Zillow Group (NASDAQ:Z) Price Target Raised to $71.00

Zillow Group (NASDAQ:Z - Get Free Report) had its price objective increased by equities research analysts at Bank of America from $54.00 to $71.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. Bank of America's price target suggests a potential upside of 11.44% from the company's previous close.

A number of other equities research analysts have also recently commented on the stock. Craig Hallum raised shares of Zillow Group to a "strong-buy" rating in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Zillow Group in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zillow Group from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Cantor Fitzgerald raised shares of Zillow Group to a "hold" rating in a report on Thursday, September 5th. Finally, UBS Group upgraded shares of Zillow Group to a "strong-buy" rating in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $67.83.

Zillow Group Stock Up 1.7 %

Z stock traded up $1.08 during mid-day trading on Friday, reaching $63.71. 2,031,851 shares of the company traded hands, compared to its average volume of 3,792,521. The stock has a market cap of $15.05 billion, a price-to-earnings ratio of -92.04 and a beta of 1.95. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. Zillow Group has a fifty-two week low of $33.80 and a fifty-two week high of $68.73. The firm's 50 day moving average price is $59.20 and its 200 day moving average price is $50.09.

Zillow Group (NASDAQ:Z - Get Free Report) last posted its earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.13. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The firm had revenue of $572.00 million for the quarter, compared to analysts' expectations of $539.74 million. As a group, equities research analysts predict that Zillow Group will post -0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Thielke Claire Cormier sold 2,826 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $61.11, for a total transaction of $172,696.86. Following the completion of the transaction, the director now directly owns 2,826 shares of the company's stock, valued at approximately $172,696.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Thielke Claire Cormier sold 2,826 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $61.11, for a total transaction of $172,696.86. Following the completion of the transaction, the director now directly owns 2,826 shares of the company's stock, valued at approximately $172,696.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer Rock sold 4,050 shares of the company's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $49.23, for a total transaction of $199,381.50. Following the transaction, the chief accounting officer now directly owns 79,694 shares of the company's stock, valued at approximately $3,923,335.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,999 shares of company stock valued at $11,780,363 over the last three months. Insiders own 23.76% of the company's stock.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors have recently made changes to their positions in the company. Mather Group LLC. bought a new position in Zillow Group in the first quarter worth approximately $62,000. Contravisory Investment Management Inc. raised its position in shares of Zillow Group by 5.2% during the 1st quarter. Contravisory Investment Management Inc. now owns 129,240 shares of the financial services provider's stock valued at $6,304,000 after purchasing an additional 6,337 shares during the period. TB Alternative Assets Ltd. raised its position in shares of Zillow Group by 28.8% during the 1st quarter. TB Alternative Assets Ltd. now owns 772,900 shares of the financial services provider's stock valued at $37,702,000 after purchasing an additional 172,900 shares during the period. ERn Financial LLC raised its position in shares of Zillow Group by 7.2% during the 1st quarter. ERn Financial LLC now owns 10,195 shares of the financial services provider's stock valued at $497,000 after purchasing an additional 682 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Zillow Group by 30.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 669,892 shares of the financial services provider's stock valued at $32,677,000 after purchasing an additional 156,249 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.

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.