 on Thursday, reaching $38.81. 2,294,511 shares of the stock traded hands, compared to its average volume of 3,812,192. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of -57.07 and a beta of 1.79. The company’s 50 day moving average is $49.08 and its 200-day moving average is $48.91. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.22. Zillow Group has a 1-year low of $33.80 and a 1-year high of $61.13.

Zillow Group (NASDAQ:Z) last released its earnings results on Tuesday, February 13th. The financial services provider reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.06. The business had revenue of $474.00 million during the quarter, compared to the consensus estimate of $450.75 million. Zillow Group had a negative net margin of 8.12% and a negative return on equity of 2.32%. Equities research analysts anticipate that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other news, CAO Jennifer Rock sold 7,352 shares of Zillow Group stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $57.29, for a total transaction of $421,196.08. Following the sale, the chief accounting officer now directly owns 56,384 shares in the company, valued at approximately $3,230,239.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Jennifer Rock sold 7,352 shares of Zillow Group stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $57.29, for a total transaction of $421,196.08. Following the sale, the chief accounting officer now directly owns 56,384 shares in the company, valued at approximately $3,230,239.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeremy Hofmann sold 4,636 shares of Zillow Group stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.00, for a total value of $268,888.00. Following the completion of the sale, the chief financial officer now directly owns 104,251 shares of the company’s stock, valued at approximately $6,046,558. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,289 shares of company stock worth $9,642,508. Corporate insiders own 23.76% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently modified their holdings of Z. GAMMA Investing LLC purchased a new position in shares of Zillow Group during the fourth quarter worth about $25,000. Concord Wealth Partners purchased a new position in shares of Zillow Group during the first quarter worth about $26,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Zillow Group during the third quarter worth about $33,000. Fidelis Capital Partners LLC purchased a new position in shares of Zillow Group during the first quarter worth about $37,000. Finally, Montag A & Associates Inc. purchased a new position in shares of Zillow Group during the third quarter worth about $37,000. 71.01% of the stock is currently owned by 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.