Zillow Group (NASDAQ:Z) Stock Price Down 4.5% - Should You Sell?

Key Points

• Zillow Group's stock price fell by 4.5%, reaching $73.36 after trading as low as $74.00, with a significant decline in trading volume.
• Analysts have mixed views on the stock, with JPMorgan Chase raising its target price to $94.00 while Weiss Ratings has maintained a "sell" rating; the stock holds an average rating of "Moderate Buy" with a consensus price target of $90.38.
• Insider activity shows a trend of significant sales, with the COO and CFO each reducing their ownership stakes, indicating potential concerns about the company’s future performance.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report)'s share price dropped 4.5% on Monday . The stock traded as low as $74.00 and last traded at $73.36. Approximately 954,089 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 2,719,602 shares. The stock had previously closed at $76.79.

Analyst Ratings Changes

Several equities analysts recently commented on Z shares. JPMorgan Chase & Co. boosted their target price on Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Zillow Group in a research report on Saturday, September 27th. Mizuho upgraded Zillow Group to a "strong-buy" rating in a report on Monday, September 29th. Bank of America upped their price target on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Sanford C. Bernstein upgraded Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price objective on the stock in a research report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Zillow Group presently has an average rating of "Moderate Buy" and a consensus price target of $90.38.

Zillow Group Price Performance

The firm has a market capitalization of $17.93 billion, a P/E ratio of -284.62, a P/E/G ratio of 21.38 and a beta of 2.13. The firm has a 50-day moving average price of $83.03 and a two-hundred day moving average price of $74.21.

Insider Activity at Zillow Group

In related news, COO Jun Choo sold 45,710 shares of Zillow Group stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $85.21, for a total transaction of $3,894,949.10. Following the transaction, the chief operating officer directly owned 117,098 shares of the company's stock, valued at $9,977,920.58. This trade represents a 28.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jeremy Hofmann sold 25,000 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $89.99, for a total transaction of $2,249,750.00. Following the completion of the sale, the chief financial officer owned 84,146 shares in the company, valued at $7,572,298.54. This represents a 22.91% 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 over the last three months. Corporate insiders own 23.76% of the company's stock.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently modified their holdings of the business. TD Private Client Wealth LLC grew its holdings 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 worth $32,000 after buying an additional 352 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Zillow Group by 288.9% during the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 338 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Zillow Group by 58.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 185 shares during the last quarter. National Pension Service grew its holdings in shares of Zillow Group by 74.8% in the first quarter. National Pension Service now owns 577 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 247 shares during the period. Finally, GAMMA Investing LLC raised its stake in Zillow Group by 47.7% during the first quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock worth $42,000 after purchasing an additional 196 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.

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.

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