Zillow Group (NASDAQ:ZG) Stock Price Down 4.7% – Should You Sell?

Zillow Group, Inc. (NASDAQ:ZG)’s share price dropped 4.7% on Thursday . The company traded as low as $33.21 and last traded at $32.5010. Approximately 454,271 shares were traded during trading, a decline of 59% from the average daily volume of 1,115,446 shares. The stock had previously closed at $34.10.

Analyst Ratings Changes

ZG has been the topic of a number of research reports. BTIG Research reiterated a “neutral” rating on shares of Zillow Group in a research report on Friday, May 22nd. KeyCorp cut their target price on Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. The Goldman Sachs Group set a $53.00 price target on Zillow Group in a research report on Thursday, May 7th. Wells Fargo & Company decreased their price target on Zillow Group from $60.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Finally, Cantor Fitzgerald decreased their price target on Zillow Group from $56.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, March 25th. Thirteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $70.05.

Zillow Group Stock Performance

The business has a 50 day simple moving average of $40.26 and a 200-day simple moving average of $52.21. The stock has a market capitalization of $7.45 billion, a P/E ratio of 130.07, a price-to-earnings-growth ratio of 1.53 and a beta of 1.94.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.10. The business had revenue of $708.00 million during the quarter, compared to analyst estimates of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company’s revenue was up 18.4% compared to the same quarter last year. During the same period last year, the company posted $0.41 EPS. Equities research analysts forecast that Zillow Group, Inc. will post 0.9 EPS for the current fiscal year.

Insider Buying and Selling at Zillow Group

In other news, insider Dan Spaulding sold 3,078 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $115,117.20. Following the completion of the sale, the insider directly owned 49,696 shares of the company’s stock, valued at $1,858,630.40. This trade represents a 5.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 9,072 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $36.54, for a total value of $331,490.88. Following the sale, the chief executive officer directly owned 153,699 shares of the company’s stock, valued at approximately $5,616,161.46. This represents a 5.57% 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. Over the last quarter, insiders sold 42,910 shares of company stock worth $1,605,732. 29.88% of the stock is owned by insiders.

Institutional Investors Weigh In On Zillow Group

Large investors have recently modified their holdings of the stock. DoubleLine ETF Adviser LP lifted its holdings in shares of Zillow Group by 4.9% in the third quarter. DoubleLine ETF Adviser LP now owns 3,214 shares of the technology company’s stock valued at $239,000 after purchasing an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings 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 valued at $256,000 after purchasing an additional 156 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Zillow Group by 10.4% in the fourth quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock valued at $117,000 after purchasing an additional 161 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of 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 in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Zillow Group by 23.1% in the third quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock valued at $80,000 after purchasing an additional 194 shares in the last quarter. 20.32% of the stock is owned by institutional investors.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.