Errol Samuelson Sells 3,154 Shares of Zillow Group (NASDAQ:Z) Stock

Zillow Group, Inc. (NASDAQ:Z) insider Errol Samuelson sold 3,154 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $107,992.96. Following the completion of the sale, the insider owned 130,885 shares of the company’s stock, valued at $4,481,502.40. This trade represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Stock Up 2.5%

NASDAQ Z opened at $34.57 on Wednesday. The firm has a market capitalization of $7.77 billion, a PE ratio of 157.14, a P/E/G ratio of 1.51 and a beta of 1.98. The stock’s 50 day moving average is $32.87 and its 200 day moving average is $39.73. Zillow Group, Inc. has a twelve month low of $29.23 and a twelve month high of $93.88.

Zillow Group (NASDAQ:Z) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The firm had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.10 million. On average, research analysts anticipate that Zillow Group, Inc. will post 0.89 earnings per share for the current year.

Key Headlines Impacting Zillow Group

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

• Positive Sentiment: Rents are accelerating: Zillow’s Observed Rent Index showed typical U.S. asking rent reached $1,962 in July, up 2.3% year over year—the fastest growth in more than a year. Strong rental demand could support Zillow’s listings, advertising and property-manager businesses. Rents near $2,000, rising at the fastest pace in over a year
• Neutral Sentiment: Rental conditions are mixed: Although rents are rising, 39.8% of Zillow-listed rentals offered concessions in July, compared with 35.9% a year earlier. This suggests demand is healthy but property managers still face enough competition to provide discounts, potentially limiting revenue benefits.
• Neutral Sentiment: Insider sales were largely tax-related: Executives and insiders, including CEO Jeremy Wacksman, CFO Jeremy Hofmann, CAO Jennifer Rock, CTO David Beitel and others, sold a combined 35,373 shares worth roughly $1.21 million. The transactions occurred under a pre-arranged trading plan or to cover tax withholding on vested equity awards, reducing—but not eliminating—the bearish significance. Zillow Group insider trading report
• Negative Sentiment: Analyst views remain cautious: Recent target-price reductions and an Evercore downgrade to “hold” indicate concern about Zillow’s outlook and valuation. The consensus rating remains “Moderate Buy,” but the stock’s elevated earnings multiple and price well below its 200-day moving average highlight ongoing investor concerns.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. grew its stake in Zillow Group by 11.9% in the second quarter. Assenagon Asset Management S.A. now owns 303,930 shares of the financial services provider’s stock valued at $9,580,000 after purchasing an additional 32,387 shares during the last quarter. Arlington Partners LLC increased its stake in Zillow Group by 22.5% during the 2nd quarter. Arlington Partners LLC now owns 7,235 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 1,327 shares in the last quarter. CX Institutional acquired a new position in shares of Zillow Group in the 2nd quarter valued at $110,000. NewEdge Advisors LLC increased its holdings in shares of Zillow Group by 2.0% in the first quarter. NewEdge Advisors LLC now owns 38,052 shares of the financial services provider’s stock valued at $1,575,000 after purchasing an additional 750 shares during the period. Finally, Centaurus Financial Inc. acquired a new position in Zillow Group in the 1st quarter worth approximately $166,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Jefferies Financial Group dropped their target price on Zillow Group from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Weiss Ratings downgraded shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Zacks Research downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Evercore lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.75.

About Zillow Group

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.