Zillow Group (NASDAQ:Z) Sets New 12-Month Low – Should You Sell?
by Scott Moore · The Cerbat GemShares of Zillow Group, Inc. (NASDAQ:Z – Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $37.86 and last traded at $39.0870, with a volume of 450088 shares trading hands. The stock had previously closed at $39.63.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on Z shares. Wall Street Zen upgraded Zillow Group from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays upgraded shares of Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. dropped their price target on Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Zacks Research upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Zillow Group has a consensus rating of “Moderate Buy” and an average target price of $79.75.
View Our Latest Stock Report on Zillow Group
Zillow Group Trading Down 2.0%
The company has a market capitalization of $9.32 billion, a PE ratio of 155.48, a PEG ratio of 1.89 and a beta of 2.07. The firm has a fifty day moving average of $43.40 and a two-hundred day moving average of $57.96.
Zillow Group (NASDAQ:Z – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $705.10 million. On average, equities analysts expect that Zillow Group, Inc. will post 0.82 EPS for the current fiscal year.
Insiders Place Their Bets
In other Zillow Group news, CEO Jeremy Wacksman sold 13,661 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total value of $604,499.25. Following the completion of the transaction, the chief executive officer directly owned 116,322 shares in the company, valued at approximately $5,147,248.50. This represents a 10.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Hofmann sold 7,786 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.73, for a total transaction of $340,481.78. Following the completion of the transaction, the chief financial officer owned 57,487 shares of the company’s stock, valued at $2,513,906.51. This trade represents a 11.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,801 shares of company stock valued at $2,683,986 over the last quarter. 23.76% of the stock is owned by company insiders.
Institutional Investors Weigh In On Zillow Group
A number of large investors have recently added to or reduced their stakes in the stock. M&T Bank Corp purchased a new stake in shares of Zillow Group during the 4th quarter valued at about $196,677,000. Scge Management L.P. purchased a new stake in shares of Zillow Group during the 3rd quarter valued at about $133,990,000. L1 Capital Pty Ltd increased its position in shares of Zillow Group by 24,803.7% during the 4th quarter. L1 Capital Pty Ltd now owns 1,729,313 shares of the financial services provider’s stock valued at $117,974,000 after purchasing an additional 1,722,369 shares during the last quarter. Soma Equity Partners LP increased its position in shares of Zillow Group by 389.5% during the 3rd quarter. Soma Equity Partners LP now owns 1,468,492 shares of the financial services provider’s stock valued at $113,147,000 after purchasing an additional 1,168,492 shares during the last quarter. Finally, Amundi increased its position in shares of Zillow Group by 183.8% during the 4th quarter. Amundi now owns 1,632,369 shares of the financial services provider’s stock valued at $111,360,000 after purchasing an additional 1,057,192 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.
Zillow Group Company Profile
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.