Zillow Group (NASDAQ:Z) Stock Crosses Below Fifty Day Moving Average – What’s Next?

Zillow Group, Inc. (NASDAQ:Z)’s stock price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $30.59 and traded as low as $28.37. Zillow Group shares last traded at $28.98, with a volume of 5,976,912 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on Z shares. Weiss Ratings cut shares of Zillow Group from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday. JPMorgan Chase & Co. cut their price objective on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a research note on Thursday, November 5th. Keefe, Bruyette & Woods lowered their target price on Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a report on Friday, August 7th. Finally, Wall Street Zen lowered Zillow Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Zillow Group currently has a consensus rating of “Hold” and a consensus price target of $57.71.

Zillow Group Trading Down 5.5%

The firm has a market capitalization of $6.52 billion, a PE ratio of -55.73, a PEG ratio of 2.03 and a beta of 1.98. The business has a fifty day moving average price of $30.59 and a two-hundred day moving average price of $37.89.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). The business had revenue of $724.00 million for the quarter, compared to analyst estimates of $753.54 million. Zillow Group had a positive return on equity of 3.23% and a negative net margin of 3.95%. On average, equities analysts forecast that Zillow Group, Inc. will post 0.91 earnings per share for the current fiscal year.

Insider Activity at Zillow Group

In other news, insider Errol G. Samuelson sold 3,154 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $107,992.96. Following the sale, the insider directly owned 130,885 shares of the company’s stock, valued at approximately $4,481,502.40. The trade was a 2.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeremy Hofmann sold 5,661 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.18, for a total transaction of $193,492.98. Following the completion of the sale, the chief financial officer directly owned 59,144 shares in the company, valued at $2,021,541.92. This trade represents a 8.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 37,352 shares of company stock valued at $1,284,523 over the last quarter. 23.76% of the stock is owned by insiders.

Institutional Trading of Zillow Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in Z. Ieq Capital LLC boosted its position in shares of Zillow Group by 29.2% during the third quarter. Ieq Capital LLC now owns 76,036 shares of the financial services provider’s stock worth $2,063,000 after buying an additional 17,164 shares during the period. Voya Investment Management LLC grew its stake in shares of Zillow Group by 267.6% in the third quarter. Voya Investment Management LLC now owns 46,622 shares of the financial services provider’s stock valued at $1,265,000 after buying an additional 33,939 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Zillow Group by 940.5% in the third quarter. Global Retirement Partners LLC now owns 5,962 shares of the financial services provider’s stock valued at $162,000 after buying an additional 5,389 shares in the last quarter. Rothschild Investment LLC raised its holdings in shares of Zillow Group by 112.8% in the 3rd quarter. Rothschild Investment LLC now owns 3,800 shares of the financial services provider’s stock valued at $103,000 after buying an additional 2,014 shares during the period. Finally, Cibc World Market Inc. raised its holdings in shares of Zillow Group by 4.1% in the 3rd quarter. Cibc World Market Inc. now owns 27,174 shares of the financial services provider’s stock valued at $737,000 after buying an additional 1,069 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc. operates a collection of digital real estate brands, including Zillow, Trulia, StreetEasy and HotPads. Its platforms help consumers search for homes to buy or rent, explore neighborhoods and connect with real estate professionals. The company also offers services and tools for real estate agents, landlords and other industry participants, along with mortgage and home transaction services. Zillow’s Zestimate provides an estimate of a home’s value, while its rental products support apartment and home searches and connections between renters and property managers.