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

Zillow Group (NASDAQ:Z - Free Report) had its price target lowered by JPMorgan Chase & Co. from $65.00 to $61.00 in a report issued on Thursday, Benzinga reports. The firm currently has an overweight rating on the financial services provider's stock.

Z has been the topic of several other reports. Wedbush decreased their price target on shares of Zillow Group from $60.00 to $50.00 and set a neutral rating on the stock in a research report on Thursday. Needham & Company LLC restated a hold rating on shares of Zillow Group in a research report on Thursday. Finally, Jefferies Financial Group raised their price target on shares of Zillow Group from $70.00 to $75.00 and gave the stock a buy rating in a research report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $56.20.

Zillow Group Stock Down 4.9 %

Shares of Z traded down $2.05 during mid-day trading on Thursday, hitting $39.84. 11,236,929 shares of the company's stock were exchanged, compared to its average volume of 3,928,734. The firm has a fifty day moving average of $49.08 and a two-hundred day moving average of $48.91. Zillow Group has a twelve month low of $33.80 and a twelve month high of $61.13. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of -58.00 and a beta of 1.79. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.22.

Zillow Group (NASDAQ:Z - Get Free Report) last posted its earnings results on Wednesday, May 1st. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.42). Zillow Group had a negative net margin of 8.12% and a negative return on equity of 2.32%. 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 posted ($0.06) earnings per share. On average, sell-side analysts forecast that Zillow Group will post -0.18 earnings per share for the current year.

Insider Activity

In other Zillow Group news, insider Dan Spaulding sold 5,114 shares of the business's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $55.45, for a total value of $283,571.30. Following the sale, the insider now owns 43,180 shares in the company, valued at approximately $2,394,331. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Dan Spaulding sold 5,114 shares of the business's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $55.45, for a total transaction of $283,571.30. Following the transaction, the insider now directly owns 43,180 shares of the company's stock, valued at approximately $2,394,331. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Bradley D. Owens sold 966 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total value of $56,037.66. Following the transaction, the general counsel now directly owns 17,181 shares in the company, valued at $996,669.81. The disclosure for this sale can be found here. Insiders have sold 171,289 shares of company stock worth $9,642,508 in the last 90 days. Corporate insiders own 23.76% of the company's stock.

Institutional Trading of Zillow Group

Institutional investors have recently added to or reduced their stakes in the company. Legacy Capital Group California Inc. lifted its position in shares of Zillow Group by 3.1% during the 4th quarter. Legacy Capital Group California Inc. now owns 8,794 shares of the financial services provider's stock valued at $509,000 after acquiring an additional 264 shares during the period. Level Four Advisory Services LLC lifted its position in shares of Zillow Group by 0.9% during the 4th quarter. Level Four Advisory Services LLC now owns 33,058 shares of the financial services provider's stock worth $1,913,000 after buying an additional 282 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Zillow Group by 3.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 9,236 shares of the financial services provider's stock worth $426,000 after buying an additional 290 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Zillow Group by 0.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 86,527 shares of the financial services provider's stock worth $4,221,000 after buying an additional 403 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Zillow Group by 9.6% during the 3rd quarter. Van ECK Associates Corp now owns 4,715 shares of the financial services provider's stock worth $218,000 after buying an additional 412 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

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.