Errol Samuelson Sells 2,939 Shares of Zillow Group (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) insider Errol Samuelson sold 2,939 shares of Zillow Group stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $37.97, for a total transaction of $111,593.83. Following the completion of the transaction, the insider directly owned 134,039 shares in the company, valued at $5,089,460.83. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Price Performance

Shares of NASDAQ:ZG opened at $38.06 on Friday. The company’s 50 day simple moving average is $42.99 and its 200 day simple moving average is $56.54. The stock has a market capitalization of $8.71 billion, a price-to-earnings ratio of 152.24, a price-to-earnings-growth ratio of 1.78 and a beta of 2.04. Zillow Group, Inc. has a 1 year low of $37.26 and a 1 year high of $90.22.

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

Analyst Ratings Changes

A number of analysts have weighed in on ZG shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Zillow Group in a research note on Tuesday, April 28th. Robert W. Baird decreased their target price on shares of Zillow Group from $67.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Benchmark reaffirmed a “buy” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Citigroup decreased their target price on shares of Zillow Group from $78.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Evercore reaffirmed an “outperform” rating on shares of Zillow Group in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.24.

Zillow Group News Summary

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Zillow highlighted survey results showing most prospective home sellers want broad public exposure rather than private listing networks. The company said 85% of soon-to-be sellers are more likely to hire an agent who can pre-market to the broadest online audience, reinforcing Zillow’s core pitch that open-market listings benefit sellers. Article Title
• Positive Sentiment: Zillow also emphasized its data showing sellers lose money in same-agent dual agency deals and off-MLS listings, a message that could support demand for Zillow’s public-listing ecosystem and advertising tools. Article Title
• Neutral Sentiment: JPMorgan/other analyst commentary pointed to a lower price target for Zillow Group, suggesting Wall Street expectations have softened and may be limiting upside sentiment. Article Title
• Negative Sentiment: Multiple Zillow insiders, including the CEO, COO, CTO, CAO, general counsel, and another executive, sold shares this week. The company said the sales were mainly to cover tax withholding tied to vesting equity awards and some were made under a 10b5-1 plan, but the cluster of insider selling can still create a bearish overhang for investors. Article Title
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims against Zillow, adding legal uncertainty that may be a headwind for the stock. Article Title

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently modified their holdings of the business. DoubleLine ETF Adviser LP lifted its holdings in shares of Zillow Group by 4.9% during the third quarter. DoubleLine ETF Adviser LP now owns 3,214 shares of the technology company’s stock worth $239,000 after purchasing an additional 150 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Zillow Group by 4.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,657 shares of the technology company’s stock worth $256,000 after purchasing an additional 156 shares during the period. Signaturefd LLC lifted its holdings in shares of Zillow Group by 10.4% during the fourth quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock worth $117,000 after purchasing an additional 161 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Zillow Group by 78.9% during the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 187 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Zillow Group by 23.1% during the third quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock worth $80,000 after purchasing an additional 194 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.