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

Zillow Group, Inc. (NASDAQ:ZG) CAO Jennifer Rock sold 1,034 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $37.99, for a total transaction of $39,281.66. Following the sale, the chief accounting officer owned 59,742 shares in the company, valued at approximately $2,269,598.58. This trade represents a 1.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Stock Performance

Zillow Group stock opened at $38.06 on Friday. The firm’s fifty day moving average price is $42.99 and its 200-day moving average price is $56.54. The stock has a market cap of $8.71 billion, a P/E ratio of 152.24, a price-to-earnings-growth ratio of 1.78 and a beta of 2.04. Zillow Group, Inc. has a fifty-two week low of $37.26 and a fifty-two week high of $90.22.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Canaccord Genuity Group lowered their price objective on shares of Zillow Group from $72.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, May 7th. Barclays decreased their target price on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. UBS Group decreased their target price on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 target price on shares of Zillow Group in a research report on Tuesday, April 28th. Finally, The Goldman Sachs Group set a $53.00 target price on shares of Zillow Group in a research report on Thursday, May 7th. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.24.

Hedge Funds Weigh In On Zillow Group

Large investors have recently added to or reduced their stakes in the business. Aberdeen Group plc purchased a new position in Zillow Group in the 3rd quarter worth $2,529,000. Y Intercept Hong Kong Ltd bought a new stake in Zillow Group in the 3rd quarter worth $1,443,000. Tabor Asset Management LP bought a new stake in Zillow Group in the 3rd quarter worth $2,428,000. M&T Bank Corp grew its holdings in Zillow Group by 38,344.0% in the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after acquiring an additional 1,600,097 shares during the last quarter. Finally, Emmett Investment Management LP bought a new stake in Zillow Group in the 3rd quarter worth $2,860,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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

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.