Zillow Group (NASDAQ:Z) Stock Crosses Below Fifty Day Moving Average - What's Next?

Key Points

• Zillow shares fell below their 50-day moving average of $30.59, trading as low as $28.37 and last at $28.98; the article reports a 5.5% decline.
• Zillow missed quarterly expectations, reporting EPS of $0.55 versus $0.58 forecast and revenue of $724 million versus analysts’ $753.54 million estimate.
• Analyst sentiment is mostly neutral: the consensus rating is Hold, with an average price target of $57.71; one analyst rates the stock Strong Buy, five Buy, nine Hold and one Sell.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) shares passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $30.59 and traded as low as $28.37. Zillow Group shares last traded at $28.98, with a volume of 5,976,912 shares.

Wall Street Analyst Weigh In

Z has been the topic of a number of analyst reports. KeyCorp cut shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a research note on Sunday. Needham & Company LLC reiterated a "hold" rating on shares of Zillow Group in a research note on Thursday, November 5th. Wall Street Zen downgraded shares of Zillow Group from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Sanford C. Bernstein downgraded shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. Finally, Weiss Ratings lowered shares of Zillow Group from a "sell (d)" rating to a "sell (e+)" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $57.71.

Zillow Group Trading Down 5.5%

The company has a market cap of $6.52 billion, a PE ratio of -55.73, a price-to-earnings-growth ratio of 2.03 and a beta of 1.98. The firm's fifty day moving average is $30.59 and its 200 day moving average is $37.89.

Zillow Group (NASDAQ:Z - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). The company had revenue of $724.00 million for the quarter, compared to analysts' expectations of $753.54 million. Zillow Group had a negative net margin of 3.95% and a positive return on equity of 3.23%. As a group, sell-side analysts anticipate that Zillow Group, Inc. will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In related news, insider Dan Spaulding sold 3,169 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $35.37, for a total value of $112,087.53. Following the transaction, the insider directly owned 44,561 shares of the company's stock, valued at approximately $1,576,122.57. This trade represents a 6.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 Zillow Group stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the sale, the chief financial officer 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. Over the last ninety days, insiders have sold 37,352 shares of company stock valued at $1,284,523. Corporate insiders own 23.76% of the company's stock.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently made changes to their positions in the company. Ieq Capital LLC raised its stake in Zillow Group by 29.2% in the 3rd quarter. Ieq Capital LLC now owns 76,036 shares of the financial services provider's stock valued at $2,063,000 after purchasing an additional 17,164 shares during the last quarter. Voya Investment Management LLC lifted its holdings in Zillow Group by 267.6% in the 3rd quarter. Voya Investment Management LLC now owns 46,622 shares of the financial services provider's stock valued at $1,265,000 after purchasing an additional 33,939 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Zillow Group by 940.5% during the 3rd quarter. Global Retirement Partners LLC now owns 5,962 shares of the financial services provider's stock worth $162,000 after purchasing an additional 5,389 shares during the last quarter. Rothschild Investment LLC boosted its stake in Zillow Group by 112.8% during the 3rd quarter. Rothschild Investment LLC now owns 3,800 shares of the financial services provider's stock worth $103,000 after purchasing an additional 2,014 shares during the last quarter. Finally, Cibc World Market Inc. boosted its stake in Zillow Group by 4.1% during the 3rd quarter. Cibc World Market Inc. now owns 27,174 shares of the financial services provider's stock worth $737,000 after purchasing an additional 1,069 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Zillow Group Company Profile

Zillow Group, Inc. operates a collection of digital real estate brands, including Zillow, Trulia, StreetEasy and HotPads. Its platforms help consumers search for homes to buy or rent, explore neighborhoods and connect with real estate professionals. The company also offers services and tools for real estate agents, landlords and other industry participants, along with mortgage and home transaction services. Zillow's Zestimate provides an estimate of a home's value, while its rental products support apartment and home searches and connections between renters and property managers.

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