Zillow Group (NASDAQ:ZG) Stock Moved Down to “Strong Sell” by Zacks Research

Zillow Group (NASDAQ:ZG) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday, Zacks reports.

ZG has been the subject of a number of other reports. Susquehanna decreased their target price on shares of Zillow Group from $38.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, November 6th. Sanford C. Bernstein cut their price target on Zillow Group from $38.00 to $34.00 and set a “market perform” rating on the stock in a research report on Thursday, November 5th. Evercore reiterated a “reduce” rating and set a $35.00 price objective on shares of Zillow Group in a research note on Thursday, November 5th. DA Davidson reduced their price objective on Zillow Group from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Citizens Jmp lowered their target price on Zillow Group from $46.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Thursday, November 5th. Nine research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Zillow Group presently has a consensus rating of “Hold” and an average price target of $47.67.

Zillow Group Stock Performance

Shares of NASDAQ ZG traded up $1.00 during mid-day trading on Thursday, hitting $30.11. The stock had a trading volume of 990,867 shares, compared to its average volume of 1,250,431. The company has a 50 day moving average of $31.03 and a two-hundred day moving average of $37.59. Zillow Group has a twelve month low of $27.25 and a twelve month high of $74.80. The firm has a market cap of $6.77 billion, a PE ratio of -57.90, a PEG ratio of 1.47 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Wednesday, November 4th. The technology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). Zillow Group had a negative net margin of 3.95% and a positive return on equity of 3.23%. The firm had revenue of $724.00 million during the quarter, compared to analysts’ expectations of $753.66 million. During the same quarter in the prior year, the company earned $0.44 EPS. Zillow Group’s quarterly revenue was up 7.1% on a year-over-year basis. Equities research analysts predict that Zillow Group will post 0.77 EPS for the current fiscal year.

Insider Activity

In related news, CFO Jeremy Hofmann sold 5,661 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the transaction, the chief financial officer owned 59,144 shares of the company’s stock, valued at approximately $2,021,541.92. This represents a 8.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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. Also, CEO Jeremy Wacksman sold 9,339 shares of the firm’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 value of $319,207.02. Following the completion of the sale, the chief executive officer directly owned 138,574 shares in the company, valued at approximately $4,736,459.32. The trade was a 6.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last 90 days, insiders sold 16,979 shares of company stock valued at $583,370. Insiders own 29.88% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Zillow Group by 183.6% during the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after purchasing an additional 637 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Zillow Group by 4.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 15,433 shares of the technology company’s stock worth $639,000 after purchasing an additional 699 shares during the last quarter. NewEdge Advisors LLC boosted its position in Zillow Group by 6.7% during the 1st quarter. NewEdge Advisors LLC now owns 11,071 shares of the technology company’s stock valued at $458,000 after purchasing an additional 699 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Zillow Group during the 2nd quarter valued at approximately $29,000. Finally, Fifth Third Bancorp increased its position in Zillow Group by 990.3% in the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock worth $42,000 after buying an additional 921 shares during the period. Hedge funds and other institutional investors own 20.32% of the company’s stock.

About Zillow Group

Zillow Group, Inc. operates a digital real estate marketplace focused primarily on the United States. Its websites and mobile apps help consumers find homes for sale and rent, explore neighborhood information, and research home values. The company’s brands include Zillow, Trulia, StreetEasy and HotPads. Zillow Group also provides services for real estate professionals, including advertising and customer-management tools, and offers mortgage services through Zillow Home Loans. Zillow launched in 2006, founded by Rich Barton and Lloyd Frink, and grew into a parent company with multiple real estate brands and services.