Zillow Group (NASDAQ:ZG) Hits New 12-Month Low – Time to Sell?

Zillow Group, Inc. (NASDAQ:ZG) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $28.90 and last traded at $28.91, with a volume of 100647 shares changing hands. The stock had previously closed at $29.35.

Analyst Ratings Changes

ZG has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Zillow Group in a report on Wednesday, August 19th. Canaccord Genuity Group cut their price target on shares of Zillow Group from $52.00 to $40.00 and set a “hold” rating for the company in a report on Thursday, August 6th. Citigroup reduced their price target on shares of Zillow Group from $68.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Wells Fargo & Company decreased their price objective on shares of Zillow Group from $46.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, August 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Zillow Group in a report on Friday, September 11th. Eleven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $53.14.

Zillow Group Stock Down 1.3%

The stock has a fifty day moving average of $34.06 and a 200-day moving average of $37.04. The firm has a market capitalization of $6.51 billion, a P/E ratio of 130.92, a PEG ratio of 1.38 and a beta of 1.97.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. The firm had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.25 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The company’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. As a group, analysts forecast that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, Director Erik C. Blachford sold 792 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total transaction of $28,282.32. Following the transaction, the director owned 34,160 shares of the company’s stock, valued at approximately $1,219,853.60. This represents a 2.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dan Spaulding sold 3,169 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $35.37, for a total value of $112,087.53. Following the completion of the transaction, the insider owned 44,561 shares in the company, valued at $1,576,122.57. The trade was a 6.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 38,539 shares of company stock valued at $1,323,800 over the last three months. Insiders own 29.88% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Lido Advisors LLC increased its holdings in Zillow Group by 0.4% in the 4th quarter. Lido Advisors LLC now owns 50,846 shares of the technology company’s stock worth $3,627,000 after purchasing an additional 215 shares in the last quarter. First Command Advisory Services Inc. bought a new stake in shares of Zillow Group during the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC grew its holdings in shares of Zillow Group by 183.6% during the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after purchasing an additional 637 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Zillow Group by 4.7% in the first quarter. Public Employees Retirement System of Ohio now owns 15,433 shares of the technology company’s stock valued at $639,000 after buying an additional 699 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of Zillow Group by 6.7% in the first quarter. NewEdge Advisors LLC now owns 11,071 shares of the technology company’s stock valued at $458,000 after buying an additional 699 shares during the period. Institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers and real estate professionals. Its flagship Zillow platform provides property listings, home-value estimates, neighborhood information, mortgage resources and tools that help people buy, sell, rent and finance homes.

The company’s portfolio also includes Trulia, StreetEasy, HotPads and Zillow Rentals, which serve home shoppers and renters in markets across the United States.