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

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

Z has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price 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. Jefferies Financial Group boosted their price target on shares of Zillow Group from $70.00 to $75.00 and gave the stock a buy rating in a research note on Monday, March 4th. Finally, Needham & Company LLC reiterated a hold rating on shares of Zillow Group in a research note on Thursday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $56.20.

Zillow Group Stock Up 2.1 %

Shares of Z stock opened at $40.69 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.32 and a quick ratio of 3.24. Zillow Group has a one year low of $33.80 and a one year high of $61.13. The company’s fifty day moving average price is $48.55 and its 200-day moving average price is $48.88. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of -58.97 and a beta of 1.79.

Zillow Group (NASDAQ:Z) last released its earnings results on Wednesday, May 1st. The financial services provider reported ($0.06) earnings per share 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 for the quarter, compared to analysts’ expectations of $509.30 million. During the same quarter last year, the firm posted ($0.06) EPS. Sell-side analysts expect that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Transactions at Zillow Group

In other news, insider Errol G. Samuelson sold 4,219 shares of the business’s stock in a transaction dated 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 approximately $8,375,604.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Errol G. Samuelson sold 4,219 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total transaction of $209,262.40. Following the transaction, the insider now directly owns 168,863 shares in the company, valued at approximately $8,375,604.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 transaction, the director now owns 5,652 shares in the company, valued at $320,411.88. The disclosure for this sale can be found here. Insiders have sold a total of 171,289 shares of company stock worth $9,642,508 in the last three months. Insiders own 23.76% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in Zillow Group during the 4th quarter valued at about $25,000. Concord Wealth Partners purchased a new stake in Zillow Group in the 1st quarter valued at about $26,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Zillow Group in the 3rd quarter valued at about $33,000. Montag A & Associates Inc. purchased a new stake in Zillow Group in the 3rd quarter valued at about $37,000. Finally, Fidelis Capital Partners LLC purchased a new stake in Zillow Group in the 1st quarter valued at about $37,000. 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.