Zillow Group (NASDAQ:Z) Posts Quarterly Earnings Results

Zillow Group (NASDAQ:Z) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03), FiscalAI reports. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The firm had revenue of $724.00 million for the quarter, compared to analysts’ expectations of $753.55 million.

Zillow Group Stock Up 9.4%

NASDAQ:Z traded up $2.92 during trading hours on Wednesday, hitting $33.90. 6,863,773 shares of the company’s stock traded hands, compared to its average volume of 4,203,950. The firm has a market cap of $7.62 billion, a P/E ratio of 154.10, a P/E/G ratio of 1.38 and a beta of 1.98. Zillow Group has a 52 week low of $26.67 and a 52 week high of $77.07. The business’s fifty day simple moving average is $31.06 and its two-hundred day simple moving average is $38.80.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Dan Spaulding sold 3,169 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $35.37, for a total value of $112,087.53. Following the sale, the insider owned 44,561 shares of the company’s stock, valued at $1,576,122.57. This trade represents a 6.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Wacksman sold 9,339 shares of Zillow Group stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $319,207.02. Following the sale, the chief executive officer owned 138,574 shares of the company’s stock, valued at approximately $4,736,459.32. This trade represents a 6.31% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold 38,539 shares of company stock valued at $1,323,800 over the last 90 days. Insiders own 23.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on Z. Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen lowered shares of Zillow Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Keefe, Bruyette & Woods cut their target price on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating for the company in a research report on Friday, August 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Zillow Group in a research report on Wednesday, August 19th. Finally, Jefferies Financial Group lowered their price target on shares of Zillow Group from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $57.71.

Zillow Group Company Profile

Zillow Group, Inc (NASDAQ: Z) operates a digital real estate marketplace in the United States. Its platforms help consumers search for homes, research neighborhoods and market conditions, connect with real estate professionals, and manage various steps in the home-buying, selling, renting and financing processes.

The company’s portfolio includes Zillow, Trulia, StreetEasy and HotPads, which provide property listings and real estate information. Zillow Group also offers services for real estate professionals, including marketing, lead generation, transaction management and showing coordination through products such as Zillow Premier Agent and ShowingTime+.

Through Zillow Home Loans and other affiliated services, the company provides or facilitates mortgage and closing-related solutions.