Zillow Group (NASDAQ:Z) Hits New 1-Year Low – Here’s What Happened

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

Analyst Ratings Changes

Z has been the subject of several research reports. Zelman & Associates upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Keefe, Bruyette & Woods lowered their price target on shares of Zillow Group from $80.00 to $65.00 and set a “market perform” rating for the company in a report on Monday, February 9th. Barclays upgraded Zillow Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Zillow Group in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Zillow Group has a consensus rating of “Hold” and a consensus target price of $90.60.

Zillow Group Stock Down 1.6%

The firm’s 50 day simple moving average is $51.11 and its 200 day simple moving average is $66.09. The company has a market capitalization of $9.89 billion, a PE ratio of 458.58, a price-to-earnings-growth ratio of 2.44 and a beta of 2.10.

Zillow Group (NASDAQ:Z) last announced its earnings results on Tuesday, February 10th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The firm had revenue of $654.00 million during the quarter, compared to analysts’ expectations of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. As a group, sell-side analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Activity at Zillow Group

In other Zillow Group news, CEO Jeremy Wacksman sold 13,661 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $44.25, for a total transaction of $604,499.25. Following the completion of the transaction, the chief executive officer owned 116,322 shares in the company, valued at $5,147,248.50. The trade was a 10.51% 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, CTO David A. Beitel sold 3,966 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $44.22, for a total value 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 represents a 2.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 60,801 shares of company stock worth $2,683,986 in the last three months. 25.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently bought and sold shares of the business. Root Financial Partners LLC purchased a new stake in Zillow Group in the third quarter worth $27,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Zillow Group during the third quarter valued at $29,000. V Square Quantitative Management LLC bought a new position in shares of Zillow Group in the fourth quarter worth about $28,000. Cullen Frost Bankers Inc. grew its holdings in shares of Zillow Group by 58.6% in the third quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 163 shares during the last quarter. Finally, Pittenger & Anderson Inc. increased its stake in Zillow Group by 32.8% in the 3rd quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock worth $42,000 after buying an additional 135 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.