Zillow Group (NASDAQ:ZG) General Counsel Sells $85,190.78 in Stock

Zillow Group, Inc. (NASDAQ:ZG) General Counsel Bradley Owens sold 2,246 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $37.93, for a total transaction of $85,190.78. Following the completion of the sale, the general counsel owned 68,609 shares of the company’s stock, valued at approximately $2,602,339.37. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Price Performance

ZG stock opened at $38.06 on Monday. The company has a fifty day moving average price of $42.99 and a 200 day moving average price of $56.42. Zillow Group, Inc. has a 12 month low of $37.26 and a 12 month high of $90.22. The company has a market cap of $8.71 billion, a price-to-earnings ratio of 152.24, a price-to-earnings-growth ratio of 1.78 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.43 by $0.10. The firm 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 revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. As a group, analysts anticipate that Zillow Group, Inc. will post 0.82 earnings per share for the current year.

Institutional Investors Weigh In On Zillow Group

A number of large investors have recently added to or reduced their stakes in the business. DoubleLine ETF Adviser LP grew its stake 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 acquiring an additional 150 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Zillow Group by 4.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,657 shares of the technology company’s stock worth $256,000 after purchasing an additional 156 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Zillow Group by 10.4% during the 4th quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock worth $117,000 after purchasing an additional 161 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Zillow Group by 78.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 187 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Zillow Group by 23.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock worth $80,000 after purchasing an additional 194 shares during the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZG has been the subject of a number of analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Zillow Group in a research report on Tuesday, April 28th. KeyCorp cut their price objective on shares of Zillow Group from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. The Goldman Sachs Group set a $53.00 price objective on shares of Zillow Group in a research report on Thursday, May 7th. Benchmark restated a “buy” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Finally, Wells Fargo & Company cut their price objective on shares of Zillow Group from $60.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.24.

Trending Headlines about 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

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.