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

Shares of Zillow Group, Inc. (NASDAQ:ZG) hit a new 52-week low during trading on Thursday . The stock traded as low as $41.89 and last traded at $41.7950, with a volume of 314598 shares traded. The stock had previously closed at $44.35.

Analyst Upgrades and Downgrades

ZG has been the subject of several research analyst reports. Citizens Jmp lowered their price objective on Zillow Group from $90.00 to $85.00 and set a “market outperform” rating for the company in a report on Monday, January 12th. Piper Sandler reaffirmed an “overweight” rating and set a $70.00 target price (down from $85.00) on shares of Zillow Group in a report on Wednesday, February 11th. Canaccord Genuity Group set a $72.00 target price on Zillow Group in a research report on Wednesday, February 11th. Barclays lowered their price target on Zillow Group from $72.00 to $66.00 and set an “equal weight” rating for the company in a report on Wednesday, February 11th. Finally, Susquehanna set a $50.00 price target on Zillow Group in a research report on Thursday, February 12th. Fourteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Zillow Group has a consensus rating of “Moderate Buy” and a consensus target price of $78.05.

Zillow Group Stock Up 3.3%

The stock has a 50 day simple moving average of $54.94 and a 200 day simple moving average of $66.97. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 468.39, a P/E/G ratio of 2.28 and a beta of 2.05.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The company had revenue of $654.00 million for the quarter, compared to analyst estimates 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 company posted $0.27 earnings per share. As a group, analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current year.

Insider Transactions at Zillow Group

In related news, CTO David A. Beitel sold 3,966 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $44.22, for a total value of $175,376.52. Following the sale, the chief technology officer owned 136,690 shares of the company’s stock, valued at $6,044,431.80. This trade represents a 2.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeremy Hofmann sold 7,786 shares of Zillow Group stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total transaction of $340,481.78. Following the completion of the sale, the chief financial officer 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 60,801 shares of company stock valued at $2,683,986 over the last three months. 17.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zillow Group

Large investors have recently made changes to their positions in the company. DoubleLine ETF Adviser LP raised its holdings in shares of Zillow Group by 4.9% during the third quarter. DoubleLine ETF Adviser LP now owns 3,214 shares of the technology company’s stock valued at $239,000 after buying an additional 150 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Zillow Group by 4.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,657 shares of the technology company’s stock worth $256,000 after buying an additional 156 shares in the last quarter. Signaturefd LLC increased its position in Zillow Group by 10.4% in the 4th quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock valued at $117,000 after acquiring an additional 161 shares during the period. Smartleaf Asset Management LLC raised its stake in 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 acquiring an additional 187 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Zillow Group by 23.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock valued at $80,000 after acquiring an additional 194 shares in the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Company Profile

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.