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

Zillow Group, Inc. (NASDAQ:ZG) CAO Jennifer Rock sold 1,034 shares of Zillow Group stock in a transaction dated 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 directly owned 59,742 shares in the company, valued at approximately $2,269,598.58. The trade was a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Stock Performance

ZG traded up $0.20 during trading on Friday, reaching $38.06. The company had a trading volume of 1,220,724 shares, compared to its average volume of 1,107,114. The firm’s 50-day simple moving average is $43.15 and its 200 day simple moving average is $56.67. The company has a market cap of $8.71 billion, a price-to-earnings ratio of 152.24, a PEG ratio of 1.82 and a beta of 2.04. Zillow Group, Inc. has a 12-month low of $37.26 and a 12-month high of $90.22.

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

Analyst Ratings Changes

Several equities research analysts recently commented on ZG shares. Evercore restated an “outperform” rating on shares of Zillow Group in a research report on Tuesday, March 17th. Mizuho reduced their price target on shares of Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Canaccord Genuity Group reduced their price target on shares of Zillow Group from $72.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, May 7th. The Goldman Sachs Group set a $53.00 price target on shares of Zillow Group in a research report on Thursday, May 7th. Finally, DA Davidson set a $75.00 target price on Zillow Group in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Zillow Group has a consensus rating of “Moderate Buy” and an average target price of $71.24.

Zillow Group News Roundup

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

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently bought and sold shares of ZG. Norges Bank purchased a new position in Zillow Group during the 4th quarter valued at about $152,050,000. M&T Bank Corp grew its stake in Zillow Group by 38,344.0% during the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after acquiring an additional 1,600,097 shares in the last quarter. UBS Group AG grew its stake in Zillow Group by 44.5% during the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after acquiring an additional 313,643 shares in the last quarter. Tiger Global Management LLC lifted its holdings in shares of Zillow Group by 30.7% during the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock valued at $69,849,000 after buying an additional 240,690 shares during the last quarter. Finally, Virtu Financial LLC lifted its holdings in shares of Zillow Group by 271.9% during the 3rd quarter. Virtu Financial LLC now owns 293,718 shares of the technology company’s stock valued at $21,864,000 after buying an additional 214,743 shares during the last quarter. 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.