Zillow Group (NASDAQ:Z) Insider Errol Samuelson Sells 3,154 Shares

Zillow Group, Inc. (NASDAQ:Z) insider Errol Samuelson sold 3,154 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $107,992.96. Following the completion of the sale, the insider owned 130,885 shares of the company’s stock, valued at approximately $4,481,502.40. This trade represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 $33.72 on Tuesday. The stock’s fifty day moving average price is $32.89 and its two-hundred day moving average price is $39.95. Zillow Group, Inc. has a one year low of $29.23 and a one year high of $93.88. The firm has a market cap of $7.58 billion, a PE ratio of 153.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.98.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. The firm had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. Sell-side analysts expect that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds have recently made changes to their positions in Z. Independent Franchise Partners LLP grew its holdings in shares of Zillow Group by 0.9% during the 4th quarter. Independent Franchise Partners LLP now owns 10,953,405 shares of the financial services provider’s stock valued at $747,241,000 after purchasing an additional 94,569 shares during the last quarter. Capital World Investors increased its position in Zillow Group by 1.8% during the 4th quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider’s stock worth $738,554,000 after purchasing an additional 191,058 shares in the last quarter. Tiger Global Management LLC lifted its stake in Zillow Group by 21.7% in the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock valued at $304,927,000 after purchasing an additional 1,312,000 shares during the last quarter. State Street Corp lifted its stake in Zillow Group by 3.9% in the 4th quarter. State Street Corp now owns 3,838,788 shares of the financial services provider’s stock valued at $261,882,000 after purchasing an additional 143,726 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Zillow Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 3,363,657 shares of the financial services provider’s stock valued at $228,898,000 after buying an additional 55,323 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group News Roundup

Here are the key news stories impacting Zillow Group this week:

• Neutral Sentiment: CEO Jeremy Wacksman sold a combined 15,125 shares for approximately $517,320, while retaining 138,574 shares after the latest sale. The transactions reduced his holdings but were explicitly tied to tax obligations under a pre-arranged plan. CEO Form 4 filing
• Neutral Sentiment: CFO Jeremy Hofmann sold 9,171 shares worth about $313,675 across two transactions and continued to own 59,144 shares. The sales were also conducted under a 10b5-1 plan for tax withholding. CFO Form 4 filing
• Negative Sentiment: Several additional executives and insiders sold shares, bringing reported sales to 35,373 shares worth approximately $1.21 million. Dan Spaulding, Errol G. Samuelson, Jennifer Rock and David A. Beitel all reduced their holdings, creating a potentially negative near-term sentiment signal because of the number of insiders selling at roughly $34.24–$35.37 per share. The tax-related purpose substantially reduces the bearish significance. Insider Form 4 filings

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on Z. Jefferies Financial Group reduced their price objective on shares of Zillow Group from $75.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Morgan Stanley set a $60.00 target price on shares of Zillow Group in a research report on Thursday, August 6th. Keefe, Bruyette & Woods reduced their price target on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a research report on Friday, August 7th. Zacks Research cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings cut shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and a consensus price target of $66.75.

Zillow Group Company Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.