Zillow Group (NASDAQ:Z) Hits New 12-Month Low – What’s Next?
by Scott Moore · The Cerbat GemShares of Zillow Group, Inc. (NASDAQ:Z – Get Free Report) reached a new 52-week low during trading on Thursday . The company traded as low as $39.97 and last traded at $40.49, with a volume of 4509477 shares. The stock had previously closed at $41.38.
Analysts Set New Price Targets
A number of brokerages have recently commented on Z. Keefe, Bruyette & Woods decreased their price target on shares of Zillow Group from $80.00 to $65.00 and set a “market perform” rating on the stock in a report on Monday, February 9th. Mizuho downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Barclays raised Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. Finally, Zelman & Associates upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $90.60.
View Our Latest Research Report on Z
Zillow Group Stock Performance
The company has a market cap of $9.74 billion, a P/E ratio of 451.16, a price-to-earnings-growth ratio of 2.27 and a beta of 2.14. The business has a 50 day moving average price of $47.91 and a two-hundred day moving average price of $64.12.
Zillow Group (NASDAQ:Z – Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). The company had revenue of $654.00 million for the quarter, compared to the consensus estimate of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%. As a group, research analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current year.
Insider Transactions at Zillow Group
In related news, CFO Jeremy Hofmann sold 7,786 shares of Zillow Group stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total value of $340,481.78. Following the transaction, the chief financial officer directly owned 57,487 shares of the company’s stock, valued at $2,513,906.51. The trade was a 11.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dan Spaulding sold 5,361 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $43.95, for a total transaction of $235,615.95. Following the sale, the insider owned 41,080 shares of the company’s stock, valued at $1,805,466. This represents a 11.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 60,801 shares of company stock valued at $2,683,986. 25.03% of the stock is currently owned by insiders.
Institutional Trading of Zillow Group
Institutional investors have recently modified their holdings of the company. M&T Bank Corp bought a new stake in shares of Zillow Group in the fourth quarter worth about $196,677,000. Scge Management L.P. bought a new position in Zillow Group during the 3rd quarter valued at approximately $133,990,000. L1 Capital Pty Ltd lifted its holdings in Zillow Group by 24,803.7% in the 4th quarter. L1 Capital Pty Ltd now owns 1,729,313 shares of the financial services provider’s stock worth $117,974,000 after buying an additional 1,722,369 shares during the period. Eminence Capital LP lifted its holdings in Zillow Group by 63.6% in the 2nd quarter. Eminence Capital LP now owns 3,978,731 shares of the financial services provider’s stock worth $278,710,000 after buying an additional 1,546,577 shares during the period. Finally, Soma Equity Partners LP grew its position in shares of Zillow Group by 389.5% in the 3rd quarter. Soma Equity Partners LP now owns 1,468,492 shares of the financial services provider’s stock worth $113,147,000 after buying an additional 1,168,492 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.
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.