Errol Samuelson Sells 3,154 Shares of Zillow Group (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) insider Errol Samuelson sold 3,154 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $107,992.96. Following the completion of the transaction, the insider directly owned 130,885 shares in the company, valued at $4,481,502.40. This represents a 2.35% decrease in their position. The sale was disclosed in a legal filing 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 Price Performance

NASDAQ:ZG opened at $35.28 on Wednesday. Zillow Group, Inc. has a 12-month low of $29.03 and a 12-month high of $90.22. The firm has a market capitalization of $7.93 billion, a P/E ratio of 160.37, a P/E/G ratio of 1.53 and a beta of 1.95. The business has a 50 day simple moving average of $33.01 and a 200 day simple moving average of $39.80.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. The business had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.25 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Research analysts anticipate that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ZG shares. KeyCorp decreased their price objective on shares of Zillow Group from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Citigroup dropped their price target on Zillow Group from $68.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Wells Fargo & Company lowered their price objective on shares of Zillow Group from $46.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, August 7th. Benchmark dropped their target price on Zillow Group from $110.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Zillow Group in a research note on Thursday, June 11th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Zillow Group has a consensus rating of “Hold” and a consensus target price of $52.29.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. M&T Bank Corp increased its stake in shares of Zillow Group by 38,344.0% in the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after purchasing an additional 1,600,097 shares during the period. Polianta Ltd acquired a new position in shares of Zillow Group in the first quarter valued at $1,494,000. Independent Franchise Partners LLP lifted its holdings in shares of Zillow Group by 1.1% during the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock worth $138,135,000 after acquiring an additional 21,862 shares during the period. Deltroit Asset Management UK LLP bought a new position in Zillow Group during the fourth quarter worth about $2,715,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Zillow Group during the 2nd quarter worth approximately $1,546,000. Institutional investors own 20.32% of the company’s stock.

Trending Headlines about Zillow Group

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

• Positive Sentiment: U.S. asking rents rose to $1,962 in July, increasing 2.3% from a year earlier—the fastest growth in more than a year. Strong rental demand could support Zillow’s traffic, advertising activity and rental-related revenue. Rents near $2,000, rising at the fastest pace in over a year
• Neutral Sentiment: CEO Jeremy Wacksman, CFO Jeremy Hofmann, CAO Jennifer Rock, CTO David Beitel and other insiders sold shares worth roughly $1.5 million in aggregate. The transactions were made under pre-arranged trading plans or to cover tax withholding on vested equity awards, making them a relatively weak signal of deteriorating management confidence. Zillow Group insider filings
• Negative Sentiment: Rental concessions increased to 39.8% of Zillow listings in July from 35.9% a year earlier. Although rent growth remains positive, the higher use of concessions suggests landlords still face competitive pressure, which could temper the benefit to Zillow’s rental marketplace.
• Negative Sentiment: Analysts have recently lowered several price targets, including Wells Fargo’s reduction to $35 and Canaccord Genuity’s reduction to $40. Zillow Group’s consensus rating remains “Hold,” despite its latest quarterly earnings beat of $0.52 per share versus the $0.44 estimate. Zillow Group analyst and stock information

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.