Needham & Company LLC Reaffirms “Hold” Rating for Zillow Group (NASDAQ:Z)

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

Several other brokerages also recently weighed in on Z. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Zillow Group from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Morgan Stanley boosted their price objective on Zillow Group from $46.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Cantor Fitzgerald upgraded Zillow Group to a “hold” rating in a research report on Thursday, September 5th. UBS Group raised Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Bank of America upped their price objective on shares of Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

Zillow Group Stock Up 0.4 %

Shares of Z traded up $0.32 during trading on Thursday, reaching $72.95. The company’s stock had a trading volume of 1,870,334 shares, compared to its average volume of 3,769,542. The company has a market cap of $16.88 billion, a price-to-earnings ratio of -127.42 and a beta of 1.95. The company has a fifty day moving average of $61.20 and a two-hundred day moving average of $51.75. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. Zillow Group has a twelve month low of $35.44 and a twelve month high of $74.05.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.13. Zillow Group had a negative return on equity of 2.34% and a negative net margin of 6.17%. The business had revenue of $572.00 million during the quarter, compared to the consensus estimate of $539.74 million. On average, sell-side analysts predict that Zillow Group will post -0.33 EPS for the current fiscal year.

Insider Activity

In other news, insider Dan Spaulding sold 2,991 shares of Zillow Group stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $53.18, for a total value of $159,061.38. Following the transaction, the insider now directly owns 70,342 shares of the company’s stock, valued at $3,740,787.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Zillow Group news, insider Dan Spaulding sold 2,991 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total transaction of $159,061.38. Following the completion of the sale, the insider now directly owns 70,342 shares in the company, valued at approximately $3,740,787.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jeremy Hofmann sold 4,729 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $52.85, for a total transaction of $249,927.65. Following the sale, the chief financial officer now owns 118,394 shares of the company’s stock, valued at approximately $6,257,122.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,596 shares of company stock valued at $3,938,581 over the last three months. Insiders own 23.76% of the company’s stock.

Institutional Trading of Zillow Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Zillow Group by 400.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 400 shares during the period. V Square Quantitative Management LLC acquired a new position in Zillow Group in the third quarter worth about $35,000. Larson Financial Group LLC lifted its stake in Zillow Group by 364.4% during the second quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 481 shares during the period. Blue Trust Inc. boosted its holdings in Zillow Group by 66.3% during the third quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 313 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Zillow Group in the 2nd quarter valued at approximately $61,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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.