Zillow Group (NASDAQ:ZG) Reaches New 12-Month Low – Here’s Why

Shares of Zillow Group, Inc. (NASDAQ:ZG) reached a new 52-week low during trading on Thursday . The stock traded as low as $31.72 and last traded at $32.2480, with a volume of 99403 shares changing hands. The stock had previously closed at $33.51.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Sanford C. Bernstein upgraded shares of Zillow Group from an “outperform” rating to a “buy” rating in a research report on Tuesday, May 26th. Zacks Research downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Citigroup reiterated a “market outperform” rating on shares of Zillow Group in a research report on Tuesday, May 26th. The Goldman Sachs Group cut their price objective on shares of Zillow Group from $53.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, June 12th. Finally, Weiss Ratings downgraded shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Thirteen investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $69.43.

Zillow Group Trading Up 0.5%

The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 129.72, a PEG ratio of 1.43 and a beta of 1.94. The stock’s 50 day moving average is $39.44 and its 200 day moving average is $50.84.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to analysts’ expectations of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The firm’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. On average, sell-side analysts anticipate that Zillow Group, Inc. will post 0.9 EPS for the current year.

Insider Transactions at Zillow Group

In related news, Director Erik C. Blachford sold 791 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $34.80, for a total value of $27,526.80. Following the sale, the director directly owned 34,952 shares of the company’s stock, valued at approximately $1,216,329.60. This represents a 2.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dan Spaulding sold 3,078 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $37.40, for a total transaction of $115,117.20. Following the completion of the sale, the insider directly owned 49,696 shares in the company, valued at approximately $1,858,630.40. The trade was a 5.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold 42,910 shares of company stock worth $1,605,732 in the last 90 days. Insiders own 29.88% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aberdeen Group plc purchased a new position in Zillow Group in the 3rd quarter valued at about $2,529,000. Tabor Asset Management LP purchased a new position in Zillow Group in the 3rd quarter valued at about $2,428,000. M&T Bank Corp lifted its holdings in Zillow Group by 38,344.0% in the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after purchasing an additional 1,600,097 shares in the last quarter. Emmett Investment Management LP purchased a new position in Zillow Group in the 3rd quarter valued at about $2,860,000. Finally, UBS Group AG lifted its holdings in Zillow Group by 44.5% in the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after purchasing an additional 313,643 shares in the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

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.