Zillow Group (NASDAQ:ZG) Reaches New 12-Month Low – What’s Next?

Zillow Group, Inc. (NASDAQ:ZG) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $41.90 and last traded at $43.4080, with a volume of 141711 shares traded. The stock had previously closed at $42.81.

Analysts Set New Price Targets

ZG has been the subject of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of Zillow Group from $73.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, February 10th. Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 price objective on shares of Zillow Group in a research report on Monday, December 15th. Citizens Jmp cut their target price on Zillow Group from $90.00 to $85.00 and set a “market outperform” rating for the company in a research report on Monday, January 12th. Robert W. Baird set a $67.00 target price on Zillow Group in a research note on Wednesday, February 11th. Finally, UBS Group set a $80.00 price target on Zillow Group in a research note on Wednesday, February 11th. Fourteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.05.

Zillow Group Trading Up 1.0%

The business’s 50 day moving average is $61.55 and its 200 day moving average is $70.26. The stock has a market capitalization of $10.37 billion, a PE ratio of 481.96, a PEG ratio of 2.54 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the previous year, the business earned $0.27 EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, analysts anticipate that Zillow Group, Inc. will post 0.32 EPS for the current year.

Insider Activity

In other news, insider Dan Spaulding sold 5,361 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $43.95, for a total transaction of $235,615.95. Following the transaction, the insider directly owned 41,080 shares of the company’s stock, valued at approximately $1,805,466. This represents a 11.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeremy Hofmann sold 7,786 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total value of $340,481.78. Following the sale, the chief financial officer owned 57,487 shares of the company’s stock, valued at approximately $2,513,906.51. This represents a 11.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 62,007 shares of company stock worth $2,771,433 over the last 90 days. 17.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZG. AQR Capital Management LLC raised its position in Zillow Group by 40.5% during the first quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock valued at $862,000 after acquiring an additional 3,717 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Zillow Group by 110.8% during the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after purchasing an additional 152,955 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Zillow Group by 7.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock valued at $5,878,000 after purchasing an additional 5,737 shares during the period. Ethic Inc. boosted its holdings in Zillow Group by 31.0% during the second quarter. Ethic Inc. now owns 12,246 shares of the technology company’s stock worth $835,000 after buying an additional 2,901 shares in the last quarter. Finally, AlphaQuest LLC grew its position in Zillow Group by 69.7% during the second quarter. AlphaQuest LLC now owns 12,707 shares of the technology company’s stock valued at $870,000 after buying an additional 5,219 shares during the period. Hedge funds and other institutional investors own 20.32% of the company’s stock.

About Zillow Group

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.