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

Zillow Group, Inc. (NASDAQ:ZG)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $34.50 and last traded at $35.25, with a volume of 61792 shares trading hands. The stock had previously closed at $35.39.

Analyst Ratings Changes

ZG has been the topic of a number of analyst reports. KeyCorp dropped their target price on Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Citigroup restated a “market outperform” rating on shares of Zillow Group in a research report on Tuesday, May 26th. Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Susquehanna set a $50.00 target price on Zillow Group in a research report on Thursday, February 12th. Finally, Benchmark restated a “buy” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Thirteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zillow Group presently has an average rating of “Hold” and an average target price of $71.24.

Zillow Group Stock Performance

The stock has a market capitalization of $8.20 billion, a PE ratio of 143.32, a price-to-earnings-growth ratio of 1.49 and a beta of 1.94. The stock’s 50 day moving average is $40.39 and its two-hundred day moving average is $52.43.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. Zillow Group’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the company posted $0.41 EPS. Equities research analysts expect that Zillow Group, Inc. will post 0.9 EPS for the current fiscal year.

Insider Transactions at Zillow Group

In related news, CEO Jeremy Wacksman sold 9,072 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $36.54, for a total value of $331,490.88. Following the transaction, the chief executive officer directly owned 153,699 shares of the company’s stock, valued at approximately $5,616,161.46. This trade represents a 5.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Errol G. Samuelson sold 2,939 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $37.97, for a total transaction of $111,593.83. Following the completion of the transaction, the insider directly owned 134,039 shares in the company, valued at $5,089,460.83. This represents a 2.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 42,910 shares of company stock worth $1,605,732 in the last three months. 29.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arax Advisory Partners lifted its stake in Zillow Group by 402.3% in the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after purchasing an additional 354 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Zillow Group by 78.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 187 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in Zillow Group in the 4th quarter worth approximately $34,000. EverSource Wealth Advisors LLC lifted its stake in Zillow Group by 183.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after purchasing an additional 637 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Zillow Group by 990.3% in the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock worth $42,000 after purchasing an additional 921 shares in the last quarter. 20.32% of the stock is owned by hedge funds and other institutional investors.

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.