Zillow Group, Inc. (NASDAQ:Z - Get Free Report) CAO Jennifer Rock sold 990 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $33,897.60. Following the transaction, the chief accounting officer owned 58,752 shares of the company's stock, valued at $2,011,668.48. This represents a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Stock Performance
NASDAQ Z opened at $33.72 on Tuesday. The stock has a 50-day simple moving average of $32.89 and a two-hundred day simple moving average of $39.95. The firm has a market capitalization of $7.58 billion, a P/E ratio of 153.28, a PEG ratio of 1.51 and a beta of 1.98. Zillow Group, Inc. has a fifty-two week low of $29.23 and a fifty-two week high of $93.88.
Zillow Group (NASDAQ:Z - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The business had revenue of $772.00 million during the quarter, compared to analysts' expectations of $758.10 million. As a group, analysts forecast that Zillow Group, Inc. will post 0.89 earnings per share for the current year.
Institutional Investors Weigh In On Zillow Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp acquired a new position in Zillow Group during the fourth quarter worth $196,677,000. Scge Management L.P. purchased a new stake in shares of Zillow Group during the third quarter worth about $133,990,000. L1 Capital Pty Ltd raised its position in shares of Zillow Group by 24,803.7% during the 4th quarter. L1 Capital Pty Ltd now owns 1,729,313 shares of the financial services provider's stock worth $117,974,000 after purchasing an additional 1,722,369 shares during the last quarter. Tiger Global Management LLC lifted its stake in Zillow Group by 21.7% in the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider's stock valued at $304,927,000 after buying an additional 1,312,000 shares in the last quarter. Finally, Soma Equity Partners LP boosted its holdings in Zillow Group by 389.5% in the 3rd quarter. Soma Equity Partners LP now owns 1,468,492 shares of the financial services provider's stock worth $113,147,000 after buying an additional 1,168,492 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.
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, while retaining 138,574 shares after the latest sale. The transactions reduced his holdings but were explicitly tied to tax obligations under a pre-arranged plan. CEO Form 4 filing
- Neutral Sentiment: CFO Jeremy Hofmann sold 9,171 shares worth about $313,675 across two transactions and continued to own 59,144 shares. The sales were also conducted under a 10b5-1 plan for tax withholding. CFO Form 4 filing
- Negative Sentiment: Several additional executives and insiders sold shares, bringing reported sales to 35,373 shares worth approximately $1.21 million. Dan Spaulding, Errol G. Samuelson, Jennifer Rock and David A. Beitel all reduced their holdings, creating a potentially negative near-term sentiment signal because of the number of insiders selling at roughly $34.24–$35.37 per share. The tax-related purpose substantially reduces the bearish significance. Insider Form 4 filings
Analyst Upgrades and Downgrades
Several equities research analysts have commented on Z shares. UBS Group lowered their price objective on Zillow Group from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, April 28th. Keefe, Bruyette & Woods decreased their target price on shares of Zillow Group from $37.00 to $34.00 and set a "market perform" rating for the company in a research note on Friday, August 7th. Evercore downgraded shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. Jefferies Financial Group dropped their price target on shares of Zillow Group from $75.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Zillow Group from $80.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $66.75.
View Our Latest Stock Report on Zillow Group
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.
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