JPMorgan Chase & Co. Trims Zillow Group (NASDAQ:Z) Target Price to $61.00

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

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group raised their price target on Zillow Group from $70.00 to $75.00 and gave the company a buy rating in a research report on Monday, March 4th. Wedbush lowered 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 reiterated a hold rating on shares of Zillow Group in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Zillow Group has a consensus rating of Hold and a consensus price target of $56.20.

Zillow Group Stock Up 2.1 %

Z opened at $40.69 on Thursday. The company has a market capitalization of $9.50 billion, a PE ratio of -58.97 and a beta of 1.79. The business has a 50-day moving average of $48.55 and a 200-day moving average of $48.94. Zillow Group has a fifty-two week low of $33.80 and a fifty-two week high of $61.13. 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 (NASDAQ:Z) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.36 by ($0.42). Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. The business had revenue of $529.00 million for the quarter, compared to analyst estimates of $509.30 million. During the same quarter last year, the company earned ($0.06) EPS. Equities research analysts forecast that Zillow Group will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zillow Group news, insider Errol G. Samuelson sold 4,219 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $49.60, for a total transaction of $209,262.40. Following the transaction, the insider now owns 168,863 shares of the company’s stock, valued at approximately $8,375,604.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Amy Bohutinsky sold 93,750 shares of Zillow Group 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 sale, the director now owns 5,652 shares in the company, valued at approximately $320,411.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $209,262.40. Following the completion of the transaction, the insider now 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 three months, insiders sold 171,289 shares of company stock valued at $9,642,508. Insiders own 23.76% of the company’s stock.

Institutional Inflows and Outflows

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