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

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

Several other equities analysts also recently weighed in on Z. JPMorgan Chase & Co. raised their price target on shares of Zillow Group from $46.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Jefferies Financial Group raised their price objective on shares of Zillow Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $58.75.

Zillow Group Stock Performance

NASDAQ:Z opened at $41.89 on Thursday. The company’s 50-day moving average price is $49.08 and its 200-day moving average price is $48.91. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.22. The company has a market cap of $9.78 billion, a P/E ratio of -61.60 and a beta of 1.79. Zillow Group has a twelve month low of $33.80 and a twelve month high of $61.13.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Tuesday, February 13th. The financial services provider reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.06. The firm had revenue of $474.00 million for the quarter, compared to the consensus estimate of $450.75 million. Zillow Group had a negative net margin of 8.12% and a negative return on equity of 2.32%. On average, sell-side analysts forecast that Zillow Group will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In related news, insider Errol G. Samuelson sold 4,219 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total value of $209,262.40. Following the sale, the insider now directly owns 168,863 shares in the company, valued at approximately $8,375,604.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Zillow Group news, insider Errol G. Samuelson sold 4,219 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $49.60, for a total value of $209,262.40. Following the transaction, the insider now directly owns 168,863 shares in the company, valued at approximately $8,375,604.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Amy Bohutinsky sold 93,750 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the completion of the transaction, the director now owns 5,652 shares in the company, valued at $320,411.88. The disclosure for this sale can be found here. Insiders have sold a total of 171,289 shares of company stock valued at $9,642,508 in the last ninety days. 23.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of Z. Legacy Capital Group California Inc. increased its position in Zillow Group by 3.1% during the 4th quarter. Legacy Capital Group California Inc. now owns 8,794 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 264 shares in the last quarter. Level Four Advisory Services LLC increased its position in Zillow Group by 0.9% during the 4th quarter. Level Four Advisory Services LLC now owns 33,058 shares of the financial services provider’s stock worth $1,913,000 after purchasing an additional 282 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Zillow Group by 3.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 9,236 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 290 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Zillow Group by 0.5% in the first quarter. Commonwealth Equity Services LLC now owns 86,527 shares of the financial services provider’s stock valued at $4,221,000 after acquiring an additional 403 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Zillow Group by 9.6% in the third quarter. Van ECK Associates Corp now owns 4,715 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 412 shares in the last quarter. 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.