Zillow Group (NASDAQ:ZG) Shares Gap Down – Should You Sell?

Shares of Zillow Group, Inc. (NASDAQ:ZG) gapped down before the market opened on Monday . The stock had previously closed at $72.38, but opened at $67.00. Zillow Group shares last traded at $65.1190, with a volume of 247,278 shares trading hands.

Analysts Set New Price Targets

ZG has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of Zillow Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. JPMorgan Chase & Co. lifted their target price on shares of Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Susquehanna decreased their price target on shares of Zillow Group from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, October 8th. Finally, Oppenheimer assumed coverage on Zillow Group in a research note on Monday, October 6th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $87.09.

Zillow Group Stock Down 8.9%

The stock has a market capitalization of $15.95 billion, a P/E ratio of -471.81, a P/E/G ratio of 28.46 and a beta of 2.06. The stock has a 50 day simple moving average of $70.72 and a two-hundred day simple moving average of $74.01.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.02). Zillow Group had a negative net margin of 1.29% and a negative return on equity of 0.56%. The company had revenue of $676.00 million during the quarter, compared to analyst estimates of $670.28 million. During the same period in the previous year, the company posted $0.35 EPS. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. Sell-side analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Transactions at Zillow Group

In related news, insider Dan Spaulding sold 5,455 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $69.40, for a total value of $378,577.00. Following the completion of the sale, the insider directly owned 50,342 shares in the company, valued at approximately $3,493,734.80. This trade represents a 9.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Bradley D. Owens sold 2,722 shares of Zillow Group stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $67.41, for a total value of $183,490.02. Following the transaction, the general counsel owned 37,974 shares of the company’s stock, valued at $2,559,827.34. The trade was a 6.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 67,511 shares of company stock valued at $4,766,357. 17.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ZG. Smartleaf Asset Management LLC lifted its position in Zillow Group by 78.9% during the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after acquiring an additional 187 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Zillow Group by 79.4% during the first quarter. National Bank of Canada FI now owns 488 shares of the technology company’s stock worth $33,000 after purchasing an additional 216 shares during the period. Jones Financial Companies Lllp lifted its holdings in Zillow Group by 23.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock worth $80,000 after purchasing an additional 194 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Zillow Group by 33.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company’s stock worth $75,000 after purchasing an additional 280 shares during the last quarter. Finally, Group One Trading LLC boosted its stake in Zillow Group by 884.7% in the 3rd quarter. Group One Trading LLC now owns 1,477 shares of the technology company’s stock valued at $110,000 after purchasing an additional 1,327 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.