Key Points
- Zillow Group director Erik Blachford sold 791 shares on June 8 at an average price of $34.80, totaling about $27,526.80. After the sale, he still owned 34,952 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- Zillow’s stock rose 3.0% and opened at $35.83, near its 52-week low of $34.50. The shares remain well below the 52-week high of $90.22 and trade under key moving averages.
- The company beat earnings expectations in its latest quarter, posting $0.53 EPS versus the $0.43 estimate and revenue of $708 million, up 18.4% year over year. Analysts currently rate the stock a consensus Hold with a price target of $71.24.
Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) Director Erik Blachford sold 791 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $34.80, for a total value of $27,526.80. Following the completion of the transaction, the director owned 34,952 shares of the company's stock, valued at approximately $1,216,329.60. The trade was a 2.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Zillow Group Stock Up 3.0%
ZG opened at $35.83 on Wednesday. The stock has a market cap of $8.20 billion, a PE ratio of 143.32, a PEG ratio of 1.49 and a beta of 1.94. The business has a 50 day moving average of $40.39 and a 200-day moving average of $52.43. Zillow Group, Inc. has a 52 week low of $34.50 and a 52 week high of $90.22.
Zillow Group (NASDAQ:ZG - Get Free Report) last released its earnings results on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.10. The company had revenue of $708.00 million during the quarter, compared to analysts' expectations of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The firm's revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. Equities analysts anticipate that Zillow Group, Inc. will post 0.9 EPS for the current year.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. UBS Group lowered their target price on Zillow Group from $80.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, April 28th. BTIG Research restated a "neutral" rating on shares of Zillow Group in a research note on Friday, May 22nd. Barclays lowered their target price on Zillow Group from $58.00 to $54.00 and set an "equal weight" rating for the company in a research note on Friday, May 8th. Evercore restated an "outperform" rating on shares of Zillow Group in a research note on Tuesday, March 17th. Finally, Piper Sandler lowered their target price on Zillow Group from $70.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. Thirteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $71.24.
Read Our Latest Report on ZG
Institutional Trading of Zillow Group
Institutional investors and hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC increased its holdings in shares of Zillow Group by 78.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company's stock worth $33,000 after purchasing an additional 187 shares in the last quarter. Arax Advisory Partners increased its holdings in shares of Zillow Group by 402.3% in the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company's stock worth $30,000 after purchasing an additional 354 shares in the last quarter. First Command Advisory Services Inc. bought a new stake in shares of Zillow Group in the 4th quarter worth $34,000. Kestra Advisory Services LLC bought a new stake in shares of Zillow Group in the 4th quarter worth $47,000. Finally, Quarry LP bought a new stake in shares of Zillow Group in the 4th quarter worth $56,000. Institutional investors own 20.32% of the company's stock.
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.
Further Reading
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