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

Zillow Group (NASDAQ:Z - Get Free Report) had its price target hoisted by research analysts at Morgan Stanley from $60.00 to $75.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's target price points to a potential upside of 5.89% from the stock's previous close.

A number of other brokerages have also commented on Z. Bank of America increased their price objective on Zillow Group from $54.00 to $71.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Needham & Company LLC restated a "hold" rating on shares of Zillow Group in a research note on Thursday, November 7th. Wedbush raised shares of Zillow Group from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $50.00 to $80.00 in a report on Monday, September 16th. Finally, Jefferies Financial Group upped 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. 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $72.83.

Zillow Group Stock Performance

Shares of Z traded down $0.40 during midday trading on Monday, hitting $70.83. 3,451,938 shares of the stock traded hands, compared to its average volume of 2,498,534. Zillow Group has a 1-year low of $38.45 and a 1-year high of $86.88. The firm has a market capitalization of $16.54 billion, a PE ratio of -124.26 and a beta of 2.02. The business's 50 day moving average price is $76.88 and its two-hundred day moving average price is $63.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13.

Insiders Place Their Bets

In related news, General Counsel Bradley D. Owens sold 1,846 shares of Zillow Group stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $73.03, for a total value of $134,813.38. Following the sale, the general counsel now directly owns 29,893 shares in the company, valued at $2,183,085.79. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO David A. Beitel sold 56,750 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $72.39, for a total value of $4,108,132.50. Following the completion of the transaction, the chief technology officer now directly owns 92 shares of the company's stock, valued at $6,659.88. The trade was a 99.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 139,689 shares of company stock worth $10,395,879. Corporate insiders own 23.76% of the company's stock.

Hedge Funds Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently made changes to their positions in Z. FMR LLC raised its stake in Zillow Group by 179.5% during the 3rd quarter. FMR LLC now owns 5,095,336 shares of the financial services provider's stock valued at $325,337,000 after acquiring an additional 3,272,118 shares in the last quarter. Dorsal Capital Management LP grew its stake in Zillow Group by 59.8% during the 2nd quarter. Dorsal Capital Management LP now owns 3,100,000 shares of the financial services provider's stock valued at $143,809,000 after acquiring an additional 1,160,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Zillow Group by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,423,257 shares of the financial services provider's stock valued at $66,032,000 after acquiring an additional 139,489 shares in the last quarter. Groupama Asset Managment bought a new position in Zillow Group during the third quarter valued at approximately $83,005,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Zillow Group during the 3rd quarter valued at about $38,310,000. Institutional investors and hedge funds 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.