Zillow Group (NASDAQ:Z) Sets New 52-Week Low – What’s Next?

Zillow Group, Inc. (NASDAQ:Z)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $39.97 and last traded at $40.49, with a volume of 4509477 shares traded. The stock had previously closed at $41.38.

Analyst Upgrades and Downgrades

Z has been the subject of a number of analyst reports. Zelman & Associates upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Mizuho downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Keefe, Bruyette & Woods lowered their price objective on Zillow Group from $80.00 to $65.00 and set a “market perform” rating on the stock in a research note on Monday, February 9th. Barclays raised Zillow Group from a “strong sell” rating to a “hold” rating in a report on Thursday, January 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $90.60.

Zillow Group Stock Performance

The firm’s fifty day simple moving average is $49.02 and its 200 day simple moving average is $64.61. The stock has a market capitalization of $9.71 billion, a P/E ratio of 449.94, a price-to-earnings-growth ratio of 2.31 and a beta of 2.10.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The firm had revenue of $654.00 million for the quarter, compared to the consensus estimate of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%. Analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jeremy Wacksman sold 13,661 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $44.25, for a total transaction of $604,499.25. Following the completion of the transaction, the chief executive officer owned 116,322 shares of the company’s stock, valued at approximately $5,147,248.50. The trade was a 10.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dan Spaulding sold 5,361 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $43.95, for a total value of $235,615.95. Following the sale, the insider owned 41,080 shares of the company’s stock, valued at approximately $1,805,466. This represents a 11.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 60,801 shares of company stock valued at $2,683,986. Corporate insiders own 25.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Zillow Group by 0.3% in the third quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider’s stock worth $1,777,841,000 after acquiring an additional 71,336 shares during the last quarter. Independent Franchise Partners LLP boosted its stake in shares of Zillow Group by 0.9% in the 4th quarter. Independent Franchise Partners LLP now owns 10,953,405 shares of the financial services provider’s stock valued at $747,241,000 after purchasing an additional 94,569 shares in the last quarter. Capital World Investors grew its holdings in shares of Zillow Group by 1.8% during the 4th quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider’s stock valued at $738,554,000 after purchasing an additional 191,058 shares during the last quarter. Tiger Global Management LLC increased its position in Zillow Group by 20.1% during the 4th quarter. Tiger Global Management LLC now owns 6,056,957 shares of the financial services provider’s stock worth $413,206,000 after purchasing an additional 1,011,813 shares in the last quarter. Finally, Ninety One UK Ltd increased its position in Zillow Group by 2.0% during the 3rd quarter. Ninety One UK Ltd now owns 4,825,287 shares of the financial services provider’s stock worth $371,788,000 after purchasing an additional 93,339 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

About Zillow Group

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.