Zillow Group (NASDAQ:ZG) Stock Price Down 4.7% – Should You Sell?

Zillow Group, Inc. (NASDAQ:ZG)’s share price dropped 4.7% during trading on Thursday . The stock traded as low as $33.21 and last traded at $32.5010. Approximately 454,271 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 1,115,446 shares. The stock had previously closed at $34.10.

Wall Street Analysts Forecast Growth

ZG has been the subject of several analyst reports. Royal Bank Of Canada dropped their target price on Zillow Group to $70.00 and set an “outperform” rating for the company in a research note on Wednesday. Canaccord Genuity Group dropped their target price on Zillow Group from $72.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, May 7th. Robert W. Baird lowered their price target on Zillow Group from $67.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Wells Fargo & Company lowered their price target on Zillow Group from $60.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Finally, Cantor Fitzgerald lowered their price target on Zillow Group from $56.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, March 25th. Thirteen equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.05.

Zillow Group Price Performance

The company has a 50-day moving average price of $40.26 and a two-hundred day moving average price of $52.21. The company has a market cap of $7.45 billion, a PE ratio of 130.07, a P/E/G ratio of 1.53 and a beta of 1.94.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Wednesday, May 6th. The technology company 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 company had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.17 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. The company’s revenue was up 18.4% compared to the same quarter last year. On average, equities research analysts anticipate that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jeremy Hofmann sold 5,501 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $205,737.40. Following the transaction, the chief financial officer owned 68,315 shares in the company, valued at approximately $2,554,981. The trade was a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. Also, insider Dan Spaulding sold 3,078 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the completion of the transaction, the insider owned 49,696 shares in the company, valued at approximately $1,858,630.40. This trade represents a 5.83% decrease in their position. 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. In the last 90 days, insiders have sold 42,910 shares of company stock valued at $1,605,732. Insiders own 29.88% of the company’s stock.

Institutional Trading of Zillow Group

Several institutional investors and hedge funds have recently bought and sold shares of ZG. Smartleaf Asset Management LLC raised its position in shares of Zillow Group by 78.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 187 shares during the period. Arax Advisory Partners raised its position in shares of Zillow Group by 402.3% during the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after purchasing an additional 354 shares during the period. First Command Advisory Services Inc. acquired a new stake in shares of Zillow Group during the 4th quarter worth approximately $34,000. Kestra Advisory Services LLC acquired a new stake in shares of Zillow Group during the 4th quarter worth approximately $47,000. Finally, Quarry LP acquired a new stake in shares of Zillow Group during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds 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.