Zillow Group (NASDAQ:Z) Hits New 52-Week Low – Here’s Why

Zillow Group, Inc. (NASDAQ:Z) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $34.16 and last traded at $34.9510, with a volume of 258904 shares. The stock had previously closed at $35.06.

Analyst Ratings Changes

Z has been the topic of a number of research analyst reports. Zelman & Associates raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Keefe, Bruyette & Woods dropped their price target on Zillow Group from $60.00 to $50.00 and set a “market perform” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings downgraded Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Finally, Wall Street Zen raised Zillow Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $77.00.

Zillow Group Trading Down 0.3%

The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 139.91, a PEG ratio of 1.50 and a beta of 1.97. The company has a fifty day moving average price of $40.42 and a 200-day moving average price of $53.27.

Zillow Group (NASDAQ:Z) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. As a group, research analysts forecast that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other news, General Counsel Bradley D. Owens sold 3,364 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $37.23, for a total transaction of $125,241.72. Following the sale, the general counsel owned 65,245 shares of the company’s stock, valued at $2,429,071.35. This trade represents a 4.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,072 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $36.54, for a total transaction of $331,490.88. Following the completion of the transaction, the chief executive officer owned 153,699 shares of the company’s stock, valued at approximately $5,616,161.46. This represents a 5.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 42,119 shares of company stock worth $1,578,206. 25.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently modified their holdings of the business. Lansforsakringar Fondforvaltning AB publ raised its stake in shares of Zillow Group by 0.3% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 48,575 shares of the financial services provider’s stock worth $3,743,000 after buying an additional 144 shares during the period. Doliver Advisors LP grew its stake in Zillow Group by 1.8% in the 4th quarter. Doliver Advisors LP now owns 9,687 shares of the financial services provider’s stock valued at $661,000 after acquiring an additional 171 shares during the period. Empowered Funds LLC increased its holdings in Zillow Group by 4.7% in the 1st quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 171 shares in the last quarter. GAMMA Investing LLC increased its holdings in Zillow Group by 21.4% in the 4th quarter. GAMMA Investing LLC now owns 1,186 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 209 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in Zillow Group by 3.0% during the fourth quarter. CIBC Asset Management Inc now owns 7,550 shares of the financial services provider’s stock worth $515,000 after acquiring an additional 220 shares during the period. Hedge funds and other institutional investors 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.