Zillow Group (NASDAQ:Z) Price Target Raised to $94.00

Key Points

• JPMorgan Chase & Co. has raised its price target for Zillow Group from $79.00 to $94.00, reflecting an expected upside of 11.13% from the stock's previous close.
• Analysts maintain a generally positive outlook with a consensus price target of $88.29 and ratings varying from "hold" to "strong buy."
• Zillow Group's stock experienced a slight decline of 0.7%, trading at $84.59 with an average volume significantly impacted by recent trading activity.

Zillow Group (NASDAQ:Z - Get Free Report) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $79.00 to $94.00 in a report released on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 11.13% from the stock's previous close.

A number of other analysts have also issued reports on Z. Wedbush reiterated an "outperform" rating and set a $100.00 price objective on shares of Zillow Group in a research note on Monday, May 5th. Bank of America upped their target price on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research note on Thursday. Keefe, Bruyette & Woods dropped their target price on Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. Wells Fargo & Company raised shares of Zillow Group to a "hold" rating in a research report on Monday, April 28th. Finally, William Blair started coverage on shares of Zillow Group in a research report on Monday, April 21st. They issued a "market perform" rating on the stock. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $88.29.

Zillow Group Stock Down 0.7%

Shares of NASDAQ:Z traded down $0.60 during trading on Thursday, reaching $84.59. 3,949,302 shares of the company's stock traded hands, compared to its average volume of 2,643,977. Zillow Group has a fifty-two week low of $46.75 and a fifty-two week high of $89.39. The firm has a market cap of $20.42 billion, a PE ratio of -248.78, a P/E/G ratio of 15.24 and a beta of 2.09. The company has a 50-day simple moving average of $73.96 and a 200-day simple moving average of $72.67.

Insider Activity at Zillow Group

In other news, insider Dan Spaulding sold 5,534 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $68.98, for a total transaction of $381,735.32. Following the completion of the transaction, the insider directly owned 68,889 shares in the company, valued at $4,751,963.22. This represents a 7.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Erik C. Blachford sold 965 shares of Zillow Group stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $70.35, for a total transaction of $67,887.75. Following the sale, the director directly owned 35,474 shares in the company, valued at $2,495,595.90. This trade represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,371 shares of company stock worth $5,775,204 in the last three months. Insiders own 25.03% of the company's stock.

Institutional Investors Weigh In On Zillow Group

Hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc raised its position in shares of Zillow Group by 288.9% during the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock worth $31,000 after buying an additional 338 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Zillow Group by 352.0% during the second quarter. TD Private Client Wealth LLC now owns 452 shares of the financial services provider's stock worth $32,000 after purchasing an additional 352 shares during the last quarter. National Pension Service grew its position in shares of Zillow Group by 74.8% in the 1st quarter. National Pension Service now owns 577 shares of the financial services provider's stock valued at $40,000 after buying an additional 247 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Zillow Group by 47.7% in the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 196 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Zillow Group during the 1st quarter worth $49,000. 71.01% of the stock is currently owned by hedge funds and other 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.

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