Zillow Group (NASDAQ:ZG) Sets New 52-Week Low – Time to Sell?

Zillow Group, Inc. (NASDAQ:ZG) hit a new 52-week low on Thursday . The company traded as low as $39.92 and last traded at $40.47, with a volume of 1264171 shares changing hands. The stock had previously closed at $41.39.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ZG shares. Evercore reaffirmed an “outperform” rating on shares of Zillow Group in a research note on Tuesday, March 17th. Citizens Jmp cut their target price on shares of Zillow Group from $90.00 to $85.00 and set a “market outperform” rating for the company in a research note on Monday, January 12th. Mizuho set a $65.00 target price on shares of Zillow Group in a report on Wednesday, February 11th. Susquehanna set a $50.00 price target on shares of Zillow Group in a research report on Thursday, February 12th. Finally, UBS Group set a $80.00 price target on Zillow Group in a report on Wednesday, February 11th. Fourteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and an average price target of $77.05.

Zillow Group Stock Performance

The stock has a 50 day moving average of $48.76 and a two-hundred day moving average of $63.25. The stock has a market cap of $9.71 billion, a PE ratio of 449.72, a PEG ratio of 2.32 and a beta of 2.05.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Tuesday, February 10th. The technology company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). The firm had revenue of $654.00 million during the quarter, compared to analyst estimates of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 earnings per share. Analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jeremy Wacksman sold 13,661 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total value of $604,499.25. Following the completion of the sale, the chief executive officer owned 116,322 shares in the company, valued at approximately $5,147,248.50. This represents a 10.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Bradley D. Owens sold 2,602 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $44.42, for a total transaction of $115,580.84. Following the completion of the transaction, the general counsel directly owned 33,355 shares of the company’s stock, valued at $1,481,629.10. This represents a 7.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,801 shares of company stock worth $2,683,986 in the last quarter. Corporate insiders own 17.14% of the company’s stock.

Institutional Trading of Zillow Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Arax Advisory Partners grew its holdings in shares of Zillow Group by 402.3% during the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock valued at $30,000 after buying an additional 354 shares in the last quarter. Smartleaf Asset Management LLC raised 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 valued at $33,000 after buying an additional 187 shares during the period. First Command Advisory Services Inc. purchased a new stake in Zillow Group in the 4th quarter worth about $34,000. Kestra Advisory Services LLC purchased a new stake in Zillow Group in the 4th quarter worth about $47,000. Finally, Quarry LP acquired a new stake in Zillow Group during the 4th quarter worth about $56,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.