Zillow Group, Inc. (NASDAQ:ZG – Get Free Report)’s share price hit a new 52-week low during trading on Wednesday. The company traded as low as $27.73 and last traded at $28.01, with a volume of 1464959 shares. The stock had previously closed at $28.15.
Analyst Upgrades and Downgrades
Several analysts have commented on ZG shares. The Goldman Sachs Group decreased their price target on shares of Zillow Group from $53.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, June 12th. Citigroup cut their price objective on shares of Zillow Group from $68.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Benchmark reiterated a “buy” rating on shares of Zillow Group in a research note on Monday, August 24th. Cantor Fitzgerald decreased their target price on shares of Zillow Group from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Finally, DA Davidson lowered their target price on shares of Zillow Group from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $53.14.
View Our Latest Stock Report on Zillow Group
Zillow Group Price Performance
Zillow Group (NASDAQ:ZG – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. The firm had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.25 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share. Equities analysts anticipate that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.
Insider Buying and Selling at Zillow Group
In other news, CTO David A. Beitel sold 1,798 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $61,563.52. Following the sale, the chief technology officer directly owned 133,013 shares of the company’s stock, valued at $4,554,365.12. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,661 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the transaction, the chief financial officer directly owned 59,144 shares in the company, valued at approximately $2,021,541.92. The trade was a 8.74% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 38,539 shares of company stock worth $1,323,800 in the last three months. 29.88% of the stock is owned by company insiders.
Institutional Trading of Zillow Group
Large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new position in shares of Zillow Group in the second quarter valued at about $436,000. Engineers Gate Manager LP increased its holdings in Zillow Group by 1,290.7% in the 2nd quarter. Engineers Gate Manager LP now owns 95,959 shares of the technology company’s stock worth $3,010,000 after buying an additional 89,059 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Zillow Group in the 2nd quarter worth approximately $29,000. Arizona State Retirement System purchased a new position in Zillow Group during the 2nd quarter worth approximately $340,000. Finally, Nykredit A S purchased a new position in Zillow Group during the 2nd quarter worth approximately $65,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.
About Zillow Group
Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms designed to help consumers buy, sell, rent and finance homes. Founded in 2006 and headquartered in Seattle, Washington, the company serves the U.S. residential real estate market through a portfolio of well-known brands.
Its flagship Zillow platform provides home listings, property information, estimated home values through its Zestimate tool, rental listings, mortgage resources and connections to real estate professionals.
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