Zillow Group (NASDAQ:ZG) General Counsel Sells $85,190.78 in Stock

Zillow Group, Inc. (NASDAQ:ZG) General Counsel Bradley Owens sold 2,246 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $37.93, for a total value of $85,190.78. Following the completion of the sale, the general counsel directly owned 68,609 shares of the company’s stock, valued at $2,602,339.37. This represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.

Zillow Group Trading Up 0.5%

Shares of ZG traded up $0.20 during mid-day trading on Friday, hitting $38.06. The company’s stock had a trading volume of 1,220,694 shares, compared to its average volume of 1,106,949. The firm has a 50-day simple moving average of $43.15 and a 200 day simple moving average of $56.67. The firm has a market capitalization of $8.71 billion, a P/E ratio of 152.24, a P/E/G ratio of 1.82 and a beta of 2.04. Zillow Group, Inc. has a 1-year low of $37.26 and a 1-year high of $90.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data 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. 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%.Zillow Group’s revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. As a group, sell-side analysts predict that Zillow Group, Inc. will post 0.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler reduced their price objective on Zillow Group from $70.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Weiss Ratings raised Zillow Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. Mizuho reduced their price objective on Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. DA Davidson set a $75.00 price objective on Zillow Group in a report on Thursday, February 12th. Finally, Canaccord Genuity Group reduced their price objective on Zillow Group from $72.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.24.

Hedge Funds Weigh In On Zillow Group

Hedge funds have recently bought and sold shares of the stock. Aberdeen Group plc purchased a new position in Zillow Group during the third quarter worth $2,529,000. Y Intercept Hong Kong Ltd purchased a new position in Zillow Group during the third quarter worth $1,443,000. Tabor Asset Management LP purchased a new position in Zillow Group during the third quarter worth $2,428,000. M&T Bank Corp increased its position in Zillow Group by 38,344.0% during the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after buying an additional 1,600,097 shares in the last quarter. Finally, Emmett Investment Management LP purchased a new position in Zillow Group during the third quarter worth $2,860,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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.