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

Zillow Group, Inc. (NASDAQ:Z) has received an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $70.33.

A number of brokerages recently commented on Z. Craig Hallum raised shares of Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Bank of America lifted 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. UBS Group raised Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $50.00 to $80.00 in a research report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 9th.

Zillow Group Price Performance

Zillow Group stock opened at $83.77 on Friday. Zillow Group has a 52-week low of $38.45 and a 52-week high of $84.75. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average is $65.33 and its 200 day moving average is $54.04. The company has a market cap of $19.57 billion, a price-to-earnings ratio of -146.96 and a beta of 1.95.

Insider Transactions at Zillow Group

In other news, COO Jun Choo sold 10,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $75.10, for a total transaction of $751,000.00. Following the transaction, the chief operating officer now owns 88,130 shares of the company’s stock, valued at approximately $6,618,563. This represents a 10.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Errol G. Samuelson sold 17,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 22,739 shares in the company, valued at approximately $1,672,908.23. This represents a 42.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,419 shares of company stock worth $11,371,413. Insiders own 23.76% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Several hedge funds have recently modified their holdings of Z. Chiron Investment Management LLC acquired a new position in shares of Zillow Group during the third quarter worth $1,291,000. Synergy Financial Group LTD purchased a new position in Zillow Group during the 3rd quarter worth $223,000. Groupama Asset Managment purchased a new position in Zillow Group during the 3rd quarter worth $83,005,000. Nomura Asset Management Co. Ltd. increased its position in Zillow Group by 15.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 45,760 shares of the financial services provider’s stock valued at $2,922,000 after buying an additional 6,000 shares in the last quarter. Finally, XTX Topco Ltd raised its stake in Zillow Group by 34.9% in the third quarter. XTX Topco Ltd now owns 14,083 shares of the financial services provider’s stock valued at $899,000 after buying an additional 3,647 shares during the last quarter. Hedge funds and other institutional investors 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.