Zillow Group (NASDAQ:ZG) Sets New 1-Year Low - Time to Sell?

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $27.73 and last traded at $28.01, with a volume of 1464959 shares. The stock had previously closed at $28.15.

Analysts Set New Price Targets

A number of research firms recently issued reports on ZG. Piper Sandler lowered their target price on shares of Zillow Group from $55.00 to $46.00 and set an "overweight" rating for the company in a report on Friday, August 7th. The Goldman Sachs Group decreased their price target on shares of Zillow Group from $53.00 to $40.00 and set a "neutral" rating on the stock in a report on Friday, June 12th. Zacks Research cut shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. UBS Group lowered their price objective on shares of Zillow Group from $75.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. dropped their price objective on Zillow Group from $76.00 to $62.00 and set an "overweight" rating for the company in a report on Tuesday, August 11th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $53.14.

Zillow Group Stock Performance

The stock has a fifty day moving average price of $33.70 and a 200-day moving average price of $36.58. The firm has a market cap of $6.30 billion, a PE ratio of 127.32, a PEG ratio of 1.23 and a beta of 1.97.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.44 by $0.08. The firm had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.25 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. Zillow Group's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 earnings per share. As a group, equities analysts predict that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jeremy Wacksman sold 9,339 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.18, for a total transaction of $319,207.02. Following the completion of the sale, the chief executive officer directly owned 138,574 shares of the company's stock, valued at approximately $4,736,459.32. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 3,169 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $35.37, for a total value of $112,087.53. Following the completion of the sale, the insider owned 44,561 shares of the company's stock, valued at approximately $1,576,122.57. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 38,539 shares of company stock worth $1,323,800. 29.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Lido Advisors LLC grew its stake in shares of Zillow Group by 0.4% during the fourth quarter. Lido Advisors LLC now owns 50,846 shares of the technology company's stock valued at $3,627,000 after acquiring an additional 215 shares in the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Zillow Group in the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC boosted its holdings in Zillow Group by 183.6% in the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company's stock valued at $41,000 after purchasing an additional 637 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Zillow Group by 4.7% in the first quarter. Public Employees Retirement System of Ohio now owns 15,433 shares of the technology company's stock valued at $639,000 after purchasing an additional 699 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in Zillow Group by 6.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,071 shares of the technology company's stock valued at $458,000 after purchasing an additional 699 shares in the last quarter. Hedge funds and other institutional investors own 20.32% of the company's stock.

About Zillow Group

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers and real estate professionals. Its flagship Zillow platform provides property listings, home-value estimates, neighborhood information, mortgage resources and tools that help people buy, sell, rent and finance homes.

The company's portfolio also includes Trulia, StreetEasy, HotPads and Zillow Rentals, which serve home shoppers and renters in markets across the United States.

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