Zillow Group (NASDAQ:Z) Stock Price Down 5.6% - Time to Sell?

Key Points

• Zillow Group's stock price fell by 5.6% to $81.87, with a significant trading volume of approximately 2.85 million shares exchanged.
• Analysts have varying price targets for Zillow, with Bank of America setting a target of $88, and Sanford C. Bernstein a target of $105, indicating a generally positive outlook.
• Recent insider trading includes sales by COO Jun Choo and Director Erik C. Blachford, decreasing their ownership stakes in the company.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report)'s share price fell 5.6% during mid-day trading on Monday . The company traded as low as $82.03 and last traded at $81.87. 2,849,594 shares traded hands during trading, an increase of 6% from the average session volume of 2,677,524 shares. The stock had previously closed at $86.74.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on Z. JPMorgan Chase & Co. increased their price objective on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Sanford C. Bernstein upgraded shares of Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price target on the stock in a research note on Wednesday, September 17th. Finally, Bank of America raised their price target on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $90.38.

Zillow Group Trading Down 1.6%

The stock's fifty day moving average is $83.40 and its two-hundred day moving average is $73.75. The company has a market capitalization of $19.32 billion, a PE ratio of -306.69, a P/E/G ratio of 24.15 and a beta of 2.04.

Insiders Place Their Bets

In related news, CTO David A. Beitel sold 22,510 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $90.97, for a total value of $2,047,734.70. Following the sale, the chief technology officer directly owned 144,549 shares in the company, valued at approximately $13,149,622.53. The trade was a 13.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Erik C. Blachford sold 966 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $81.91, for a total value of $79,125.06. Following the completion of the sale, the director owned 34,508 shares in the company, valued at $2,826,550.28. This represents a 2.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 657,087 shares of company stock worth $56,286,479 in the last ninety days. 23.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. TD Private Client Wealth LLC increased its position in shares of Zillow Group by 352.0% during the second quarter. TD Private Client Wealth LLC now owns 452 shares of the financial services provider's stock valued at $32,000 after buying an additional 352 shares during the period. IFP Advisors Inc increased its position in shares of Zillow Group by 288.9% during the first quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after buying an additional 338 shares during the period. SBI Securities Co. Ltd. increased its position in shares of Zillow Group by 58.2% during the second quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider's stock valued at $35,000 after buying an additional 185 shares during the period. National Pension Service increased its position in shares of Zillow Group by 74.8% during the first quarter. National Pension Service now owns 577 shares of the financial services provider's stock valued at $40,000 after buying an additional 247 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Zillow Group by 47.7% during the first quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock valued at $42,000 after buying an additional 196 shares during the period. 71.01% of the stock is currently owned by institutional investors.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.