Zillow Group (NASDAQ:ZG) Stock Price Down 8.5% – Time to Sell?

Shares of Zillow Group, Inc. (NASDAQ:ZG) dropped 8.5% on Wednesday . The stock traded as low as $55.42 and last traded at $55.46. Approximately 1,066,488 shares traded hands during mid-day trading, an increase of 73% from the average daily volume of 615,785 shares. The stock had previously closed at $60.61.

Wall Street Analyst Weigh In

Several research firms have commented on ZG. Cantor Fitzgerald reissued a “neutral” rating and set a $47.00 target price on shares of Zillow Group in a research note on Monday, October 7th. Evercore ISI raised their price objective on shares of Zillow Group from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. JMP Securities restated a “market outperform” rating and issued a $62.00 target price on shares of Zillow Group in a research report on Wednesday, October 9th. Barclays lifted their price target on Zillow Group from $35.00 to $36.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Finally, DA Davidson boosted their price objective on Zillow Group from $52.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.53.

Zillow Group Price Performance

The stock’s fifty day moving average price is $58.89 and its 200-day moving average price is $50.12. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The firm has a market cap of $12.98 billion, a price-to-earnings ratio of -99.36 and a beta of 2.02.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.08. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The company had revenue of $572.00 million during the quarter, compared to analyst estimates of $538.36 million. During the same quarter in the prior year, the company earned ($0.05) earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities research analysts predict that Zillow Group, Inc. will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Bradley D. Owens sold 752 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total transaction of $39,953.76. Following the transaction, the general counsel now directly owns 35,259 shares of the company’s stock, valued at approximately $1,873,310.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, General Counsel Bradley D. Owens sold 752 shares of Zillow Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total transaction of $39,953.76. Following the completion of the sale, the general counsel now owns 35,259 shares of the company’s stock, valued at approximately $1,873,310.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer Rock sold 4,050 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $49.23, for a total value of $199,381.50. Following the completion of the transaction, the chief accounting officer now directly owns 79,694 shares in the company, valued at approximately $3,923,335.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,999 shares of company stock valued at $11,780,363. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Several large investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC acquired a new stake in Zillow Group in the 3rd quarter worth approximately $29,000. Fidelis Capital Partners LLC bought a new stake in shares of Zillow Group during the 1st quarter worth $32,000. EntryPoint Capital LLC acquired a new position in Zillow Group in the 1st quarter valued at $53,000. GAMMA Investing LLC raised its holdings in Zillow Group by 86.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock worth $75,000 after acquiring an additional 561 shares during the period. Finally, Signaturefd LLC lifted its position in Zillow Group by 29.7% during the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after acquiring an additional 360 shares during the last quarter. 20.32% of the stock is owned by institutional investors.

Zillow Group Company Profile

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.