Shares of Zillow Group, Inc. (NASDAQ:ZG – Get Free Report) crossed below its 50 day moving average during trading on Wednesday after UBS Group lowered their price target on the stock from $50.00 to $48.00. The stock has a 50 day moving average of $32.28 and traded as low as $31.61. UBS Group currently has a buy rating on the stock. Zillow Group shares last traded at $31.87, with a volume of 979,246 shares.
Several other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company set a $21.00 price objective on shares of Zillow Group in a research report on Monday, October 12th. Citigroup lowered their target price on shares of Zillow Group from $68.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Susquehanna dropped their target price on shares of Zillow Group from $50.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Canaccord Genuity Group cut their target price on shares of Zillow Group from $52.00 to $40.00 and set a “hold” rating for the company in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Zillow Group in a report on Wednesday, August 19th. Ten research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Zillow Group presently has a consensus rating of “Hold” and an average target price of $51.10.
View Our Latest Analysis on ZG
Insider Transactions at Zillow Group
In related news, Director Erik Blachford sold 792 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total value of $28,282.32. Following the sale, the director directly owned 34,160 shares in the company, valued at approximately $1,219,853.60. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Claire Thielke sold 1,187 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total value of $42,387.77. Following the completion of the sale, the director owned 2,375 shares in the company, valued at $84,811.25. This represents a 33.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 38,539 shares of company stock valued at $1,323,800. 29.88% of the stock is owned by insiders.
Institutional Trading of Zillow Group
A number of large investors have recently added to or reduced their stakes in the company. Kahn Brothers Group Inc. purchased a new stake in shares of Zillow Group during the 2nd quarter worth approximately $22,560,872,000. Technology Crossover Management XI Ltd. bought a new position in shares of Zillow Group during the 2nd quarter valued at approximately $73,694,895. Dimensional Fund Advisors LP boosted its position in shares of Zillow Group by 18.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 554,460 shares of the technology company’s stock valued at $22,947,000 after acquiring an additional 85,367 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Zillow Group by 724.4% in the third quarter. Assenagon Asset Management S.A. now owns 406,398 shares of the technology company’s stock valued at $11,257,000 after purchasing an additional 357,104 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of Zillow Group by 106.6% in the first quarter. Quantinno Capital Management LP now owns 176,052 shares of the technology company’s stock valued at $7,287,000 after purchasing an additional 90,858 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.
Zillow Group Stock Down 3.9%
The business’s fifty day moving average is $32.28 and its two-hundred day moving average is $39.73. The stock has a market capitalization of $7.17 billion, a PE ratio of 144.87, a price-to-earnings-growth ratio of 1.44 and a beta of 2.02.
Zillow Group (NASDAQ:ZG – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.08. The company had revenue of $772.00 million for the quarter, compared to analysts’ expectations of $758.25 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. Zillow Group’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. Sell-side analysts expect that Zillow Group, Inc. will post 0.92 EPS for the current fiscal year.
Zillow Group Company Profile
Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers, real estate professionals, and other housing industry participants. Its services are designed to help people search for homes, understand property values, connect with agents, and manage transactions throughout the residential real estate process.
The company’s portfolio includes Zillow, Trulia, StreetEasy, HotPads, and ShowingTime+. Zillow provides home listings, estimated property values, rental information, agent connections, mortgage resources, and other housing-related tools.
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