Zillow Group (NASDAQ:ZG) Hits New 1-Year Low – What’s Next?

Zillow Group, Inc. (NASDAQ:ZG) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $39.92 and last traded at $40.47, with a volume of 1264171 shares changing hands. The stock had previously closed at $41.39.

Analysts Set New Price Targets

Several analysts have recently commented on ZG shares. Robert W. Baird reduced their price objective on shares of Zillow Group from $67.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Zillow Group in a research report on Tuesday, March 17th. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Zillow Group in a research note on Wednesday, March 25th. DA Davidson set a $75.00 price target on shares of Zillow Group in a report on Thursday, February 12th. Finally, Citizens Jmp decreased their price target on shares of Zillow Group from $90.00 to $85.00 and set a “market outperform” rating for the company in a research note on Monday, January 12th. Fourteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.05.

Zillow Group Price Performance

The company has a fifty day moving average price of $47.68 and a 200 day moving average price of $62.79. The stock has a market cap of $9.75 billion, a P/E ratio of 451.61, a P/E/G ratio of 2.27 and a beta of 2.10.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Tuesday, February 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The firm had revenue of $654.00 million during the quarter, compared to the consensus estimate of $650.40 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. Zillow Group’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, sell-side analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In other news, CTO David A. Beitel sold 3,966 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $44.22, for a total transaction of $175,376.52. Following the completion of the sale, the chief technology officer directly owned 136,690 shares of the company’s stock, valued at $6,044,431.80. The trade was a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeremy Wacksman sold 13,661 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $44.25, for a total transaction of $604,499.25. Following the completion of the sale, the chief executive officer owned 116,322 shares in the company, valued at $5,147,248.50. This represents a 10.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 60,801 shares of company stock valued at $2,683,986. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its stake in shares of Zillow Group by 78.9% in the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 187 shares during the last quarter. Arax Advisory Partners boosted its holdings in Zillow Group by 402.3% during the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after purchasing an additional 354 shares during the last quarter. First Command Advisory Services Inc. bought a new position in shares of Zillow Group during the 4th quarter worth approximately $34,000. Kestra Advisory Services LLC purchased a new position in shares of Zillow Group in the 4th quarter worth approximately $47,000. Finally, Quarry LP purchased a new position in shares of Zillow Group in the 4th quarter worth approximately $56,000. 20.32% of the stock is owned by institutional investors.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.