Morgan Stanley Trims Zillow Group (NASDAQ:ZG) Target Price to $42.00

Zillow Group (NASDAQ:ZG – Get Rating) had its target price trimmed by Morgan Stanley to $42.00 in a research report report published on Friday, Stock Target Advisor reports.

Several other brokerages have also commented on ZG. KeyCorp started coverage on Zillow Group in a report on Tuesday, July 12th. They set a sector weight rating and a $35.00 price objective for the company. The Goldman Sachs Group assumed coverage on Zillow Group in a research note on Wednesday, March 30th. They issued a neutral rating and a $57.00 target price for the company. Susquehanna Bancshares cut their price target on Zillow Group from $62.00 to $41.00 in a research report on Monday, May 9th. JMP Securities reaffirmed a mkt perform rating on shares of Zillow Group in a research report on Thursday, June 9th. Finally, Susquehanna dropped their target price on Zillow Group from $62.00 to $41.00 in a research report on Monday, May 9th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Zillow Group presently has a consensus rating of Hold and a consensus price target of $69.13.

Zillow Group Trading Down 3.2 %

Shares of ZG opened at $36.45 on Friday. Zillow Group has a twelve month low of $28.76 and a twelve month high of $114.07. The company has a market cap of $8.98 billion, a P/E ratio of -16.42 and a beta of 1.54. The company has a current ratio of 3.98, a quick ratio of 3.57 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $35.99 and its 200-day simple moving average is $44.63.

Zillow Group (NASDAQ:ZG – Get Rating) last announced its earnings results on Thursday, May 5th. The technology company reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.26. The business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $3.39 billion. Zillow Group had a negative net margin of 5.04% and a negative return on equity of 7.61%. The business’s revenue for the quarter was up 249.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. As a group, analysts expect that Zillow Group will post 0.84 EPS for the current year.

Insiders Place Their Bets

In other Zillow Group news, COO Jeremy Wacksman sold 4,785 shares of Zillow Group stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $35.00, for a total value of $167,475.00. Following the transaction, the chief operating officer now directly owns 43,132 shares in the company, valued at approximately $1,509,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Dan Spaulding sold 4,000 shares of the firm’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $38.13, for a total value of $152,520.00. Following the completion of the sale, the insider now owns 27,936 shares in the company, valued at $1,065,199.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeremy Wacksman sold 4,785 shares of the firm’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $35.00, for a total transaction of $167,475.00. Following the completion of the sale, the chief operating officer now owns 43,132 shares of the company’s stock, valued at approximately $1,509,620. The disclosure for this sale can be found here. Insiders have sold a total of 28,641 shares of company stock valued at $1,146,023 over the last quarter. Company insiders own 18.52% of the company’s stock.

Institutional Trading of Zillow Group

Several hedge funds and other institutional investors have recently made changes to their positions in ZG. Sphinx Trading LP purchased a new position in Zillow Group during the 4th quarter valued at about $25,000. Quadrant Capital Group LLC increased its holdings in Zillow Group by 69.5% during the 4th quarter. Quadrant Capital Group LLC now owns 678 shares of the technology company’s stock valued at $42,000 after acquiring an additional 278 shares in the last quarter. Samalin Investment Counsel LLC purchased a new position in Zillow Group during the 4th quarter valued at about $62,000. Atticus Wealth Management LLC purchased a new position in Zillow Group during the 1st quarter valued at about $48,000. Finally, PNC Financial Services Group Inc. increased its holdings in Zillow Group by 69.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the technology company’s stock valued at $53,000 after acquiring an additional 441 shares in the last quarter. Institutional investors and hedge funds own 20.82% of the company’s stock.

Zillow Group Company Profile

(Get Rating)

Zillow Group, Inc, a digital real estate company, operates real estate brands on mobile applications and Websites in the United States. The company operates through three segments: Homes; Internet, Media & Technology; and Mortgages. The Homes segment is involved in resale of homes; and title and escrow services to home buyers and sellers, including title search procedures for title insurance policies, escrow, and other closing services.