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

Zillow Group, Inc. (NASDAQ:ZG)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $39.99 and last traded at $41.3130, with a volume of 239534 shares trading hands. The stock had previously closed at $42.04.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ZG shares. BNP Paribas Exane started coverage on Zillow Group in a report on Wednesday, January 14th. They set an “outperform” rating and a $85.00 price target for the company. Mizuho set a $65.00 price objective on shares of Zillow Group in a research note on Wednesday, February 11th. Piper Sandler restated an “overweight” rating and set a $70.00 price objective (down from $85.00) on shares of Zillow Group in a research report on Wednesday, February 11th. Cantor Fitzgerald reduced their target price on shares of Zillow Group from $56.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Evercore reaffirmed an “outperform” rating on shares of Zillow Group in a report on Tuesday, March 17th. Fourteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $77.05.

Zillow Group Stock Down 3.9%

The stock has a fifty day moving average of $50.26 and a two-hundred day moving average of $64.16. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of 449.05, a price-to-earnings-growth ratio of 2.26 and a beta of 2.05.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, February 10th. The technology company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The business had revenue of $654.00 million during the quarter, compared to analyst estimates of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. Zillow Group’s revenue was up 18.1% compared to the same quarter last year. During the same period last year, the business posted $0.27 EPS. On average, research analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In related news, insider Errol G. Samuelson sold 7,015 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $44.21, for a total value of $310,133.15. Following the completion of the sale, the insider owned 113,800 shares in the company, valued at $5,031,098. This trade represents a 5.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeremy Hofmann sold 7,786 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $43.73, for a total transaction of $340,481.78. Following the sale, the chief financial officer directly owned 57,487 shares in the company, valued at approximately $2,513,906.51. This represents a 11.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 60,801 shares of company stock worth $2,683,986. Insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Several institutional investors have recently modified their holdings of ZG. AQR Capital Management LLC increased its stake in Zillow Group by 40.5% in the 1st quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock valued at $862,000 after purchasing an additional 3,717 shares in the last quarter. Millennium Management LLC raised its holdings in Zillow Group by 110.8% during the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock worth $19,456,000 after purchasing an additional 152,955 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Zillow Group by 7.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock worth $5,878,000 after purchasing an additional 5,737 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Zillow Group by 79.0% during the second quarter. PNC Financial Services Group Inc. now owns 2,021 shares of the technology company’s stock worth $138,000 after purchasing an additional 892 shares in the last quarter. Finally, Creative Planning grew its holdings in Zillow Group by 9.4% in the second quarter. Creative Planning now owns 7,934 shares of the technology company’s stock valued at $543,000 after purchasing an additional 685 shares during the last quarter. Hedge funds and other 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.