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 stock traded as low as $39.92 and last traded at $40.47, with a volume of 1264171 shares traded. The stock had previously closed at $41.39.

Wall Street Analysts Forecast Growth

ZG has been the topic of a number of recent research reports. DA Davidson set a $75.00 target price on Zillow Group in a research note on Thursday, February 12th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Zillow Group in a report on Tuesday, March 17th. Citizens Jmp cut their price objective on shares of Zillow Group from $90.00 to $85.00 and set a “market outperform” rating on the stock in a research report on Monday, January 12th. Susquehanna set a $50.00 target price on shares of Zillow Group in a research note on Thursday, February 12th. Finally, Barclays decreased their target price on shares of Zillow Group from $72.00 to $66.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. Fourteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Zillow Group has a consensus rating of “Moderate Buy” and an average target price of $77.05.

Zillow Group Stock Down 2.2%

The company has a market cap of $9.71 billion, a P/E ratio of 449.72, a PEG ratio of 2.32 and a beta of 2.05. The company has a 50 day moving average price of $48.76 and a 200-day moving average price of $63.25.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The company had revenue of $654.00 million for the quarter, compared to the consensus estimate 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 for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 earnings per share. On average, research analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In other Zillow Group news, CFO Jeremy Hofmann sold 7,786 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were 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. The trade was a 11.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dan Spaulding sold 5,361 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $43.95, for a total transaction of $235,615.95. Following the completion of the sale, the insider directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold 60,801 shares of company stock worth $2,683,986 in the last 90 days. 17.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Institutional investors have recently added to or reduced their stakes in the company. Arax Advisory Partners increased its position in shares of Zillow Group by 402.3% during the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock valued at $30,000 after purchasing an additional 354 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Zillow Group by 78.9% in 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. acquired a new stake in shares of Zillow Group in the fourth quarter valued at $34,000. Kestra Advisory Services LLC bought a new position in Zillow Group during the fourth quarter valued at about $47,000. Finally, Quarry LP acquired a new position in Zillow Group during the fourth quarter worth about $56,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Company Profile

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.