Zillow Group (NASDAQ:ZG) CAO Jennifer Rock Sells 990 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) CAO Jennifer Rock sold 990 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total value of $33,897.60. Following the transaction, the chief accounting officer directly owned 58,752 shares of the company’s stock, valued at approximately $2,011,668.48. This trade represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Price Performance

Zillow Group stock opened at $34.32 on Tuesday. Zillow Group, Inc. has a 1-year low of $29.03 and a 1-year high of $90.22. The company has a market cap of $7.85 billion, a PE ratio of 156.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.95. The stock’s 50 day moving average price is $33.02 and its 200 day moving average price is $40.01.

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

Trending Headlines about Zillow Group

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

• Neutral Sentiment: CEO Jeremy Wacksman sold a combined 15,125 shares for approximately $517,320 across August 13 and August 17. Because the sales were planned and tax-related, they provide limited evidence of a change in his outlook on Zillow. CEO Form 4 filing
• Neutral Sentiment: CFO Jeremy Hofmann sold 9,171 shares worth approximately $313,675 over the same two dates. He retained a substantial position, and the stated purpose was tax withholding rather than discretionary selling. CFO Form 4 filing
• Negative Sentiment: Additional sales by Dan Spaulding, Errol G. Samuelson, Jennifer Rock and David A. Beitel totaled 11,077 shares and approximately $382,857. The breadth of selling across management and insiders may weigh on investor sentiment and add near-term supply, even though the transactions were tax-related and relatively small compared with their remaining holdings. Insider Form 4 filings

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ZG shares. Citizens Jmp cut their price target on shares of Zillow Group from $75.00 to $46.00 and set a “market outperform” rating for the company in a report on Friday, August 7th. UBS Group decreased their price objective on shares of Zillow Group from $75.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Susquehanna lowered their target price on shares of Zillow Group from $50.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Canaccord Genuity Group dropped their target price on shares of Zillow Group from $52.00 to $40.00 and set a “hold” rating for the company in a report on Thursday, August 6th. Finally, Royal Bank Of Canada reduced their price target on shares of Zillow Group from $70.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $52.29.

Institutional Trading of Zillow Group

Large investors have recently modified their holdings of the business. M&T Bank Corp increased its stake in shares of Zillow Group by 38,344.0% during the 4th 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 in the last quarter. Polianta Ltd purchased a new stake in Zillow Group in the 1st quarter valued at approximately $1,494,000. Independent Franchise Partners LLP grew its holdings in 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 valued at $138,135,000 after buying an additional 21,862 shares during the last quarter. Deltroit Asset Management UK LLP acquired a new stake in Zillow Group during the 4th quarter valued at $2,715,000. Finally, Assenagon Asset Management S.A. purchased a new position in Zillow Group during the second quarter worth $1,546,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

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.