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

Zillow Group, Inc. (NASDAQ:Z) has been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating on 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 brokerages have commented on Z. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research note on Thursday, November 7th. Morgan Stanley raised their target price on Zillow Group from $46.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Bank of America lifted their target price on Zillow Group from $54.00 to $71.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $50.00 to $80.00 in a research note on Monday, September 16th. Finally, Jefferies Financial Group lifted their price objective on shares of Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd.

Insider Activity

In other Zillow Group news, CTO David A. Beitel sold 56,750 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.39, for a total value of $4,108,132.50. Following the transaction, the chief technology officer now owns 92 shares in the company, valued at $6,659.88. The trade was a 99.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Errol G. Samuelson sold 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $73.57, for a total value of $1,250,690.00. Following the completion of the sale, the insider now directly owns 22,739 shares of the company’s stock, valued at approximately $1,672,908.23. The trade was a 42.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 139,689 shares of company stock worth $10,395,879 in the last 90 days. Company insiders own 23.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. abrdn plc lifted its position in Zillow Group by 98.0% during the 3rd quarter. abrdn plc now owns 48,990 shares of the financial services provider’s stock worth $3,128,000 after acquiring an additional 24,247 shares during the last quarter. Prudential PLC acquired a new position in shares of Zillow Group during the 2nd quarter worth about $474,000. IVY Lane Capital Management LLC boosted its stake in Zillow Group by 35.0% during the 3rd quarter. IVY Lane Capital Management LLC now owns 135,000 shares of the financial services provider’s stock valued at $8,620,000 after purchasing an additional 35,000 shares during the period. Thrivent Financial for Lutherans acquired a new stake in Zillow Group in the 3rd quarter valued at approximately $6,267,000. Finally, Entropy Technologies LP bought a new position in Zillow Group in the 3rd quarter worth approximately $1,370,000. 71.01% of the stock is owned by institutional investors.

Zillow Group Stock Performance

Shares of Z stock opened at $71.07 on Friday. The company has a market cap of $16.60 billion, a P/E ratio of -124.68 and a beta of 2.02. The business has a 50 day moving average of $76.43 and a two-hundred day moving average of $62.59. Zillow Group has a 52 week low of $38.45 and a 52 week 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.

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.