Key Points
- Zillow Group director Thielke Claire Cormier sold 1,187 shares at an average price of $33.09, generating $39,277.83. The transaction, made under a pre-arranged Rule 10b5-1 plan, reduced her direct stake by 24.99% to 3,562 shares.
- Zillow reported quarterly earnings of $0.52 per share, beating estimates of $0.44, while revenue of $772 million exceeded forecasts and increased 17.9% year over year.
- Analysts remain mixed, with a consensus “Hold” rating and an average price target of $52.29; several firms recently lowered their targets. Institutional investors collectively own 20.32% of the company.
Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) Director Thielke Claire Cormier sold 1,187 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $33.09, for a total value of $39,277.83. Following the transaction, the director directly owned 3,562 shares in the company, valued at approximately $117,866.58. This represents a 24.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Zillow Group Trading Down 2.2%
Shares of ZG opened at $33.49 on Thursday. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 152.23, a PEG ratio of 1.46 and a beta of 1.95. The stock has a 50 day moving average of $33.03 and a 200-day moving average of $40.68. Zillow Group, Inc. has a 52 week low of $29.03 and a 52 week high of $90.22.
Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.25 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The business's quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 EPS. On average, sell-side analysts predict that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in ZG. AQR Capital Management LLC increased its position in Zillow Group by 40.5% in the first quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company's stock worth $862,000 after buying an additional 3,717 shares during the period. Millennium Management LLC boosted its holdings in shares of Zillow Group by 110.8% during the first 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 grew its position in shares of Zillow Group by 7.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company's stock worth $5,878,000 after acquiring an additional 5,737 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Zillow Group by 5.8% during the second quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company's stock worth $1,445,000 after acquiring an additional 1,150 shares during the last quarter. 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 worth $543,000 after acquiring an additional 1,110 shares during the period. 20.32% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. KeyCorp dropped their target price on shares of Zillow Group from $65.00 to $57.00 and set an "overweight" rating on the stock in a report on Monday, August 3rd. Citigroup decreased their price target on shares of Zillow Group from $68.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Royal Bank Of Canada decreased their price target on shares of Zillow Group from $70.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. Susquehanna lowered their price objective on shares of Zillow Group from $50.00 to $38.00 and set a "neutral" rating for the company in a research report on Thursday, August 6th. Finally, Cantor Fitzgerald dropped their price objective on shares of Zillow Group from $34.00 to $32.00 and set a "neutral" rating on the stock in a research note on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $52.29.
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About Zillow Group
(
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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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