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

Zillow Group, Inc. (NASDAQ:ZG)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $30.24 and last traded at $30.56, with a volume of 2036867 shares trading hands. The stock had previously closed at $30.46.

Analysts Set New Price Targets

ZG has been the subject of a number of analyst reports. Sanford C. Bernstein raised Zillow Group from an “outperform” rating to a “buy” rating in a report on Tuesday, May 26th. Robert W. Baird dropped their target price on shares of Zillow Group from $67.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Weiss Ratings downgraded shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. Zacks Research lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Piper Sandler decreased their price objective on shares of Zillow Group from $70.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Thirteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Zillow Group has an average rating of “Hold” and a consensus target price of $69.43.

Zillow Group Stock Up 0.3%

The company has a market cap of $6.99 billion, a P/E ratio of 122.24, a PEG ratio of 1.30 and a beta of 1.94. The firm has a fifty day moving average price of $38.70 and a 200 day moving average price of $49.70.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The business had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.17 million. During the same quarter in the prior year, the company earned $0.41 EPS. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. On average, sell-side analysts anticipate that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Insider Activity at Zillow Group

In other news, Director Erik C. Blachford sold 791 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $34.80, for a total transaction of $27,526.80. Following the transaction, the director owned 34,952 shares of the company’s stock, valued at $1,216,329.60. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the transaction, the chief executive officer owned 153,699 shares in the company, valued at approximately $5,616,161.46. This represents a 5.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 42,910 shares of company stock valued at $1,605,732 over the last quarter. 29.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arax Advisory Partners boosted its holdings in Zillow Group by 402.3% during the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after buying an additional 354 shares during the last quarter. First Command Advisory Services Inc. bought a new position in shares of Zillow Group during the fourth quarter worth $34,000. Kestra Advisory Services LLC acquired a new position in shares of Zillow Group in the 4th quarter valued at $47,000. Quarry LP acquired a new position in shares of Zillow Group in the 4th quarter valued at $56,000. Finally, Global Retirement Partners LLC increased its position in shares of Zillow Group by 4,130.0% in the 4th quarter. Global Retirement Partners LLC now owns 846 shares of the technology company’s stock valued at $58,000 after buying an additional 826 shares in the last quarter. Institutional investors 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.