Shares of Zillow Group (Z) Sees Large Outflow of Money

Zillow Group (Z) : Money flow in the Zillow Group (Z) stock was negative (6.52 million) on Wednesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $9.58 million, compared to $16.1 million on downticks. The total uptick to downtick ratio was 0.6, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($5.57 million), indicating selling on the strength. The transaction value during uptick in block trades was $5.42 million. Downtick transaction value in block trades amounted to $10.99 million, indicating persistent selling. The uptick to downtick ratio was 0.49. Zillow Group (Z) traded $0.54 higher at $38.05 gaining 1.44% over the previous days close.


Also, Morgan Stanley maintains its rating on Zillow Group (NASDAQ:Z). The global brokerage major raises the current price target from $34 per share to $40 per share. Analysts at the Morgan Stanley have a current rating of Overweight on the shares. The rating by the firm was issued on July 14, 2016.

Zillow Group (NASDAQ:Z): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $37.66 and $37.31 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $38.23. The buying momentum continued till the end and the stock did not give up its gains. It closed at $38.05, notching a gain of 1.44% for the day. The total traded volume was 1,455,189 . The stock had closed at $37.51 on the previous day.

The stock has recorded a 20-day Moving Average of 6.69% and the 50-Day Moving Average is 18.44%. In a related news, The Securities and Exchange Commission has divulged that Rascoff Spencer M, director officer (Chief Executive Officer) of Zillow Group, Inc., had unloaded 400 shares at an average price of $95.19 in a transaction dated on May 20, 2015. The total value of the transaction was worth $38,076.

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