Zillow Group (NASDAQ:ZG) Trading Down 5.1% - What's Next?

Key Points

• Zillow Group's stock fell 5.1%, trading around $79.38, with a volume decline of 12% from the average session.
• Several analysts reaffirmed their ratings on Zillow, with Barclays maintaining an "underweight" rating with a target price of $66.00, while Piper Sandler upgraded their target to $94.00 with an "overweight" rating.
• Insider trading activity included significant sales by Chairman Richard N. Barton and COO Jun Choo, leading to a 19.17% decrease in Barton’s ownership stake.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) fell 5.1% during mid-day trading on Monday . The company traded as low as $79.48 and last traded at $79.38. 497,324 shares changed hands during mid-day trading, a decline of 12% from the average session volume of 564,849 shares. The stock had previously closed at $83.69.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ZG. Barclays reaffirmed an "underweight" rating and set a $66.00 target price (up from $60.00) on shares of Zillow Group in a research note on Thursday, August 7th. Royal Bank Of Canada lifted their price objective on shares of Zillow Group from $88.00 to $95.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Canaccord Genuity Group lifted their price objective on shares of Zillow Group from $76.00 to $84.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Susquehanna reissued a "neutral" rating on shares of Zillow Group in a research note on Friday, August 8th. Finally, Piper Sandler lifted their price objective on shares of Zillow Group from $82.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Fourteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Zillow Group has an average rating of "Moderate Buy" and an average price target of $86.41.

Zillow Group Stock Performance

The stock has a fifty day simple moving average of $80.19 and a two-hundred day simple moving average of $71.72. The stock has a market cap of $18.94 billion, a PE ratio of -300.69, a PEG ratio of 23.31 and a beta of 2.02.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted 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). Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The firm had revenue of $655.00 million for the quarter, compared to analyst estimates of $647.06 million. During the same period in the prior year, the company posted $0.39 earnings per share. The business's revenue was up 14.5% on a year-over-year basis. On average, equities analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In related news, Chairman Richard N. Barton sold 200,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $84.92, for a total value of $16,984,000.00. Following the completion of the sale, the chairman directly owned 843,248 shares of the company's stock, valued at approximately $71,608,620.16. This represents a 19.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jun Choo sold 45,710 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $85.21, for a total value of $3,894,949.10. Following the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 657,087 shares of company stock valued at $56,286,479. Corporate insiders own 17.14% of the company's stock.

Institutional Trading of Zillow Group

Several institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers bought a new position in Zillow Group in the 4th quarter valued at $228,000. Quantinno Capital Management LP boosted its holdings in Zillow Group by 59.6% during the fourth quarter. Quantinno Capital Management LP now owns 8,384 shares of the technology company's stock worth $594,000 after buying an additional 3,130 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Zillow Group by 21.5% in the fourth quarter. Two Sigma Advisers LP now owns 14,090 shares of the technology company's stock worth $998,000 after acquiring an additional 2,490 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Zillow Group by 49.9% in the fourth quarter. Squarepoint Ops LLC now owns 23,291 shares of the technology company's stock worth $1,650,000 after acquiring an additional 7,752 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Zillow Group by 31.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,175 shares of the technology company's stock worth $5,822,000 after acquiring an additional 19,891 shares in the last quarter. Institutional investors and hedge funds own 20.32% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.