Zillow Group (NASDAQ:Z) Stock Price Down 5.7% – Time to Sell?

Zillow Group, Inc. (NASDAQ:Z)’s stock price fell 5.7% on Wednesday . The stock traded as low as $43.60 and last traded at $42.7060. 1,152,900 shares were traded during mid-day trading, a decline of 75% from the average session volume of 4,531,627 shares. The stock had previously closed at $45.31.

Analyst Ratings Changes

Z has been the topic of several research analyst reports. Mizuho lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. Zelman & Associates upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Keefe, Bruyette & Woods reduced their target price on Zillow Group from $80.00 to $65.00 and set a “market perform” rating for the company in a research note on Monday, February 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $90.60.

Zillow Group Trading Down 3.9%

The stock has a market capitalization of $10.45 billion, a PE ratio of 484.90, a P/E/G ratio of 2.51 and a beta of 2.10. The stock’s fifty day simple moving average is $52.11 and its 200-day simple moving average is $66.42.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The firm had revenue of $654.00 million for the quarter, compared to the consensus estimate of $650.40 million. As a group, analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO David A. Beitel sold 3,966 shares of Zillow Group stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $44.22, for a total transaction of $175,376.52. Following the sale, the chief technology officer directly owned 136,690 shares in the company, valued at approximately $6,044,431.80. This trade represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeremy Wacksman sold 13,661 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $44.25, for a total value of $604,499.25. Following the completion of the transaction, the chief executive officer directly owned 116,322 shares in the company, valued at approximately $5,147,248.50. This represents a 10.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 60,801 shares of company stock worth $2,683,986. Corporate insiders own 23.76% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Hedge funds have recently made changes to their positions in the business. Painted Porch Advisors LLC purchased a new position in shares of Zillow Group in the 4th quarter worth about $849,000. Rockefeller Capital Management L.P. increased its holdings in Zillow Group by 61.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,315 shares of the financial services provider’s stock worth $226,000 after buying an additional 1,267 shares during the last quarter. Hsbc Holdings PLC raised its position in Zillow Group by 8.0% in the fourth quarter. Hsbc Holdings PLC now owns 190,662 shares of the financial services provider’s stock worth $13,020,000 after acquiring an additional 14,145 shares during the period. Virtu Financial LLC bought a new stake in Zillow Group in the fourth quarter worth about $2,671,000. Finally, Compound Planning Inc. boosted its stake in Zillow Group by 20.4% in the fourth quarter. Compound Planning Inc. now owns 5,528 shares of the financial services provider’s stock valued at $377,000 after acquiring an additional 937 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Zillow Group Company Profile

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.