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

Key Points

• Needham reaffirmed its “Hold” rating on Zillow Group, while the broader analyst consensus remains “Hold” with an average price target of $57.71.
• Zillow reported quarterly earnings of $0.52 per share, beating expectations of $0.45, while revenue of $772 million also exceeded the $758.1 million consensus estimate.
• Zillow shares opened at $31.46, near the lower end of their 52-week range, with a market capitalization of $7.07 billion; insiders have sold 38,539 shares worth about $1.32 million over the past 90 days.

Zillow Group (NASDAQ:Z - Get Free Report)'s stock had its "hold" rating restated by equities researchers at Needham & Company LLC in a report issued on Friday, Benzinga reports.

Several other research analysts have also weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Zillow Group from $76.00 to $62.00 and set an "overweight" rating on the stock in a report on Tuesday, August 11th. Wall Street Zen cut shares of Zillow Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Keefe, Bruyette & Woods lowered their target price on shares of Zillow Group from $37.00 to $34.00 and set a "market perform" rating for the company in a report on Friday, August 7th. Morgan Stanley dropped their price target on shares of Zillow Group from $60.00 to $35.00 and set an "equal weight" rating for the company in a research report on Tuesday. Finally, Evercore lowered shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Zillow Group presently has an average rating of "Hold" and an average price target of $57.71.

Zillow Group Stock Performance

Shares of NASDAQ Z opened at $31.46 on Friday. The firm has a market cap of $7.07 billion, a P/E ratio of 143.01, a price-to-earnings-growth ratio of 1.25 and a beta of 2.04. Zillow Group has a 1 year low of $26.67 and a 1 year high of $79.40. The firm's 50 day moving average price is $31.88 and its 200 day moving average price is $35.02.

Zillow Group (NASDAQ:Z - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. The company had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.10 million. As a group, equities analysts predict that Zillow Group will post 0.88 EPS for the current year.

Insider Buying and Selling at Zillow Group

In other news, insider Dan Spaulding sold 3,169 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $35.37, for a total transaction of $112,087.53. Following the completion of the sale, the insider owned 44,561 shares in the company, valued at approximately $1,576,122.57. The trade was a 6.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Claire Cormier Thielke sold 1,187 shares of the 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 of the company's stock, valued at approximately $84,811.25. This trade represents a 33.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 38,539 shares of company stock worth $1,323,800. Company insiders own 25.03% of the company's stock.

Institutional Investors Weigh In On Zillow Group

Several large investors have recently made changes to their positions in the business. Fortitude Family Office LLC acquired a new position in shares of Zillow Group during the 3rd quarter valued at $27,000. Leonteq Securities AG boosted its position in Zillow Group by 627.0% during the 1st quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider's stock worth $56,000 after purchasing an additional 1,160 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Zillow Group by 283.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 1,045 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Zillow Group in the 2nd quarter valued at $78,000. Finally, NFSG Corp purchased a new position in Zillow Group in the third quarter valued at about $98,000. Institutional investors and hedge funds own 71.01% of the company's stock.

Zillow Group Company Profile

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.

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