Zillow Group, Inc. (Z) Lowered to Equal Weight at Morgan Stanley
Zillow Group, Inc. (NYSE:Z) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Friday. They currently have a $39.00 price target on the stock. Morgan Stanley’s price objective indicates a potential upside of 3.81% from the stock’s current price.
Several other brokerages have also commented on Z. Canaccord Genuity restated a “buy” rating and set a $42.00 target price on shares of Zillow Group in a research report on Tuesday, October 4th. Stifel Nicolaus assumed coverage on Zillow Group in a research report on Thursday, December 22nd. They set a “hold” rating and a $36.00 target price on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Zillow Group presently has an average rating of “Hold” and a consensus target price of $38.00.
Zillow Group (NYSE:Z) traded up 1.73% on Friday, hitting $37.57. The company’s stock had a trading volume of 1,843,772 shares. The firm has a 50 day moving average of $36.70 and a 200-day moving average of $35.50. Zillow Group has a 12 month low of $15.36 and a 12 month high of $39.88. The stock’s market cap is $4544.39 billion.
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In other Zillow Group news, CEO Spencer M. Rascoff sold 22,400 shares of the stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $33.15, for a total value of $742,560.00. Following the transaction, the chief executive officer now owns 7,500 shares in the company, valued at $248,625. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
A number of hedge funds and other institutional investors have recently made changes to their positions in Z. First Trust Advisors LP raised its position in shares of Zillow Group by 16.9% in the third quarter. First Trust Advisors LP now owns 109,792 shares of the company’s stock valued at $3,804,000 after buying an additional 15,905 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Zillow Group by 2.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,757,410 shares of the company’s stock valued at $95,544,000 after buying an additional 73,694 shares during the last quarter. BlackRock Inc. raised its position in shares of Zillow Group by 4.0% in the third quarter. BlackRock Inc. now owns 113,986 shares of the company’s stock valued at $3,950,000 after buying an additional 4,406 shares during the last quarter. University of Notre Dame DU Lac purchased a new position in shares of Zillow Group during the third quarter valued at about $2,110,000. Finally, British Columbia Investment Management Corp raised its position in shares of Zillow Group by 135.3% in the third quarter. British Columbia Investment Management Corp now owns 91,078 shares of the company’s stock valued at $3,156,000 after buying an additional 52,379 shares during the last quarter.
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