Zillow Group (NASDAQ:ZG) CAO Sells $39,281.66 in Stock

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

Zillow Group Stock Performance

NASDAQ:ZG opened at $38.06 on Monday. Zillow Group, Inc. has a 52 week low of $37.26 and a 52 week high of $90.22. The firm’s fifty day moving average is $42.99 and its 200-day moving average is $56.42. The firm has a market cap of $8.71 billion, a P/E ratio of 152.24, a P/E/G ratio of 1.78 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The business had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. Zillow Group’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. As a group, sell-side analysts anticipate that Zillow Group, Inc. will post 0.82 earnings per share for the current year.

Analyst Ratings Changes

ZG has been the topic of a number of recent analyst reports. Cantor Fitzgerald dropped their price objective on Zillow Group from $56.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. Zacks Research upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. KeyCorp dropped their price target on Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings upgraded Zillow Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. Finally, DA Davidson set a $75.00 price objective on shares of Zillow Group in a research report on Thursday, February 12th. One equities research 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 given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.24.

Hedge Funds Weigh In On Zillow Group

Large investors have recently modified their holdings of the company. DoubleLine ETF Adviser LP grew its position in Zillow Group by 4.9% in the 3rd quarter. DoubleLine ETF Adviser LP now owns 3,214 shares of the technology company’s stock valued at $239,000 after purchasing an additional 150 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Zillow Group by 4.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,657 shares of the technology company’s stock worth $256,000 after buying an additional 156 shares during the last quarter. Signaturefd LLC raised its holdings in Zillow Group by 10.4% during the fourth quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock worth $117,000 after buying an additional 161 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Zillow Group by 78.9% in the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock valued at $33,000 after buying an additional 187 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Zillow Group by 23.1% in the third quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock valued at $80,000 after buying an additional 194 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors.

More Zillow Group News

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

About Zillow Group

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.