Bank of America Increases Zillow Group (NASDAQ:Z) Price Target to $88.00

Key Points

• Bank of America has increased its price target for Zillow Group's stock from $81.00 to $88.00, maintaining a "neutral" rating amidst varying opinions from other analysts.
• Other notable adjustments include JPMorgan Chase & Co. lowering their target from $93.00 to $79.00 and Wedbush reiterating an "outperform" rating with a target of $100.00.
• Currently, Zillow Group stock has a market capitalization of $20.57 billion and a 1-year price range of $41.67 to $89.39, indicating significant volatility.

Zillow Group (NASDAQ:Z - Get Free Report) had its price target upped by stock analysts at Bank of America from $81.00 to $88.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. Bank of America's price objective points to a potential upside of 3.31% from the company's current price.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Zillow Group from $93.00 to $79.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. William Blair initiated coverage on Zillow Group in a report on Monday, April 21st. They issued a "market perform" rating for the company. Wells Fargo & Company raised Zillow Group to a "hold" rating in a research note on Monday, April 28th. Wedbush reiterated an "outperform" rating and issued a $100.00 price objective on shares of Zillow Group in a research note on Monday, May 5th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.14.

Zillow Group Price Performance

Shares of Z opened at $85.18 on Thursday. The firm has a 50-day simple moving average of $73.96 and a two-hundred day simple moving average of $72.67. The stock has a market cap of $20.57 billion, a PE ratio of -250.53, a P/E/G ratio of 15.24 and a beta of 2.09. Zillow Group has a 1-year low of $41.67 and a 1-year high of $89.39.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, Director Gordon Sheridan Stephenson sold 10,000 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $70.69, for a total transaction of $706,900.00. Following the sale, the director directly owned 28,290 shares in the company, valued at approximately $1,999,820.10. The trade was a 26.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeremy Hofmann sold 7,959 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $549,011.82. Following the completion of the transaction, the chief financial officer owned 97,481 shares of the company's stock, valued at approximately $6,724,239.38. This represents a 7.55% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,371 shares of company stock worth $5,775,204. Company insiders own 25.03% of the company's stock.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in Z. TB Alternative Assets Ltd. increased its stake in shares of Zillow Group by 49.0% during the 1st quarter. TB Alternative Assets Ltd. now owns 570,913 shares of the financial services provider's stock valued at $39,142,000 after acquiring an additional 187,671 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Zillow Group by 67.0% during the 1st quarter. Cerity Partners LLC now owns 20,475 shares of the financial services provider's stock worth $1,404,000 after purchasing an additional 8,215 shares during the period. Alberta Investment Management Corp purchased a new stake in Zillow Group during the first quarter worth approximately $3,661,000. G&S Capital LLC raised its stake in shares of Zillow Group by 132.2% in the 1st quarter. G&S Capital LLC now owns 33,933 shares of the financial services provider's stock valued at $2,326,000 after acquiring an additional 19,319 shares during the period. Finally, Tredje AP fonden increased its holdings in Zillow Group by 12.7% in the 1st quarter. Tredje AP fonden now owns 126,332 shares of the financial services provider's stock valued at $8,661,000 after purchasing an additional 14,191 shares in 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.

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