Zillow Group (NASDAQ:Z) Share Price Crosses Below 50-Day Moving Average – What’s Next?

Zillow Group, Inc. (NASDAQ:Z)’s share price crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty 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 changing hands.

Wall Street Analyst Weigh In

Z has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Sanford C. Bernstein lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Wall Street Zen cut Zillow Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Keefe, Bruyette & Woods decreased their price objective on Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a research note on Friday, August 7th. Finally, KeyCorp cut Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Zillow Group presently has an average rating of “Hold” and a consensus target price of $57.71.

Zillow Group Price Performance

The firm’s 50 day moving average is $30.39 and its 200 day moving average is $37.49. The company has a market cap of $6.48 billion, a PE ratio of 46.78, a PEG ratio of 1.95 and a beta of 1.98.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). The firm had revenue of $724.00 million during the quarter, compared to the consensus estimate of $753.54 million. Zillow Group had a negative net margin of 3.95% and a positive return on equity of 3.23%. As a group, analysts anticipate that Zillow Group, Inc. will post 0.91 EPS for the current year.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 3,169 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $35.37, for a total value of $112,087.53. Following the sale, the insider owned 44,561 shares of the company’s stock, valued at $1,576,122.57. This trade represents a 6.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 dated 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 position. 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. Insiders sold 20,148 shares of company stock valued at $695,458 over the last 90 days. Insiders own 25.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its stake in Zillow Group by 106.8% in the first quarter. The Manufacturers Life Insurance Company now owns 41,519 shares of the financial services provider’s stock valued at $1,718,000 after purchasing an additional 21,439 shares in the last quarter. Tiger Global Management LLC grew its stake in Zillow Group by 21.7% in the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock worth $304,927,000 after buying an additional 1,312,000 shares in the last quarter. Emmett Investment Management LP grew its stake in Zillow Group by 353.9% in the 1st quarter. Emmett Investment Management LP now owns 96,236 shares of the financial services provider’s stock worth $3,897,000 after buying an additional 75,036 shares in the last quarter. Weiss Asset Management LP bought a new position in shares of Zillow Group in the 1st quarter worth $1,743,000. Finally, Coronation Fund Managers Ltd. increased its holdings in shares of Zillow Group by 130.6% in the 1st quarter. Coronation Fund Managers Ltd. now owns 349,503 shares of the financial services provider’s stock worth $14,462,000 after buying an additional 197,948 shares during the last quarter. 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.