Zillow Group’s (Z) “Hold” Rating Reaffirmed at Needham & Company LLC

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

Other research analysts also recently issued reports about the stock. Zacks Research downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen lowered shares of Zillow Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Zillow Group in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods dropped their price target on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a research note on Friday, August 7th. Finally, Sanford C. Bernstein lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $57.71.

Zillow Group Stock Up 11.0%

NASDAQ Z opened at $31.46 on Friday. The stock has a market cap of $7.07 billion, a PE ratio of 143.01, a P/E/G ratio of 1.25 and a beta of 2.04. Zillow Group has a fifty-two week low of $26.67 and a fifty-two week high of $79.40. The business has a 50 day moving average price of $31.88 and a two-hundred day moving average price of $35.02.

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 during the quarter, compared to the consensus estimate of $758.10 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. Sell-side analysts anticipate that Zillow Group will post 0.88 EPS for the current fiscal year.

Insider Activity at Zillow Group

In other Zillow Group news, Director Claire Cormier Thielke sold 1,187 shares of Zillow Group stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total transaction of $42,387.77. Following the sale, the director directly owned 2,375 shares in the company, valued at $84,811.25. The trade was a 33.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dan Spaulding sold 3,169 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $35.37, for a total value of $112,087.53. Following the completion of the transaction, the insider directly owned 44,561 shares in the company, valued at approximately $1,576,122.57. The trade was a 6.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 38,539 shares of company stock worth $1,323,800 over the last ninety days. Company insiders own 25.03% of the company’s stock.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently made changes to their positions in Z. The Manufacturers Life Insurance Company boosted its stake in Zillow Group by 106.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 41,519 shares of the financial services provider’s stock valued at $1,718,000 after acquiring an additional 21,439 shares during the last quarter. Tiger Global Management LLC increased its position 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 worth $304,927,000 after purchasing an additional 1,312,000 shares during the last quarter. Emmett Investment Management LP increased its position 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 worth $3,897,000 after purchasing an additional 75,036 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of Zillow Group in the 1st quarter valued at about $1,743,000. Finally, Dimensional Fund Advisors LP raised its stake 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 purchasing an additional 338,803 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

About Zillow Group

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.