Zillow Group (NASDAQ:Z) Stock Rating Reaffirmed as Hold by Needham & Company LLC

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

Several other equities analysts have also recently commented on the stock. Jefferies Financial Group dropped their target price on shares of Zillow Group from $75.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Sanford C. Bernstein cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. lowered their price objective on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Morgan Stanley cut their target price on Zillow Group from $60.00 to $35.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Zillow Group in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $57.71.

Zillow Group Price Performance

Z traded down $0.74 during trading on Thursday, reaching $29.55. The company had a trading volume of 3,724,112 shares, compared to its average volume of 4,555,124. The company has a market cap of $6.65 billion, a P/E ratio of -56.83, a PEG ratio of 1.38 and a beta of 1.98. Zillow Group has a 12 month low of $26.67 and a 12 month high of $77.07. The business’s fifty day moving average price is $30.81 and its 200 day moving average price is $38.26.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). The business had revenue of $724.00 million for the quarter, compared to the consensus estimate of $753.54 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. As a group, sell-side analysts predict that Zillow Group will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jeremy Hofmann sold 5,661 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $193,492.98. Following the sale, the chief financial officer owned 59,144 shares of the company’s stock, valued at $2,021,541.92. The trade was a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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. Also, CEO Jeremy Wacksman sold 9,339 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total transaction of $319,207.02. Following the completion of the sale, the chief executive officer directly owned 138,574 shares in the company, valued at approximately $4,736,459.32. The trade was a 6.31% 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. Over the last ninety days, insiders have sold 38,539 shares of company stock valued at $1,323,800. 25.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zillow Group

Large investors have recently bought and sold shares of the stock. Fortitude Family Office LLC bought a new stake in shares of Zillow Group during the 3rd quarter valued at about $27,000. Jacobi Capital Management LLC bought a new position in Zillow Group in the third quarter worth about $33,000. Root Financial Partners LLC purchased a new stake in Zillow Group in the third quarter worth about $34,000. Covestor Ltd lifted its holdings in Zillow Group by 146.9% in the third quarter. Covestor Ltd now owns 1,296 shares of the financial services provider’s stock worth $35,000 after buying an additional 771 shares during the period. Finally, Heritage Family Offices LLP purchased a new stake in Zillow Group in the third quarter worth about $45,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Company Profile

Zillow Group, Inc (NASDAQ: Z) operates a digital real estate marketplace in the United States. Its platforms help consumers search for homes, research neighborhoods and market conditions, connect with real estate professionals, and manage various steps in the home-buying, selling, renting and financing processes.

The company’s portfolio includes Zillow, Trulia, StreetEasy and HotPads, which provide property listings and real estate information. Zillow Group also offers services for real estate professionals, including marketing, lead generation, transaction management and showing coordination through products such as Zillow Premier Agent and ShowingTime+.

Through Zillow Home Loans and other affiliated services, the company provides or facilitates mortgage and closing-related solutions.