Zillow Group (NASDAQ:Z) Hits New 12-Month Low – Time to Sell?

Zillow Group, Inc. (NASDAQ:Z)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $57.14 and last traded at $58.0670, with a volume of 2987984 shares changing hands. The stock had previously closed at $58.94.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Exane BNP Paribas upgraded Zillow Group to a “strong-buy” rating in a research note on Wednesday, January 14th. Barclays upgraded shares of Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a research note on Wednesday, January 21st. JPMorgan Chase & Co. boosted their target price on shares of Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, BNP Paribas Exane raised shares of Zillow Group to a “strong-buy” rating in a research report on Wednesday, January 14th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.83.

Zillow Group Trading Down 4.2%

The firm has a market capitalization of $13.67 billion, a price-to-earnings ratio of -403.49, a PEG ratio of 3.63 and a beta of 2.08. The business has a 50-day moving average price of $69.35 and a two-hundred day moving average price of $75.46.

Insider Buying and Selling

In other news, General Counsel Bradley D. Owens sold 2,722 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $67.41, for a total transaction of $183,490.02. Following the completion of the transaction, the general counsel owned 37,974 shares of the company’s stock, valued at approximately $2,559,827.34. The trade was a 6.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Dan Spaulding sold 5,455 shares of Zillow Group stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $69.40, for a total transaction of $378,577.00. Following the completion of the sale, the insider owned 50,342 shares in the company, valued at approximately $3,493,734.80. This represents a 9.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 67,511 shares of company stock valued at $4,766,357 in the last three months. 23.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC bought a new stake in Zillow Group during the 3rd quarter valued at $27,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Zillow Group during the third quarter valued at about $29,000. V Square Quantitative Management LLC acquired a new stake in Zillow Group in the fourth quarter worth about $28,000. Cullen Frost Bankers Inc. grew its position in Zillow Group by 58.6% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock valued at $34,000 after buying an additional 163 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in Zillow Group by 58.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider’s stock valued at $35,000 after buying an additional 185 shares during the period. 71.01% of the stock is owned by institutional investors.

About Zillow Group

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.