Insider Selling: Zillow Group (NASDAQ:Z) CAO Sells 990 Shares

Zillow Group, Inc. (NASDAQ:Z) CAO Jennifer Rock sold 990 shares of Zillow Group stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $33,897.60. Following the completion of the sale, the chief accounting officer owned 58,752 shares of the company’s stock, valued at approximately $2,011,668.48. The trade was a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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

NASDAQ:Z traded down $1.06 during trading hours on Monday, reaching $33.72. 5,034,691 shares of the company were exchanged, compared to its average volume of 4,238,369. The company has a market capitalization of $7.72 billion, a P/E ratio of 153.28, a P/E/G ratio of 1.51 and a beta of 1.98. Zillow Group, Inc. has a 1-year low of $29.23 and a 1-year high of $93.88. The business has a 50 day moving average of $32.91 and a 200 day moving average of $40.19.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. The firm had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. As a group, equities research analysts anticipate that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Z has been the subject of a number of analyst reports. Wall Street Zen downgraded Zillow Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Keefe, Bruyette & Woods decreased their target price on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a report on Friday, August 7th. Morgan Stanley set a $60.00 target price on shares of Zillow Group in a research report on Thursday, August 6th. UBS Group cut their price target on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Finally, Royal Bank Of Canada reduced their price target on shares of Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in Z. The Manufacturers Life Insurance Company boosted its stake in shares of Zillow Group by 106.8% in the 1st 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 increased its position in Zillow Group by 21.7% during 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 purchasing an additional 1,312,000 shares in the last quarter. IFP Advisors Inc lifted its stake in Zillow Group by 17,458.4% in the 4th quarter. IFP Advisors Inc now owns 73,921 shares of the financial services provider’s stock valued at $5,043,000 after purchasing an additional 73,500 shares during the last quarter. Emmett Investment Management LP boosted its position in Zillow Group by 353.9% in the first quarter. Emmett Investment Management LP now owns 96,236 shares of the financial services provider’s stock valued at $3,897,000 after buying an additional 75,036 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new stake in Zillow Group in the first quarter valued at approximately $1,743,000. Institutional investors own 71.01% of the company’s stock.

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.