Zillow Group (Z) Downgraded to “Hold” at Morgan Stanley

Morgan Stanley lowered shares of Zillow Group (NASDAQ:Z) from an overweight rating to a hold rating in a report issued on Wednesday morning. The firm currently has $50.00 target price on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. BidaskClub downgraded Zillow Group from a hold rating to a sell rating in a report on Tuesday, January 23rd. Benchmark reiterated a buy rating and issued a $64.00 price target on shares of Zillow Group in a report on Friday, April 13th. KeyCorp set a $63.00 price target on Zillow Group and gave the company a buy rating in a report on Thursday, April 12th. Cowen reiterated a hold rating on shares of Zillow Group in a report on Friday, February 9th. Finally, DA Davidson began coverage on Zillow Group in a report on Wednesday, April 4th. They issued a hold rating and a $60.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $53.23.

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Shares of NASDAQ Z opened at $48.81 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.11 and a current ratio of 7.11. Zillow Group has a fifty-two week low of $35.75 and a fifty-two week high of $59.99.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.09 EPS for the quarter. The company had revenue of $282.33 million for the quarter. Zillow Group had a positive return on equity of 0.03% and a negative net margin of 8.77%.

In other news, Vice Chairman Lloyd D. Frink sold 13,600 shares of the business’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $57.42, for a total value of $780,912.00. Following the completion of the transaction, the insider now owns 4,279,608 shares of the company’s stock, valued at approximately $245,735,091.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Amy Bohutinsky sold 27,783 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $45.39, for a total value of $1,261,070.37. Following the completion of the transaction, the chief operating officer now directly owns 27,783 shares of the company’s stock, valued at approximately $1,261,070.37. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 489,778 shares of company stock valued at $25,092,380. 21.72% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its stake in shares of Zillow Group by 6.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 328,974 shares of the financial services provider’s stock valued at $13,229,000 after purchasing an additional 19,561 shares in the last quarter. Swiss National Bank increased its stake in shares of Zillow Group by 1.8% in the 4th quarter. Swiss National Bank now owns 390,534 shares of the financial services provider’s stock valued at $15,981,000 after purchasing an additional 6,800 shares in the last quarter. Coatue Management LLC purchased a new position in shares of Zillow Group in the 4th quarter valued at about $13,807,000. First Republic Investment Management Inc. increased its stake in shares of Zillow Group by 9.2% in the 4th quarter. First Republic Investment Management Inc. now owns 17,900 shares of the financial services provider’s stock valued at $733,000 after purchasing an additional 1,508 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Zillow Group by 8.6% in the 4th quarter. Bank of Montreal Can now owns 64,438 shares of the financial services provider’s stock valued at $2,637,000 after purchasing an additional 5,111 shares in the last quarter. 58.62% of the stock is owned by institutional investors and hedge funds.

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About Zillow Group

Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable consumers find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

Analyst Recommendations for Zillow Group (NASDAQ:Z)

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