Zillow Group (NASDAQ:ZG) Reaches New 52-Week Low – What’s Next?

Zillow Group, Inc. (NASDAQ:ZG) hit a new 52-week low during trading on Wednesday . The stock traded as low as $38.30 and last traded at $39.3180, with a volume of 99233 shares. The stock had previously closed at $39.84.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. DA Davidson set a $75.00 price objective on shares of Zillow Group in a research report on Thursday, February 12th. Zacks Research upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. Susquehanna set a $50.00 target price on Zillow Group in a report on Thursday, February 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Zillow Group in a research note on Tuesday, April 28th. Finally, Benchmark reiterated a “buy” rating on shares of Zillow Group in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Zillow Group presently has a consensus rating of “Moderate Buy” and an average price target of $71.24.

Zillow Group Trading Down 1.7%

The company’s 50 day moving average is $43.40 and its 200-day moving average is $57.18. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 156.58, a P/E/G ratio of 1.90 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. Research analysts expect that Zillow Group, Inc. will post 0.82 EPS for the current year.

Insiders Place Their Bets

In other Zillow Group news, CFO Jeremy Hofmann sold 7,786 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total transaction of $340,481.78. Following the transaction, 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. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Bradley D. Owens sold 2,602 shares of Zillow Group stock in a transaction on Friday, February 13th. The stock was sold at an average price of $44.42, for a total transaction of $115,580.84. Following the transaction, the general counsel directly owned 33,355 shares in the company, valued at $1,481,629.10. This represents a 7.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 60,801 shares of company stock worth $2,683,986 over the last three months. Insiders own 29.88% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in shares of Zillow Group by 78.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 187 shares in the last quarter. Arax Advisory Partners grew its stake in Zillow Group by 402.3% in the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock valued at $30,000 after purchasing an additional 354 shares in the last quarter. First Command Advisory Services Inc. acquired a new position in Zillow Group in the 4th quarter valued at $34,000. Kestra Advisory Services LLC acquired a new position in Zillow Group in the 4th quarter valued at $47,000. Finally, Quarry LP bought a new position in shares of Zillow Group in the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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.