Key Points
- Zillow Group director Erik Blachford sold 791 shares on June 8 at an average price of $34.80, for proceeds of about $27,527. The sale reduced his direct ownership by 2.21%, and it was made under a pre-arranged Rule 10b5-1 trading plan.
- The company recently beat earnings expectations for the quarter, reporting EPS of $0.53 versus the $0.43 consensus estimate and revenue of $708 million, slightly above forecasts. Analysts now expect Zillow to earn about $0.90 per share for the current fiscal year.
- Wall Street remains cautiously optimistic, with a consensus rating of “Moderate Buy” and an average price target of $77. Zillow shares were trading near $35.45, well below both that target and their 52-week high of $93.88.
Zillow Group, Inc. (NASDAQ:Z - Get Free Report) Director Erik Blachford sold 791 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $34.80, for a total value of $27,526.80. Following the sale, the director directly owned 34,952 shares in the company, valued at approximately $1,216,329.60. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Zillow Group Stock Performance
Z opened at $35.45 on Wednesday. The firm has a market cap of $8.11 billion, a P/E ratio of 141.80, a price-to-earnings-growth ratio of 1.49 and a beta of 1.97. Zillow Group, Inc. has a 52-week low of $34.16 and a 52-week high of $93.88. The business's fifty day moving average is $40.18 and its 200-day moving average is $52.81.
Zillow Group (NASDAQ:Z - Get Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.10. The company had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. On average, research analysts predict that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Zillow Group from $80.00 to $68.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of Zillow Group in a report on Wednesday, February 11th. UBS Group reduced their target price on Zillow Group from $80.00 to $75.00 and set a "buy" rating on the stock in a report on Tuesday, April 28th. Keefe, Bruyette & Woods reduced their target price on Zillow Group from $60.00 to $50.00 and set a "market perform" rating on the stock in a report on Thursday, May 7th. Finally, Zelman & Associates raised Zillow Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $77.00.
Read Our Latest Analysis on Zillow Group
Institutional Trading of Zillow Group
Large investors have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in Zillow Group in the fourth quarter valued at about $28,000. Flagship Harbor Advisors LLC acquired a new stake in Zillow Group in the fourth quarter valued at about $43,000. Leonteq Securities AG boosted its stake in Zillow Group by 627.0% in the first quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider's stock valued at $56,000 after buying an additional 1,160 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Zillow Group by 283.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider's stock valued at $59,000 after buying an additional 1,045 shares in the last quarter. Finally, Clearstead Advisors LLC boosted its stake in Zillow Group by 4,119.0% in the third quarter. Clearstead Advisors LLC now owns 886 shares of the financial services provider's stock valued at $68,000 after buying an additional 865 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.
About Zillow Group
(
Get Free Report)
Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company's platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.
Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company's automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
