Insider Selling: Zillow Group (NASDAQ:ZG) General Counsel Sells 3,364 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) General Counsel Bradley Owens sold 3,364 shares of Zillow Group stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $37.23, for a total value of $125,241.72. Following the completion of the sale, the general counsel owned 65,245 shares of the company’s stock, valued at $2,429,071.35. The trade was a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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.

Zillow Group Stock Up 0.5%

Shares of Zillow Group stock traded up $0.20 during trading hours on Friday, reaching $38.06. 1,220,684 shares of the stock traded hands, compared to its average volume of 1,106,949. The company has a 50 day moving average price of $43.15 and a 200 day moving average price of $56.67. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 152.24, a P/E/G ratio of 1.82 and a beta of 2.04. Zillow Group, Inc. has a one year low of $37.26 and a one year high of $90.22.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.17 million. During the same period in the previous year, the company posted $0.41 EPS. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. Sell-side analysts anticipate that Zillow Group, Inc. will post 0.82 earnings per share for the current year.

Institutional Trading of Zillow Group

Large investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in Zillow Group by 78.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after acquiring an additional 187 shares during the last quarter. Arax Advisory Partners increased its stake in Zillow Group by 402.3% in the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after acquiring an additional 354 shares during the last quarter. First Command Advisory Services Inc. bought a new stake in Zillow Group in the 4th quarter worth approximately $34,000. Kestra Advisory Services LLC bought a new stake in Zillow Group in the 4th quarter worth approximately $47,000. Finally, Quarry LP bought a new stake in Zillow Group in the 4th quarter worth approximately $56,000. Institutional investors own 20.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ZG shares. Zacks Research raised Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. Evercore reissued an “outperform” rating on shares of Zillow Group in a report on Tuesday, March 17th. DA Davidson set a $75.00 price target on Zillow Group in a report on Thursday, February 12th. Robert W. Baird lowered their price target on Zillow Group from $67.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Finally, Barclays lowered their price target on Zillow Group from $58.00 to $54.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Zillow Group has an average rating of “Moderate Buy” and a consensus target price of $71.24.

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.