Zillow Group (NASDAQ:Z) Price Target Lowered to $50.00 at Wedbush

Zillow Group (NASDAQ:Z) had its price target trimmed by Wedbush from $60.00 to $50.00 in a research note published on Thursday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on Z. Needham & Company LLC reaffirmed a hold rating on shares of Zillow Group in a report on Thursday. Jefferies Financial Group increased their price target on shares of Zillow Group from $70.00 to $75.00 and gave the company a buy rating in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Zillow Group from $46.00 to $65.00 and gave the company an overweight rating in a research note on Friday, January 26th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $56.20.

Zillow Group Stock Up 2.1 %

Shares of NASDAQ:Z opened at $40.69 on Thursday. Zillow Group has a fifty-two week low of $33.80 and a fifty-two week high of $61.13. 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 firm’s 50-day simple moving average is $48.55 and its 200-day simple moving average is $48.94. The company has a market cap of $9.50 billion, a price-to-earnings ratio of -58.97 and a beta of 1.79.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data 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). Zillow Group had a negative net margin of 7.93% and a negative return on equity of 2.28%. The firm had revenue of $529.00 million during the quarter, compared to analyst estimates of $509.30 million. During the same quarter in the previous year, the business earned ($0.06) EPS. As a group, equities research analysts predict that Zillow Group will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Errol G. Samuelson sold 4,219 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total value of $209,262.40. Following the sale, the insider now directly owns 168,863 shares in the company, valued at $8,375,604.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Jeremy Hofmann sold 7,813 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $54.76, for a total value of $427,839.88. Following the completion of the transaction, the chief financial officer now owns 137,347 shares of the company’s stock, valued at approximately $7,521,121.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Errol G. Samuelson sold 4,219 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total transaction of $209,262.40. Following the sale, the insider now directly owns 168,863 shares in the company, valued at $8,375,604.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 171,289 shares of company stock worth $9,642,508. Insiders own 23.76% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Zillow Group in the fourth quarter worth approximately $25,000. Concord Wealth Partners acquired a new position in Zillow Group during the first quarter worth approximately $26,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Zillow Group during the third quarter worth approximately $33,000. Montag A & Associates Inc. acquired a new position in shares of Zillow Group in the 3rd quarter valued at $37,000. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Zillow Group during the 1st quarter valued at $37,000. 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.