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

Needham & Company LLC reiterated their hold rating on shares of Zillow Group (NASDAQ:Z - Free Report) in a research note issued to investors on Thursday, Benzinga reports.

Several other research analysts also recently issued reports on Z. Jefferies Financial Group upped their price objective on Zillow Group from $70.00 to $75.00 and gave the company a buy rating in a research note on Monday, March 4th. JPMorgan Chase & Co. increased their target price on shares of Zillow Group from $46.00 to $65.00 and gave the company an overweight rating in a research report on Friday, January 26th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Zillow Group currently has a consensus rating of Hold and an average target price of $56.20.

Zillow Group Price Performance

Z traded down $2.05 on Thursday, hitting $39.84. 11,236,929 shares of the stock were exchanged, compared to its average volume of 3,928,734. Zillow Group has a 12 month low of $33.80 and a 12 month high of $61.13. The business has a 50-day moving average of $48.81 and a two-hundred day moving average of $48.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.24 and a quick ratio of 3.24. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of -58.59 and a beta of 1.79.

Zillow Group (NASDAQ:Z - Get Free Report) last posted its earnings results on Wednesday, May 1st. The financial services provider reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.42). The company had revenue of $529.00 million during the quarter, compared to the consensus estimate of $509.30 million. Zillow Group had a negative return on equity of 2.32% and a negative net margin of 8.12%. During the same period last year, the company posted ($0.06) EPS. Sell-side analysts forecast that Zillow Group will post -0.18 EPS for the current fiscal year.

Insider Activity

In related news, insider Dan Spaulding sold 3,086 shares of Zillow Group stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.00, for a total value of $178,988.00. Following the completion of the sale, the insider now owns 48,294 shares of the company's stock, valued at approximately $2,801,052. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Zillow Group news, Director Amy Bohutinsky sold 93,750 shares of Zillow Group stock in a transaction dated Monday, March 4th. The stock was 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 of the company's stock, valued at approximately $320,411.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dan Spaulding sold 3,086 shares of Zillow Group stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $58.00, for a total value of $178,988.00. Following the transaction, the insider now directly owns 48,294 shares of the company's stock, valued at approximately $2,801,052. The disclosure for this sale can be found here. Insiders 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 insiders.

Institutional Trading of Zillow Group

A number of large investors have recently modified their holdings of Z. Daiwa Securities Group Inc. increased its stake in shares of Zillow Group by 8.7% during the first quarter. Daiwa Securities Group Inc. now owns 10,036 shares of the financial services provider's stock valued at $490,000 after buying an additional 800 shares during the period. Nordea Investment Management AB increased its stake in shares of Zillow Group by 10.3% during the first quarter. Nordea Investment Management AB now owns 10,721 shares of the financial services provider's stock valued at $534,000 after buying an additional 1,003 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of Zillow Group during the first quarter valued at approximately $37,000. Iridian Asset Management LLC CT increased its stake in shares of Zillow Group by 30.6% during the first quarter. Iridian Asset Management LLC CT now owns 34,420 shares of the financial services provider's stock valued at $1,679,000 after buying an additional 8,073 shares during the period. Finally, Concord Wealth Partners purchased a new position in shares of Zillow Group during the first quarter valued at approximately $26,000. Institutional investors own 71.01% of the company's stock.

Zillow Group Company Profile

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.