Zillow Group’s (Z) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Zillow Group (NASDAQ:Z) in a report published on Friday morning,Benzinga reports.

Other research analysts have also issued reports about the company. Weiss Ratings reissued a “sell (d)” rating on shares of Zillow Group in a research report on Wednesday, August 19th. Evercore downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Sanford C. Bernstein downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Jefferies Financial Group cut their target price on Zillow Group from $75.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. cut their target price on Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Zillow Group has a consensus rating of “Hold” and an average price target of $57.71.

Zillow Group Stock Performance

Shares of Z opened at $30.82 on Friday. The company has a 50 day moving average price of $31.82 and a 200-day moving average price of $34.95. Zillow Group has a fifty-two week low of $26.67 and a fifty-two week high of $79.40. The stock has a market capitalization of $6.93 billion, a PE ratio of 140.10, a PEG ratio of 1.36 and a beta of 2.04.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. The company had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.10 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. Equities research analysts forecast that Zillow Group will post 0.88 EPS for the current year.

Insider Activity

In related news, Director Erik Blachford sold 792 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total transaction of $28,282.32. Following the transaction, the director directly owned 34,160 shares of the company’s stock, valued at $1,219,853.60. This represents a 2.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Hofmann sold 5,661 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the sale, the chief financial officer owned 59,144 shares of the company’s stock, valued at approximately $2,021,541.92. This trade represents a 8.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 38,539 shares of company stock worth $1,323,800. Company insiders own 23.76% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its stake in Zillow Group by 106.8% in the first quarter. The Manufacturers Life Insurance Company now owns 41,519 shares of the financial services provider’s stock worth $1,718,000 after acquiring an additional 21,439 shares during the last quarter. Tiger Global Management LLC boosted its holdings in shares of Zillow Group by 21.7% in the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock valued at $304,927,000 after buying an additional 1,312,000 shares in the last quarter. Emmett Investment Management LP boosted its holdings in shares of Zillow Group by 353.9% in the 1st quarter. Emmett Investment Management LP now owns 96,236 shares of the financial services provider’s stock valued at $3,897,000 after buying an additional 75,036 shares in the last quarter. Weiss Asset Management LP purchased a new position in shares of Zillow Group in the 1st quarter valued at $1,743,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Zillow Group by 21.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,896,206 shares of the financial services provider’s stock valued at $78,461,000 after buying an additional 338,803 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc is a technology company that operates digital real estate marketplaces and related services in the United States. Its platforms help consumers search for homes to buy or rent, research neighborhoods and property values, connect with real estate professionals, and manage aspects of the transaction process.

The company’s portfolio includes Zillow, Trulia, StreetEasy and HotPads, along with services such as Zillow Premier Agent, Zillow Rentals, ShowingTime+ and Zillow Home Loans.