Zillow Group (NASDAQ:ZG) Insider Errol Samuelson Sells 2,939 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) insider Errol Samuelson sold 2,939 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $37.97, for a total transaction of $111,593.83. Following the completion of the sale, the insider directly owned 134,039 shares of the company’s stock, valued at approximately $5,089,460.83. The trade was a 2.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Price Performance

Shares of NASDAQ ZG opened at $38.06 on Friday. The firm has a 50-day simple moving average of $42.99 and a two-hundred day simple moving average of $56.54. Zillow Group, Inc. has a 1 year low of $37.26 and a 1 year high of $90.22. The company has a market cap of $8.71 billion, a P/E ratio of 152.24, a PEG ratio of 1.77 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results 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. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The firm had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.17 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company’s revenue was up 18.4% on a year-over-year basis. As a group, equities research analysts expect that Zillow Group, Inc. will post 0.82 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on ZG shares. Wells Fargo & Company decreased their price target on shares of Zillow Group from $60.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $95.00 price target on shares of Zillow Group in a research note on Tuesday, April 28th. KeyCorp decreased their price target on shares of Zillow Group from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. DA Davidson set a $75.00 price target on shares of Zillow Group in a research note on Thursday, February 12th. Finally, Benchmark reaffirmed a “buy” rating on shares of Zillow Group in a research note on Wednesday, February 11th. One research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Zillow Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.24.

Key Headlines Impacting Zillow Group

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

Hedge Funds Weigh In On Zillow Group

Institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC increased its holdings in Zillow Group by 78.9% during 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 during the period. Arax Advisory Partners increased its holdings in Zillow Group by 402.3% during the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock valued at $30,000 after buying an additional 354 shares during the period. First Command Advisory Services Inc. purchased a new position in Zillow Group during the fourth quarter valued at approximately $34,000. Kestra Advisory Services LLC purchased a new position in Zillow Group during the fourth quarter valued at approximately $47,000. Finally, Quarry LP purchased a new position in Zillow Group during the fourth quarter valued at approximately $56,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

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.