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

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

A number of other equities analysts have also weighed in on Z. Cantor Fitzgerald raised Zillow Group to a “hold” rating in a research report on Thursday, September 5th. Bank of America upped their target price on Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. UBS Group raised Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Craig Hallum raised Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group increased their price target on Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

Zillow Group Stock Performance

Shares of Z stock opened at $73.89 on Thursday. The stock has a market capitalization of $17.10 billion, a PE ratio of -129.63 and a beta of 1.95. Zillow Group has a one year low of $35.44 and a one year high of $74.55. The business’s 50 day simple moving average is $61.57 and its 200 day simple moving average is $52.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 2.12.

Insider Activity at Zillow Group

In related news, CAO Jennifer Rock sold 3,208 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $52.84, for a total transaction of $169,510.72. Following the transaction, the chief accounting officer now directly owns 76,486 shares of the company’s stock, valued at approximately $4,041,520.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Zillow Group news, Director Amy Bohutinsky sold 20,625 shares of Zillow Group stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total value of $1,386,618.75. Following the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at $379,983.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer Rock sold 3,208 shares of Zillow Group stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $52.84, for a total value of $169,510.72. Following the completion of the transaction, the chief accounting officer now directly owns 76,486 shares in the company, valued at $4,041,520.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,596 shares of company stock valued at $3,938,581. Corporate insiders own 23.76% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Dorsal Capital Management LP increased its position in Zillow Group by 59.8% during the second quarter. Dorsal Capital Management LP now owns 3,100,000 shares of the financial services provider’s stock valued at $143,809,000 after acquiring an additional 1,160,000 shares during the last quarter. Natixis bought a new position in shares of Zillow Group in the first quarter worth about $41,129,000. Coronation Fund Managers Ltd. boosted its stake in shares of Zillow Group by 238.9% in the second quarter. Coronation Fund Managers Ltd. now owns 864,733 shares of the financial services provider’s stock worth $40,115,000 after acquiring an additional 609,575 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Zillow Group by 8,162.8% in the third quarter. International Assets Investment Management LLC now owns 246,397 shares of the financial services provider’s stock worth $15,732,000 after acquiring an additional 243,415 shares during the period. Finally, Capital World Investors boosted its stake in Zillow Group by 2.8% during the first quarter. Capital World Investors now owns 8,846,232 shares of the financial services provider’s stock valued at $431,519,000 after buying an additional 238,554 shares during the last quarter. Hedge funds and other 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.