Zillow Group (NASDAQ:Z) Shares Gap Down – Time to Sell?

Zillow Group, Inc. (NASDAQ:Z) shares gapped down prior to trading on Monday . The stock had previously closed at $74.71, but opened at $68.87. Zillow Group shares last traded at $67.0440, with a volume of 1,839,886 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on Z shares. Gordon Haskett raised Zillow Group to a “strong-buy” rating in a research report on Friday, October 3rd. Oppenheimer started coverage on Zillow Group in a research report on Monday, October 6th. They set a “market perform” rating for the company. JPMorgan Chase & Co. upped their target price on Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, October 8th. Finally, Mizuho raised Zillow Group to a “strong-buy” rating in a research note on Monday, September 29th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.14.

Zillow Group Price Performance

The stock’s 50-day simple moving average is $73.12 and its two-hundred day simple moving average is $76.49. The firm has a market cap of $16.42 billion, a P/E ratio of -483.92, a PEG ratio of 29.38 and a beta of 2.10.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.02). The firm had revenue of $729.00 million for the quarter, compared to analysts’ expectations of $670.28 million. Zillow Group had a negative net margin of 1.29% and a negative return on equity of 0.56%. As a group, sell-side analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insider Activity at Zillow Group

In other Zillow Group news, General Counsel Bradley D. Owens sold 2,722 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $67.41, for a total transaction of $183,490.02. Following the transaction, the general counsel owned 37,974 shares of the company’s stock, valued at approximately $2,559,827.34. The trade was a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Dan Spaulding sold 5,455 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $69.40, for a total transaction of $378,577.00. Following the transaction, the insider directly owned 50,342 shares in the company, valued at approximately $3,493,734.80. The trade was a 9.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 67,511 shares of company stock valued at $4,766,357 in the last quarter. 23.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. boosted its stake in shares of Zillow Group by 71.6% during the first quarter. Invesco Ltd. now owns 502,403 shares of the financial services provider’s stock valued at $34,445,000 after acquiring an additional 209,614 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Zillow Group in the first quarter valued at $24,709,000. Resona Asset Management Co. Ltd. increased its stake in Zillow Group by 7.8% in the first quarter. Resona Asset Management Co. Ltd. now owns 47,869 shares of the financial services provider’s stock valued at $3,283,000 after purchasing an additional 3,466 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Zillow Group by 213.1% during the first quarter. Russell Investments Group Ltd. now owns 65,795 shares of the financial services provider’s stock worth $4,511,000 after buying an additional 44,781 shares during the period. Finally, National Pension Service boosted its stake in Zillow Group by 74.8% in the 1st quarter. National Pension Service now owns 577 shares of the financial services provider’s stock worth $40,000 after buying an additional 247 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

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.