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

Zillow Group, Inc. (NASDAQ:Z)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $41.91 and last traded at $43.3810, with a volume of 541465 shares changing hands. The stock had previously closed at $42.83.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on Z. JPMorgan Chase & Co. lifted their price target on shares of Zillow Group from $94.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Mizuho lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. 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 reiterated a “hold” rating on shares of Zillow Group in a report on Wednesday, February 11th. Finally, Barclays upgraded Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $90.60.

Zillow Group Stock Performance

The firm has a market capitalization of $10.37 billion, a PE ratio of 481.83, a price-to-earnings-growth ratio of 2.54 and a beta of 2.08. The stock’s 50 day simple moving average is $62.11 and its two-hundred day simple moving average is $72.20.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). The company had revenue of $654.00 million during the quarter, compared to analyst estimates of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. Equities research analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 5,361 shares of Zillow Group stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $43.95, for a total transaction of $235,615.95. Following the transaction, the insider directly owned 41,080 shares of the company’s stock, valued at $1,805,466. The trade was a 11.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO David A. Beitel sold 3,966 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $44.22, for a total transaction 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 represents a 2.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 62,007 shares of company stock worth $2,771,433. Corporate insiders own 25.03% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC purchased a new position in shares of Zillow Group during the 3rd quarter worth $27,000. V Square Quantitative Management LLC acquired a new position in Zillow Group in the fourth quarter valued at about $28,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Zillow Group during the third quarter worth about $29,000. Cullen Frost Bankers Inc. increased its position in shares of Zillow Group by 58.6% during the third quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 163 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of Zillow Group by 58.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 185 shares during the period. Institutional investors and hedge funds 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.