Zillow Group (NASDAQ:ZG) Shares Gap Down – Here’s Why

Zillow Group, Inc. (NASDAQ:ZG)’s share price gapped down prior to trading on Monday . The stock had previously closed at $72.38, but opened at $67.00. Zillow Group shares last traded at $65.1190, with a volume of 247,278 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ZG shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, October 8th. Mizuho began coverage on shares of Zillow Group in a research note on Monday, September 29th. They issued an “outperform” rating and a $100.00 price objective for the company. Oppenheimer started coverage on Zillow Group in a research report on Monday, October 6th. They set a “market perform” rating on the stock. Gordon Haskett raised Zillow Group from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Friday, October 3rd. Finally, DA Davidson reissued a “buy” rating and issued a $95.00 target price on shares of Zillow Group in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $87.09.

Zillow Group Price Performance

The business’s 50 day simple moving average is $70.60 and its 200 day simple moving average is $74.04. The company has a market capitalization of $16.68 billion, a price-to-earnings ratio of -492.25, a price-to-earnings-growth ratio of 26.21 and a beta of 2.06.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Thursday, October 30th. The technology company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The company had revenue of $676.00 million for the quarter, compared to analysts’ expectations of $670.28 million. Zillow Group had a negative return on equity of 0.56% and a negative net margin of 1.29%.The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 EPS. As a group, analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO David A. Beitel sold 3,893 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $71.12, for a total value of $276,870.16. Following the transaction, the chief technology officer owned 140,656 shares of the company’s stock, valued at approximately $10,003,454.72. The trade was a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Errol G. Samuelson sold 7,641 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $71.13, for a total value of $543,504.33. Following the sale, the insider directly owned 120,815 shares of the company’s stock, valued at approximately $8,593,570.95. This represents a 5.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 67,511 shares of company stock worth $4,766,357. 17.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ZG. Vanguard Personalized Indexing Management LLC grew its position in shares of Zillow Group by 3.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,550 shares of the technology company’s stock valued at $312,000 after purchasing an additional 131 shares during the period. DoubleLine ETF Adviser LP increased its stake in shares of Zillow Group by 4.9% during the 3rd quarter. DoubleLine ETF Adviser LP now owns 3,214 shares of the technology company’s stock valued at $239,000 after acquiring an additional 150 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of Zillow Group by 2.8% during the 1st quarter. Voya Investment Management LLC now owns 5,778 shares of the technology company’s stock worth $386,000 after acquiring an additional 156 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Zillow Group by 4.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,657 shares of the technology company’s stock worth $256,000 after acquiring an additional 156 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Zillow Group by 78.9% in the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock valued at $33,000 after purchasing an additional 187 shares during the period. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Company Profile

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.