Key Points
- Zillow CFO Jeremy Hofmann sold 5,501 shares on May 18 at an average price of $37.40, for proceeds of about $205,737. The sale was made under a pre-arranged 10b5-1 plan and was tied to tax withholding on vested equity awards.
- Zillow recently beat earnings expectations, reporting Q1 EPS of $0.53 versus the $0.43 consensus estimate, while revenue rose 18.4% year over year to $708 million.
- Shares have been under pressure despite solid results, with ZG trading around $37.61 near its 52-week low of $37.26, far below its 52-week high of $90.22. Analysts currently rate the stock a consensus “Moderate Buy,” with an average target price of $71.24.
Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) insider Dan Spaulding sold 2,056 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $37.93, for a total transaction of $77,984.08. Following the completion of the sale, the insider directly owned 52,774 shares in the company, valued at approximately $2,001,717.82. This trade represents a 3.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.
Dan Spaulding also recently made the following trade(s):
- On Monday, May 18th, Dan Spaulding sold 3,078 shares of Zillow Group stock. The shares were sold at an average price of $37.40, for a total transaction of $115,117.20.
- On Tuesday, February 17th, Dan Spaulding sold 5,361 shares of Zillow Group stock. The shares were sold at an average price of $43.95, for a total transaction of $235,615.95.
Zillow Group Stock Down 1.2%
Shares of NASDAQ:ZG opened at $37.61 on Tuesday. Zillow Group, Inc. has a fifty-two week low of $37.26 and a fifty-two week high of $90.22. The firm's 50 day moving average price is $42.81 and its 200 day moving average price is $56.17. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 150.44, a price-to-earnings-growth ratio of 1.78 and a beta of 2.04.
Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The company had revenue of $708.00 million for the quarter, compared to analysts' expectations of $705.17 million. During the same quarter last year, the company earned $0.41 earnings per share. The firm's revenue for the quarter was up 18.4% on a year-over-year basis. On average, equities analysts anticipate that Zillow Group, Inc. will post 0.82 EPS for the current year.
Analyst Ratings Changes
A number of research firms have weighed in on ZG. KeyCorp cut their price objective on shares of Zillow Group from $75.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Zacks Research raised shares of Zillow Group from a "hold" rating to a "strong-buy" rating in a report on Friday, April 10th. Mizuho cut their price objective on shares of Zillow Group from $65.00 to $53.00 and set a "neutral" rating on the stock in a report on Thursday, May 7th. Barclays cut their price objective on shares of Zillow Group from $58.00 to $54.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. Finally, Citigroup cut their price objective on shares of Zillow Group from $78.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $71.24.
Check Out Our Latest Stock Report on ZG
Hedge Funds Weigh In On Zillow Group
A number of institutional investors have recently modified their holdings of ZG. AQR Capital Management LLC increased its holdings in shares of Zillow Group by 40.5% in the 1st quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company's stock valued at $862,000 after acquiring an additional 3,717 shares during the period. Millennium Management LLC increased its holdings in shares of Zillow Group by 110.8% in the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company's stock valued at $19,456,000 after acquiring an additional 152,955 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Zillow Group by 7.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company's stock valued at $5,878,000 after acquiring an additional 5,737 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Zillow Group by 5.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company's stock valued at $1,445,000 after acquiring an additional 1,150 shares during the period. Finally, Prudential Financial Inc. increased its holdings in shares of Zillow Group by 16.3% in the 2nd quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company's stock valued at $543,000 after acquiring an additional 1,110 shares during the period. 20.32% of the stock is owned by institutional investors and hedge funds.
About Zillow Group
(
Get Free Report)
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.
Read More
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].
