Key Points
- Zillow CEO Jeremy Wacksman sold 9,072 shares on May 22 at an average price of $36.54, totaling about $331,491. After the sale, he still held 153,699 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- Zillow’s stock was down 1.8% and traded near $36.21, close to its 52-week low of $35.11. The stock remains far below its 52-week high of $90.22.
- Recent earnings beat estimates, with Zillow reporting $0.53 EPS versus the expected $0.43 and revenue of $708 million, up 18.4% year over year. Despite the strong quarter, analysts currently rate the stock a Hold on average, with a consensus price target of $71.24.
Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) CEO Jeremy Wacksman sold 9,072 shares of Zillow Group stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $36.54, for a total transaction of $331,490.88. Following the completion of the transaction, the chief executive officer owned 153,699 shares in the company, valued at approximately $5,616,161.46. This trade represents a 5.57% decrease in their position. The sale 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.
Jeremy Wacksman also recently made the following trade(s):
- On Thursday, May 14th, Jeremy Wacksman sold 6,051 shares of Zillow Group stock. The shares were sold at an average price of $37.92, for a total transaction of $229,453.92.
Zillow Group Stock Down 1.8%
Shares of ZG opened at $36.21 on Wednesday. The firm has a market cap of $8.28 billion, a PE ratio of 144.84, a price-to-earnings-growth ratio of 1.58 and a beta of 2.04. The company's fifty day moving average is $41.97 and its two-hundred day moving average is $54.76. Zillow Group, Inc. has a fifty-two week low of $35.11 and a fifty-two week high of $90.22.
Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.10. The company had revenue of $708.00 million for the quarter, compared to analyst estimates 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 last year, the business earned $0.41 EPS. As a group, equities research analysts anticipate that Zillow Group, Inc. will post 0.9 earnings per share for the current year.
Hedge Funds Weigh In On Zillow Group
Several hedge funds and other institutional investors have recently made changes to their positions in ZG. Arax Advisory Partners lifted its holdings in shares of Zillow Group by 402.3% during the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company's stock valued at $30,000 after acquiring an additional 354 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings 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 valued at $33,000 after acquiring an additional 187 shares in the last quarter. First Command Advisory Services Inc. purchased a new stake in Zillow Group during the 4th quarter worth $34,000. EverSource Wealth Advisors LLC increased its stake in Zillow Group by 183.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company's stock worth $41,000 after buying an additional 637 shares during the period. Finally, Fifth Third Bancorp increased its stake in Zillow Group by 990.3% during the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company's stock worth $42,000 after buying an additional 921 shares during the period. Institutional investors and hedge funds own 20.32% of the company's stock.
Analyst Upgrades and Downgrades
ZG has been the topic of a number of research analyst reports. Canaccord Genuity Group decreased their price target on shares of Zillow Group from $72.00 to $52.00 and set a "hold" rating on the stock in a report on Thursday, May 7th. Zacks Research lowered shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. Cantor Fitzgerald reduced their target price on shares of Zillow Group from $56.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, March 25th. Wells Fargo & Company reduced their target price on shares of Zillow Group from $60.00 to $45.00 and set an "equal weight" rating on the stock in a report on Thursday, May 7th. Finally, KeyCorp reduced their target price 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. Thirteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Zillow Group presently has an average rating of "Hold" and a consensus price target of $71.24.
Check Out Our Latest Research Report on ZG
Zillow Group Company Profile
(
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.
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