Zillow Group (NASDAQ:ZG) Shares Down 3.7% – What’s Next?

Zillow Group, Inc. (NASDAQ:ZG)’s stock price dropped 3.7% during trading on Thursday . The company traded as low as $31.03 and last traded at $30.8180. 247,150 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 1,154,954 shares. The stock had previously closed at $32.00.

Analyst Ratings Changes

A number of research analysts have recently commented on ZG shares. Cantor Fitzgerald cut their price target on Zillow Group from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. KeyCorp restated an “overweight” rating and set a $48.00 price target on shares of Zillow Group in a research note on Tuesday, August 25th. Canaccord Genuity Group reduced their target price on shares of Zillow Group from $52.00 to $40.00 and set a “hold” rating on the stock in a research note on Thursday, August 6th. BTIG Research reissued a “neutral” rating on shares of Zillow Group in a report on Thursday, June 11th. Finally, Citizens Jmp reduced their price target on shares of Zillow Group from $75.00 to $46.00 and set a “market outperform” rating on the stock in a research report on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Zillow Group presently has an average rating of “Hold” and a consensus price target of $53.14.

Zillow Group Stock Performance

The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 141.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.97. The company has a 50-day moving average price of $34.25 and a 200-day moving average price of $37.56.

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

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 3,169 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $35.37, for a total transaction of $112,087.53. Following the sale, the insider directly owned 44,561 shares in the company, valued at approximately $1,576,122.57. This trade represents a 6.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,661 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.18, for a total transaction of $193,492.98. Following the completion of the sale, the chief financial officer directly owned 59,144 shares in the company, valued at $2,021,541.92. This represents a 8.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold 38,539 shares of company stock worth $1,323,800 in the last quarter. Company insiders own 29.88% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC bought a new stake in shares of Zillow Group during the 2nd quarter worth approximately $436,000. Engineers Gate Manager LP boosted its position in shares of Zillow Group by 1,290.7% in the second quarter. Engineers Gate Manager LP now owns 95,959 shares of the technology company’s stock valued at $3,010,000 after acquiring an additional 89,059 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Zillow Group in the 2nd quarter valued at about $29,000. Arizona State Retirement System acquired a new stake in Zillow Group during the second quarter worth approximately $340,000. Finally, Nykredit A S acquired a new stake in shares of Zillow Group during the 2nd quarter worth $65,000. 20.32% of the stock is owned by institutional investors.

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.