Zillow Group (NASDAQ:Z) Reaches New 12-Month Low – Here’s What Happened

Zillow Group, Inc. (NASDAQ:ZGet Free Report) shares hit a new 52-week low on Monday . The company traded as low as $34.16 and last traded at $34.9510, with a volume of 258904 shares trading hands. The stock had previously closed at $35.06.

Analyst Ratings Changes

Z has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Keefe, Bruyette & Woods reduced their price target on shares of Zillow Group from $60.00 to $50.00 and set a “market perform” rating for the company in a research report on Thursday, May 7th. Zelman & Associates raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Wall Street Zen raised shares of Zillow Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Zillow Group from $84.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

View Our Latest Report on Z

Zillow Group Stock Up 1.9%

The business’s fifty day moving average price is $40.18 and its 200 day moving average price is $52.81. The firm has a market capitalization of $8.11 billion, a PE ratio of 141.80, a PEG ratio of 1.49 and a beta of 1.97.

Zillow Group (NASDAQ:ZGet Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The business had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. On average, analysts anticipate that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Errol G. Samuelson sold 2,939 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $37.97, for a total value of $111,593.83. Following the transaction, the insider owned 134,039 shares of the company’s stock, valued at approximately $5,089,460.83. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dan Spaulding sold 3,078 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $37.40, for a total value of $115,117.20. Following the completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. 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. In the last 90 days, insiders have sold 42,910 shares of company stock valued at $1,605,732. 23.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in Z. M&T Bank Corp purchased a new position in Zillow Group during the fourth quarter worth about $196,677,000. Scge Management L.P. purchased a new position in Zillow Group during the third quarter worth about $133,990,000. L1 Capital Pty Ltd raised its holdings in Zillow Group by 24,803.7% during the fourth quarter. L1 Capital Pty Ltd now owns 1,729,313 shares of the financial services provider’s stock worth $117,974,000 after purchasing an additional 1,722,369 shares in the last quarter. Tiger Global Management LLC raised its holdings in Zillow Group by 21.7% during the first quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock worth $304,927,000 after purchasing an additional 1,312,000 shares in the last quarter. Finally, Soma Equity Partners LP raised its holdings in Zillow Group by 389.5% during the third quarter. Soma Equity Partners LP now owns 1,468,492 shares of the financial services provider’s stock worth $113,147,000 after purchasing an additional 1,168,492 shares in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Zillow Group Company Profile

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Zillow Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zillow Group and related companies with MarketBeat.com's FREE daily email newsletter.