Zillow Group (NASDAQ:ZG) CAO Jennifer Rock Sells 1,034 Shares

Zillow Group, Inc. (NASDAQ:ZG) CAO Jennifer Rock sold 1,034 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $37.99, for a total value of $39,281.66. Following the transaction, the chief accounting officer owned 59,742 shares in the company, valued at $2,269,598.58. The trade was a 1.70% decrease in their position. The transaction was disclosed in a document filed 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 Trading Up 0.5%

NASDAQ ZG opened at $38.06 on Friday. The business’s 50 day moving average is $42.99 and its two-hundred day moving average is $56.54. Zillow Group, Inc. has a 12-month low of $37.26 and a 12-month high of $90.22. The stock has a market capitalization of $8.71 billion, a price-to-earnings ratio of 152.24, a PEG ratio of 1.77 and a beta of 2.04.

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

Trending Headlines about Zillow Group

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

Institutional Trading of Zillow Group

Several large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Zillow Group in the fourth quarter valued at $152,050,000. Independent Franchise Partners LLP grew its position in shares of Zillow Group by 1.1% in the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after purchasing an additional 21,862 shares during the last quarter. M&T Bank Corp grew its position in shares of Zillow Group by 38,344.0% in the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after purchasing an additional 1,600,097 shares during the last quarter. Tiger Global Management LLC grew its position in shares of Zillow Group by 30.7% in the fourth quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock valued at $69,849,000 after purchasing an additional 240,690 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Zillow Group by 44.5% during the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock worth $69,489,000 after purchasing an additional 313,643 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ZG shares. DA Davidson set a $75.00 price objective on shares of Zillow Group in a research note on Thursday, February 12th. Robert W. Baird reduced their price objective on shares of Zillow Group from $67.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Barclays reduced their price objective on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Susquehanna set a $50.00 price objective on shares of Zillow Group in a research note on Thursday, February 12th. Finally, Citigroup reduced their price objective on shares of Zillow Group from $78.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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.