Brokerages Set Zillow Group, Inc. (NASDAQ:Z) Price Target at $70.33

Shares of Zillow Group, Inc. (NASDAQ:Z) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $70.33.

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of 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 lifted their price target for the company from $50.00 to $80.00 in a research note on Monday, September 16th. Bank of America upped their target price on Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Morgan Stanley upped their price target on shares of Zillow Group from $46.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Thursday, November 7th.

Zillow Group Price Performance

Z stock opened at $72.72 on Friday. Zillow Group has a 52 week low of $38.45 and a 52 week high of $86.88. The firm has a market capitalization of $16.98 billion, a P/E ratio of -127.58 and a beta of 2.02. The company has a fifty day simple moving average of $76.20 and a two-hundred day simple moving average of $62.53. 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 other Zillow Group news, insider Errol G. Samuelson sold 17,000 shares of Zillow Group stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $73.57, for a total transaction of $1,250,690.00. Following the sale, the insider now owns 22,739 shares of the company’s stock, valued at $1,672,908.23. The trade was a 42.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Susan Daimler sold 3,694 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total transaction of $273,282.12. Following the completion of the sale, the insider now owns 18,770 shares of the company’s stock, valued at $1,388,604.60. This trade represents a 16.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 139,689 shares of company stock worth $10,395,879. Company insiders own 23.76% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors have recently added to or reduced their stakes in Z. CIBC Asset Management Inc grew its stake in shares of Zillow Group by 13.2% in the 2nd quarter. CIBC Asset Management Inc now owns 5,758 shares of the financial services provider’s stock valued at $267,000 after buying an additional 673 shares during the period. Rhumbline Advisers grew its position in Zillow Group by 3.0% in the second quarter. Rhumbline Advisers now owns 185,696 shares of the financial services provider’s stock worth $8,614,000 after acquiring an additional 5,427 shares during the period. Larson Financial Group LLC increased its stake in Zillow Group by 364.4% during the second quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 481 shares during the last quarter. TD Asset Management Inc raised its position in Zillow Group by 10.7% in the second quarter. TD Asset Management Inc now owns 14,420 shares of the financial services provider’s stock valued at $669,000 after purchasing an additional 1,398 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Zillow Group by 1.7% in the 2nd quarter. Arizona State Retirement System now owns 43,203 shares of the financial services provider’s stock valued at $2,004,000 after purchasing an additional 708 shares during the last quarter. 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.