Morgan Stanley Increases Zillow Group (NASDAQ:Z) Price Target to $75.00

Zillow Group (NASDAQ:Z) had its target price upped by research analysts at Morgan Stanley from $60.00 to $75.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 4.40% from the company’s current price.

A number of other research firms also recently issued reports on Z. Jefferies Financial Group increased their price objective on Zillow Group from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and raised their target price for the company from $50.00 to $80.00 in a research report on Monday, September 16th. Bank of America increased their price objective on shares of Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.83.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $71.84 on Monday. The stock’s fifty day simple moving average is $77.08 and its 200 day simple moving average is $63.22. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $16.78 billion, a PE ratio of -126.04 and a beta of 2.02. Zillow Group has a 12 month low of $38.45 and a 12 month high of $86.88.

Insider Buying and Selling

In other news, CAO Jennifer Rock sold 3,033 shares of Zillow Group stock in a transaction on Friday, December 6th. The stock was sold at an average price of $82.78, for a total value of $251,071.74. Following the transaction, the chief accounting officer now owns 57,166 shares in the company, valued at approximately $4,732,201.48. This trade represents a 5.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Bradley D. Owens sold 1,212 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $73.98, for a total value of $89,663.76. Following the transaction, the general counsel now directly owns 31,739 shares of the company’s stock, valued at $2,348,051.22. This trade represents a 3.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 139,689 shares of company stock valued at $10,395,879 over the last 90 days. 23.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in Zillow Group by 2.4% in the 3rd quarter. Brighton Jones LLC now owns 6,953 shares of the financial services provider’s stock valued at $444,000 after buying an additional 166 shares during the last quarter. Arkadios Wealth Advisors raised its position in Zillow Group by 0.5% during the 3rd quarter. Arkadios Wealth Advisors now owns 41,430 shares of the financial services provider’s stock worth $2,645,000 after purchasing an additional 198 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in Zillow Group by 17.9% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,617 shares of the financial services provider’s stock worth $120,000 after buying an additional 245 shares during the period. Doliver Advisors LP grew its position in shares of Zillow Group by 3.3% in the 3rd quarter. Doliver Advisors LP now owns 9,681 shares of the financial services provider’s stock valued at $618,000 after buying an additional 310 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Zillow Group by 66.3% during the third 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 last quarter. Institutional investors own 71.01% of the company’s stock.

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.