Zillow Group (NASDAQ:ZG) Hits New 1-Year Low – Should You Sell?

Zillow Group, Inc. (NASDAQ:ZG)’s share price reached a new 52-week low on Monday . The company traded as low as $34.50 and last traded at $35.25, with a volume of 61792 shares changing hands. The stock had previously closed at $35.39.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ZG shares. UBS Group decreased their target price on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. The Goldman Sachs Group set a $53.00 price target on Zillow Group in a research note on Thursday, May 7th. Barclays decreased their price objective on Zillow Group from $58.00 to $54.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. KeyCorp dropped their target price on Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Finally, Canaccord Genuity Group cut their target price on Zillow Group from $72.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, May 7th. Thirteen investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $71.24.

Zillow Group Trading Down 0.4%

The firm has a market capitalization of $8.07 billion, a P/E ratio of 141.06, a P/E/G ratio of 1.51 and a beta of 1.94. The stock’s 50-day simple moving average is $40.63 and its 200-day simple moving average is $52.87.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The firm had revenue of $708.00 million for the quarter, compared to analysts’ expectations of $705.17 million. During the same quarter last year, the firm earned $0.41 EPS. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, equities research analysts expect that Zillow Group, Inc. will post 0.9 EPS for the current year.

Insider Buying and Selling at Zillow Group

In other news, CEO Jeremy Wacksman sold 9,072 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $36.54, for a total transaction of $331,490.88. Following the completion of the sale, the chief executive officer directly owned 153,699 shares of the company’s stock, valued at $5,616,161.46. This trade represents a 5.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Hofmann sold 5,501 shares of Zillow Group stock in a transaction on Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $205,737.40. Following the sale, the chief financial officer owned 68,315 shares in the company, valued at $2,554,981. The trade was a 7.45% decrease in their ownership of the stock. 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. Insiders sold a total of 42,119 shares of company stock valued at $1,578,206 in the last ninety days. 29.88% of the stock is owned by corporate insiders.

Institutional Trading of Zillow Group

Several hedge funds have recently added to or reduced their stakes in ZG. Norges Bank bought a new position in Zillow Group during the fourth quarter valued at $152,050,000. M&T Bank Corp raised its stake in shares of Zillow Group by 38,344.0% in the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after buying an additional 1,600,097 shares during the period. UBS Group AG lifted its position in shares of Zillow Group by 44.5% during the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after buying an additional 313,643 shares during the last quarter. Tiger Global Management LLC grew its stake in shares of Zillow Group by 30.7% during the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock worth $69,849,000 after acquiring an additional 240,690 shares during the period. Finally, Virtu Financial LLC grew its stake in shares of Zillow Group by 271.9% during the 3rd quarter. Virtu Financial LLC now owns 293,718 shares of the technology company’s stock worth $21,864,000 after acquiring an additional 214,743 shares during the period. Institutional investors own 20.32% of the company’s stock.

About Zillow Group

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.