Zillow Group (NASDAQ:ZG) COO Jun Choo Sells 1,228 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) COO Jun Choo sold 1,228 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $37.95, for a total value of $46,602.60. Following the sale, the chief operating officer directly owned 107,699 shares of the company’s stock, valued at $4,087,177.05. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Price Performance

ZG stock opened at $38.06 on Friday. The business has a fifty day moving average price of $42.99 and a 200 day moving average price of $56.54. Zillow Group, Inc. has a fifty-two week low of $37.26 and a fifty-two week high of $90.22. The stock has a market capitalization of $8.71 billion, a price-to-earnings ratio of 152.24, a P/E/G ratio of 1.77 and a beta of 2.04.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. DoubleLine ETF Adviser LP grew its stake in Zillow Group by 4.9% in the third quarter. DoubleLine ETF Adviser LP now owns 3,214 shares of the technology company’s stock valued at $239,000 after acquiring an additional 150 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Zillow Group by 4.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,657 shares of the technology company’s stock valued at $256,000 after acquiring an additional 156 shares during the period. Signaturefd LLC grew its stake in Zillow Group by 10.4% in the fourth quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock valued at $117,000 after acquiring an additional 161 shares during the period. Smartleaf Asset Management LLC grew its stake in Zillow Group by 78.9% in the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock valued at $33,000 after acquiring an additional 187 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in Zillow Group by 23.1% in the third quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock valued at $80,000 after acquiring an additional 194 shares during the period. 20.32% of the stock is owned by institutional investors and hedge funds.

Key Zillow Group News

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Zillow Group in a research note on Tuesday, April 28th. Benchmark reissued a “buy” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Canaccord Genuity Group lowered their target price on Zillow Group from $72.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, May 7th. Susquehanna set a $50.00 target price on Zillow Group in a research note on Thursday, February 12th. Finally, UBS Group lowered their target price on Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Zillow Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.24.

About Zillow Group

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.