Zillow Group (NASDAQ:ZG) Reaches New 52-Week Low – Time to Sell?

Zillow Group, Inc. (NASDAQ:ZG) reached a new 52-week low during trading on Thursday. The stock traded as low as $28.90 and last traded at $28.91, with a volume of 100647 shares. The stock had previously closed at $29.35.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ZG shares. Citizens Jmp reduced their price objective on shares of Zillow Group from $75.00 to $46.00 and set a “market outperform” rating on the stock in a report on Friday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Zillow Group in a research note on Wednesday, August 19th. Benchmark reissued a “buy” rating on shares of Zillow Group in a report on Monday, August 24th. Piper Sandler cut their price target on Zillow Group from $55.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Finally, DA Davidson decreased their price target on Zillow Group from $60.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.14.

Zillow Group Stock Performance

The firm has a market cap of $6.59 billion, a PE ratio of 133.19, a P/E/G ratio of 1.26 and a beta of 1.97. The firm’s 50-day moving average price is $33.87 and its two-hundred day moving average price is $36.86.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The firm had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.25 million. During the same period last year, the firm posted $0.40 EPS. The company’s revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts predict that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 3,169 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $35.37, for a total transaction of $112,087.53. Following the transaction, the insider owned 44,561 shares of the company’s stock, valued at approximately $1,576,122.57. This trade represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,339 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $319,207.02. Following the completion of the sale, the chief executive officer directly owned 138,574 shares of the company’s stock, valued at $4,736,459.32. The trade was a 6.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 38,539 shares of company stock valued at $1,323,800. Corporate insiders own 29.88% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZG. Technology Crossover Management XI Ltd. purchased a new position in shares of Zillow Group during the second quarter worth approximately $73,694,895. Norges Bank purchased a new stake in Zillow Group in the 4th quarter valued at $152,050,000. Kahn Brothers Group Inc. acquired a new stake in Zillow Group during the 2nd quarter worth $37,265,000. Hsbc Holdings PLC boosted its stake in Zillow Group by 1,616.8% during the 1st quarter. Hsbc Holdings PLC now owns 135,352 shares of the technology company’s stock worth $5,602,000 after purchasing an additional 127,468 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in Zillow Group by 106.6% during the 1st quarter. Quantinno Capital Management LP now owns 176,052 shares of the technology company’s stock worth $7,287,000 after purchasing an additional 90,858 shares during the period. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers and real estate professionals. Its flagship Zillow platform provides property listings, home-value estimates, neighborhood information, mortgage resources and tools that help people buy, sell, rent and finance homes.

The company’s portfolio also includes Trulia, StreetEasy, HotPads and Zillow Rentals, which serve home shoppers and renters in markets across the United States.