Zillow Group (NASDAQ:Z) Reaches New 1-Year Low – Here’s Why

Shares of Zillow Group, Inc. (NASDAQ:Z) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $40.84 and last traded at $41.21, with a volume of 182755 shares. The stock had previously closed at $41.86.

Analyst Ratings Changes

A number of equities research analysts have recently commented on Z shares. Mizuho downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Zelman & Associates upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Keefe, Bruyette & Woods lowered their price target on Zillow Group from $80.00 to $65.00 and set a “market perform” rating for the company in a report on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a research note on Wednesday, January 21st. Finally, Barclays upgraded shares of Zillow Group from a “strong sell” rating to a “hold” rating in a report on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Zillow Group has an average rating of “Hold” and a consensus price target of $90.60.

Zillow Group Trading Down 3.4%

The company has a market capitalization of $9.70 billion, a PE ratio of 449.38, a PEG ratio of 2.26 and a beta of 2.10. The company’s 50 day moving average price is $50.55 and its 200-day moving average price is $65.59.

Zillow Group (NASDAQ:Z) last issued its 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). Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The firm had revenue of $654.00 million during the quarter, compared to analyst estimates of $650.40 million. As a group, analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jeremy Wacksman sold 13,661 shares of the firm’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 transaction, the chief executive officer owned 116,322 shares in the company, valued at approximately $5,147,248.50. This trade represents a 10.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO David A. Beitel sold 3,966 shares of Zillow Group stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $44.22, for a total transaction of $175,376.52. Following the transaction, the chief technology officer directly owned 136,690 shares in the company, valued at approximately $6,044,431.80. This trade represents a 2.82% 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 worth $2,683,986. 25.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Zillow Group

Several large investors have recently made changes to their positions in Z. M&T Bank Corp purchased a new position in shares of Zillow Group in the 4th quarter valued at $196,677,000. Scge Management L.P. purchased a new stake in Zillow Group during the 3rd quarter worth $133,990,000. L1 Capital Pty Ltd boosted its position in Zillow Group by 24,803.7% during the 4th quarter. L1 Capital Pty Ltd now owns 1,729,313 shares of the financial services provider’s stock worth $117,974,000 after purchasing an additional 1,722,369 shares during the period. Eminence Capital LP increased its holdings in Zillow Group by 63.6% in the 2nd quarter. Eminence Capital LP now owns 3,978,731 shares of the financial services provider’s stock valued at $278,710,000 after purchasing an additional 1,546,577 shares in the last quarter. Finally, Soma Equity Partners LP raised its position in Zillow Group by 389.5% in the third quarter. Soma Equity Partners LP now owns 1,468,492 shares of the financial services provider’s stock valued at $113,147,000 after purchasing an additional 1,168,492 shares during the period. Institutional investors and hedge funds 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.