Zillow Group (ZG) to Release Earnings on Wednesday

Zillow Group (NASDAQ:ZG) is projected to post its results after the market closes on Wednesday, August 5th. Analysts expect Zillow Group to announce earnings of $0.44 per share and revenue of $758.0240 million for the quarter.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.10. The company had revenue of $708.00 million during 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 business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 EPS. On average, analysts expect Zillow Group to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Zillow Group Price Performance

ZG stock opened at $34.69 on Monday. The company has a market cap of $7.94 billion, a price-to-earnings ratio of 138.76, a PEG ratio of 1.48 and a beta of 1.95. The business has a fifty day simple moving average of $33.23 and a 200-day simple moving average of $42.48. Zillow Group has a 52 week low of $29.03 and a 52 week high of $90.22.

Insider Buying and Selling

In other news, CFO Jeremy Hofmann sold 5,501 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $205,737.40. Following the completion of the sale, the chief financial officer directly owned 68,315 shares in the company, valued at $2,554,981. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Errol G. Samuelson sold 2,939 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $37.97, for a total value of $111,593.83. Following the sale, the insider owned 134,039 shares of the company’s stock, valued at approximately $5,089,460.83. This trade represents a 2.15% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 42,910 shares of company stock worth $1,605,732 over the last quarter. Company insiders own 29.88% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Zillow Group by 40.5% in the first quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock worth $862,000 after purchasing an additional 3,717 shares during the period. Millennium Management LLC raised its holdings in shares of Zillow Group by 110.8% during the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock worth $19,456,000 after purchasing an additional 152,955 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Zillow Group by 7.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock worth $5,878,000 after purchasing an additional 5,737 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Zillow Group by 5.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company’s stock worth $1,445,000 after buying an additional 1,150 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Zillow Group by 16.3% in the 2nd quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company’s stock worth $543,000 after buying an additional 1,110 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ZG. Mizuho lowered their price target on Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Barclays reduced their price objective on Zillow Group from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Zacks Research upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. BTIG Research reissued a “neutral” rating on shares of Zillow Group in a research report on Thursday, June 11th. Finally, Piper Sandler cut their price target on shares of Zillow Group from $70.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Zillow Group has an average rating of “Moderate Buy” and a consensus price target of $68.29.

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.