Zillow Group (NASDAQ:ZG) Stock Price Down 4.7% - What's Next?

Key Points

• Zillow Group's stock fell 4.7% to $70.88, with trading volume down 72% compared to its average, indicating a significant drop in investor activity.
• Analysts have mixed views on Zillow Group, with a consensus rating of "Moderate Buy" and a target price averaging around $86.92, influenced by upgrades and downgrades from various brokerages.
• In the last ninety days, insiders sold a total of 657,087 shares of Zillow Group, raising concerns about insider confidence as they now own 17.14% of the stock.

Shares of Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) fell 4.7% on Monday . The company traded as low as $71.58 and last traded at $70.88. 163,121 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 576,139 shares. The stock had previously closed at $74.39.

Analyst Ratings Changes

A number of brokerages recently weighed in on ZG. Zelman & Associates upgraded shares of Zillow Group to a "hold" rating in a research report on Friday, August 8th. Piper Sandler increased their target price on shares of Zillow Group from $82.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Mizuho assumed coverage on shares of Zillow Group in a report on Monday, September 29th. They issued an "outperform" rating and a $100.00 price target for the company. Royal Bank Of Canada upped their price objective on shares of Zillow Group from $88.00 to $95.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company reduced their target price on Zillow Group from $75.00 to $73.00 and set an "equal weight" rating on the stock in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Zillow Group presently has an average rating of "Moderate Buy" and a consensus price target of $86.92.

Zillow Group Stock Performance

The firm has a market capitalization of $17.33 billion, a P/E ratio of -275.12, a PEG ratio of 20.72 and a beta of 2.11. The firm's 50-day moving average is $80.11 and its 200 day moving average is $72.15.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). The firm had revenue of $655.00 million during the quarter, compared to analyst estimates of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 EPS. As a group, research analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Transactions at Zillow Group

In other Zillow Group news, Director April Underwood sold 3,621 shares of the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $90.12, for a total transaction of $326,324.52. Following the sale, the director directly owned 483 shares of the company's stock, valued at $43,527.96. The trade was a 88.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Erik C. Blachford sold 966 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $81.91, for a total value of $79,125.06. Following the sale, the director owned 34,508 shares in the company, valued at $2,826,550.28. The trade was a 2.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 657,087 shares of company stock worth $56,286,479. 17.14% of the stock is owned by insiders.

Institutional Trading of Zillow Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Zillow Group by 38.0% in the first quarter. GAMMA Investing LLC now owns 1,828 shares of the technology company's stock valued at $122,000 after acquiring an additional 503 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Zillow Group by 60.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,044 shares of the technology company's stock valued at $404,000 after purchasing an additional 2,288 shares during the last quarter. Trexquant Investment LP bought a new position in Zillow Group during the first quarter worth about $370,000. SG Americas Securities LLC increased its position in Zillow Group by 253.3% during the first quarter. SG Americas Securities LLC now owns 20,980 shares of the technology company's stock worth $1,403,000 after buying an additional 15,042 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Zillow Group by 8.0% in the first quarter. Rhumbline Advisers now owns 51,030 shares of the technology company's stock valued at $3,412,000 after buying an additional 3,765 shares during the period. 20.32% of the stock is 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.

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