Zillow Group (NASDAQ:Z) Earns Hold Rating from Needham & Company LLC

Zillow Group (NASDAQ:Z)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports.

Several other equities research analysts have also commented on Z. Craig Hallum upgraded shares of Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Morgan Stanley lifted their target price 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. Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and upped their target price for the company from $50.00 to $80.00 in a research report on Monday, September 16th. Cantor Fitzgerald raised Zillow Group to a “hold” rating in a research report on Thursday, September 5th. Finally, UBS Group raised Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and an average target price of $70.33.

Zillow Group Stock Up 1.7 %

Shares of NASDAQ:Z opened at $73.89 on Thursday. Zillow Group has a fifty-two week low of $35.44 and a fifty-two week high of $74.55. The firm’s 50 day moving average price is $61.57 and its 200 day moving average price is $51.97. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.11. The stock has a market cap of $17.10 billion, a price-to-earnings ratio of -129.63 and a beta of 1.95.

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

Insider Activity

In related news, Director Thielke Claire Cormier sold 2,826 shares of Zillow Group stock in a transaction on Monday, September 16th. The stock was sold at an average price of $61.11, for a total transaction of $172,696.86. Following the completion of the transaction, the director now directly owns 2,826 shares of the company’s stock, valued at approximately $172,696.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Zillow Group news, Director Thielke Claire Cormier sold 2,826 shares of Zillow Group stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $61.11, for a total transaction of $172,696.86. Following the completion of the transaction, the director now owns 2,826 shares in the company, valued at approximately $172,696.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Susan Daimler sold 3,484 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total transaction of $188,763.12. Following the completion of the sale, the insider now directly owns 22,464 shares in the company, valued at $1,217,099.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 67,596 shares of company stock worth $3,938,581. Company insiders own 23.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in Z. Dorsal Capital Management LP lifted its stake in shares of Zillow Group by 59.8% during the 2nd quarter. Dorsal Capital Management LP now owns 3,100,000 shares of the financial services provider’s stock worth $143,809,000 after purchasing an additional 1,160,000 shares during the period. Natixis acquired a new position in Zillow Group in the first quarter valued at $41,129,000. Coronation Fund Managers Ltd. lifted its position in Zillow Group by 238.9% during the second quarter. Coronation Fund Managers Ltd. now owns 864,733 shares of the financial services provider’s stock worth $40,115,000 after buying an additional 609,575 shares during the period. International Assets Investment Management LLC boosted its stake in Zillow Group by 8,162.8% in the 3rd quarter. International Assets Investment Management LLC now owns 246,397 shares of the financial services provider’s stock worth $15,732,000 after buying an additional 243,415 shares during the last quarter. Finally, Capital World Investors grew its holdings in Zillow Group by 2.8% in the 1st quarter. Capital World Investors now owns 8,846,232 shares of the financial services provider’s stock valued at $431,519,000 after buying an additional 238,554 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

About Zillow Group

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.