Zillow Group (NASDAQ:ZG) Reaches New 12-Month Low – What’s Next?

Shares of Zillow Group, Inc. (NASDAQ:ZG) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $41.90 and last traded at $43.4080, with a volume of 141711 shares traded. The stock had previously closed at $42.81.

Analysts Set New Price Targets

ZG has been the subject of several recent analyst reports. DA Davidson set a $75.00 price target on Zillow Group in a research note on Thursday, February 12th. JPMorgan Chase & Co. boosted their price objective on Zillow Group from $94.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Benchmark reaffirmed a “buy” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Zillow Group in a research note on Monday, December 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Zillow Group in a report on Wednesday, January 21st. Fourteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $78.05.

Zillow Group Stock Up 1.0%

The firm has a 50-day moving average price of $61.55 and a two-hundred day moving average price of $70.26. The firm has a market cap of $10.37 billion, a PE ratio of 481.96, a P/E/G ratio of 2.54 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Research analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other news, General Counsel Bradley D. Owens sold 2,602 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $44.42, for a total value of $115,580.84. Following the completion of the sale, the general counsel directly owned 33,355 shares in the company, valued at $1,481,629.10. This represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeremy Hofmann sold 7,786 shares of the firm’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 completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 62,007 shares of company stock valued at $2,771,433. 17.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZG. Arax Advisory Partners grew its holdings in shares of Zillow Group by 402.3% in the fourth 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 raised its position in shares of Zillow Group by 78.9% during the 3rd 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 shares of Zillow Group during the 4th quarter valued at approximately $34,000. Kestra Advisory Services LLC acquired a new position in Zillow Group in the fourth quarter valued at approximately $47,000. Finally, Quarry LP acquired a new position in Zillow Group in the fourth quarter valued at approximately $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.