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

Zillow Group (NASDAQ:Z) had its price target cut by investment analysts at JPMorgan Chase & Co. from $65.00 to $61.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 54.70% from the stock’s previous close.

A number of other equities research analysts also recently commented on Z. Wedbush reduced their target price on Zillow Group from $60.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday. Jefferies Financial Group boosted their price objective on shares of Zillow Group from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Finally, Needham & Company LLC reaffirmed 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 issued a buy rating to the stock. Based on data from MarketBeat, Zillow Group presently has an average rating of “Hold” and a consensus price target of $56.20.

Zillow Group Stock Down 5.9 %

Shares of NASDAQ:Z traded down $2.46 during trading on Thursday, hitting $39.43. 6,308,754 shares of the company were exchanged, compared to its average volume of 3,870,540. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.24 and a quick ratio of 3.24. Zillow Group has a 12-month low of $33.80 and a 12-month high of $61.13. The firm’s 50 day moving average price is $49.08 and its 200-day moving average price is $48.91. The stock has a market capitalization of $9.21 billion, a P/E ratio of -58.00 and a beta of 1.79.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.42). The company had revenue of $529.00 million for the quarter, compared to analyst estimates of $509.30 million. Zillow Group had a negative return on equity of 2.32% and a negative net margin of 8.12%. During the same period in the prior year, the business earned ($0.06) earnings per share. On average, research analysts predict that Zillow Group will post -0.18 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In other news, General Counsel Bradley D. Owens sold 966 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total transaction of $56,037.66. Following the completion of the transaction, the general counsel now owns 17,181 shares of the company’s stock, valued at approximately $996,669.81. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, General Counsel Bradley D. Owens sold 966 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total transaction of $56,037.66. Following the completion of the sale, the general counsel now directly owns 17,181 shares of the company’s stock, valued at approximately $996,669.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $209,262.40. Following the sale, the insider now owns 168,863 shares of the company’s stock, valued at $8,375,604.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,289 shares of company stock worth $9,642,508. 23.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zillow Group

Several institutional investors have recently bought and sold shares of the business. Legacy Capital Group California Inc. boosted its position in shares of Zillow Group by 3.1% in the fourth quarter. Legacy Capital Group California Inc. now owns 8,794 shares of the financial services provider’s stock worth $509,000 after buying an additional 264 shares during the period. Level Four Advisory Services LLC boosted its holdings in Zillow Group by 0.9% in 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 acquiring an additional 282 shares during the period. Daiwa Securities Group Inc. grew its position in Zillow Group by 3.2% in the third quarter. Daiwa Securities Group Inc. now owns 9,236 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 290 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Zillow Group by 0.5% during the first quarter. Commonwealth Equity Services LLC now owns 86,527 shares of the financial services provider’s stock valued at $4,221,000 after purchasing an additional 403 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Zillow Group by 9.6% during the third quarter. Van ECK Associates Corp now owns 4,715 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 412 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

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.