Zillow Group (NASDAQ:Z) Price Target Cut to $61.00 by Analysts at JPMorgan Chase & Co.

Zillow Group (NASDAQ:Z) had its target price lowered by JPMorgan Chase & Co. from $65.00 to $61.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Z has been the subject of a number of other research reports. Jefferies Financial Group raised their target price on shares of Zillow Group from $70.00 to $75.00 and gave the company a buy rating in a research note on Monday, March 4th. Wedbush dropped their target price on Zillow Group from $60.00 to $50.00 and set a neutral rating on the stock in a report on Thursday. Finally, Needham & Company LLC restated a hold rating on shares of Zillow Group in a report on Thursday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Zillow Group currently has an average rating of Hold and an average price target of $56.20.

Zillow Group Price Performance

Shares of Z stock opened at $40.69 on Thursday. The business’s fifty day moving average is $48.55 and its 200 day moving average is $48.94. The company has a quick ratio of 3.24, a current ratio of 3.32 and a debt-to-equity ratio of 0.21. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of -58.97 and a beta of 1.79. Zillow Group has a twelve month low of $33.80 and a twelve month high of $61.13.

Zillow Group (NASDAQ:Z) last announced its earnings results on Wednesday, May 1st. The financial services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.42). The business had revenue of $529.00 million for the quarter, compared to the consensus estimate of $509.30 million. Zillow Group had a negative net margin of 7.93% and a negative return on equity of 2.28%. During the same quarter last year, the firm posted ($0.06) EPS. Research analysts expect that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Activity at Zillow Group

In other news, Director Amy Bohutinsky sold 93,750 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the completion of the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at $320,411.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zillow Group news, insider Dan Spaulding sold 3,086 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.00, for a total transaction of $178,988.00. Following the completion of the sale, the insider now directly owns 48,294 shares in the company, valued at approximately $2,801,052. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Amy Bohutinsky sold 93,750 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the sale, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $320,411.88. The disclosure for this sale can be found here. Insiders have sold 171,289 shares of company stock valued at $9,642,508 over the last ninety days. Insiders own 23.76% of the company’s stock.

Institutional Trading of Zillow Group

Several large investors have recently added to or reduced their stakes in Z. Legacy Capital Group California Inc. increased its holdings in Zillow Group by 3.1% in the 4th quarter. Legacy Capital Group California Inc. now owns 8,794 shares of the financial services provider’s stock valued at $509,000 after acquiring an additional 264 shares during the last quarter. Level Four Advisory Services LLC increased its holdings in shares of Zillow Group by 0.9% in the fourth quarter. Level Four Advisory Services LLC now owns 33,058 shares of the financial services provider’s stock worth $1,913,000 after purchasing an additional 282 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Zillow Group by 3.2% in the third quarter. Daiwa Securities Group Inc. now owns 9,236 shares of the financial services provider’s stock worth $426,000 after buying an additional 290 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Zillow Group by 0.5% during the first quarter. Commonwealth Equity Services LLC now owns 86,527 shares of the financial services provider’s stock valued at $4,221,000 after buying an additional 403 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in Zillow Group by 9.6% during the 3rd quarter. Van ECK Associates Corp now owns 4,715 shares of the financial services provider’s stock valued at $218,000 after buying an additional 412 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

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.