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

Zillow Group (NASDAQ:Z) had its price objective hoisted by investment analysts at Morgan Stanley from $60.00 to $75.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 7.01% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a report on Thursday, November 7th. Bank of America raised their price target on shares of Zillow Group from $54.00 to $71.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Jefferies Financial Group boosted their target price on shares of Zillow Group from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $50.00 to $80.00 in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.83.

Zillow Group Stock Down 1.6 %

Shares of NASDAQ:Z traded down $1.14 during trading on Monday, reaching $70.09. 795,772 shares of the company traded hands, compared to its average volume of 2,115,179. The firm has a fifty day simple moving average of $76.88 and a 200 day simple moving average of $63.05. The firm has a market cap of $16.37 billion, a P/E ratio of -122.96 and a beta of 2.02. Zillow Group has a 1-year low of $38.45 and a 1-year high of $86.88. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11.

Insiders Place Their Bets

In related news, CEO Jeremy Wacksman sold 5,985 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $73.96, for a total value of $442,650.60. Following the completion of the transaction, the chief executive officer now owns 161,678 shares of the company’s stock, valued at approximately $11,957,704.88. This trade represents a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer Rock sold 3,033 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $82.78, for a total transaction of $251,071.74. Following the completion of the transaction, the chief accounting officer now directly owns 57,166 shares of the company’s stock, valued at approximately $4,732,201.48. This trade represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 139,689 shares of company stock worth $10,395,879. Company insiders own 23.76% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Zillow Group by 400.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock valued at $32,000 after buying an additional 400 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Zillow Group during the 3rd quarter valued at approximately $35,000. Blue Trust Inc. grew its holdings in shares of Zillow Group by 66.3% during the 3rd quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 313 shares during the last quarter. Quarry LP bought a new stake in shares of Zillow Group during the 2nd quarter valued at approximately $61,000. Finally, Brooklyn Investment Group bought a new stake in shares of Zillow Group during the 3rd quarter valued at approximately $74,000. 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.