Zillow Group (NASDAQ:ZG) General Counsel Bradley Owens Sells 2,246 Shares of Stock

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

Zillow Group Price Performance

Zillow Group stock opened at $38.06 on Friday. The company has a market cap of $8.71 billion, a PE ratio of 152.24, a P/E/G ratio of 1.77 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. The company has a fifty day moving average price of $42.99 and a two-hundred day moving average price of $56.54.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The company had revenue of $708.00 million for 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 firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. Equities research analysts anticipate that Zillow Group, Inc. will post 0.82 earnings per share for the current year.

Institutional Investors Weigh In On Zillow Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Aberdeen Group plc bought a new stake in shares of Zillow Group during the third quarter valued at about $2,529,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Zillow Group during the third quarter valued at about $1,443,000. Tabor Asset Management LP bought a new stake in shares of Zillow Group during the third quarter valued at about $2,428,000. M&T Bank Corp raised its stake in shares of 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 valued at $120,092,000 after purchasing an additional 1,600,097 shares in the last quarter. Finally, Emmett Investment Management LP bought a new stake in shares of Zillow Group during the third quarter valued at about $2,860,000. 20.32% of the stock is currently owned by institutional investors.

Zillow Group News Summary

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

A number of equities research analysts have issued reports on ZG shares. Barclays cut their target price 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. Benchmark reiterated a “buy” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Weiss Ratings upgraded Zillow Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 target price on shares of Zillow Group in a research note on Tuesday, April 28th. Finally, The Goldman Sachs Group set a $53.00 target price on Zillow Group in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Zillow Group presently has an average rating of “Moderate Buy” and an average target price of $71.24.

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.