Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) CAO Jennifer Rock sold 990 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $33,897.60. Following the completion of the transaction, the chief accounting officer directly owned 58,752 shares of the company's stock, valued at $2,011,668.48. The trade was a 1.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Zillow Group Trading Down 2.4%
NASDAQ:ZG opened at $34.32 on Tuesday. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 156.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.95. The company's 50-day moving average is $33.02 and its two-hundred day moving average is $40.01. Zillow Group, Inc. has a 12-month low of $29.03 and a 12-month 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 EPS for the quarter, topping 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 net margin of 1.96% and a return on equity of 2.32%. The company's quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, equities research analysts forecast that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.
Key Zillow Group News
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 across August 13 and August 17. Because the sales were planned and tax-related, they provide limited evidence of a change in his outlook on Zillow. CEO Form 4 filing
- Neutral Sentiment: CFO Jeremy Hofmann sold 9,171 shares worth approximately $313,675 over the same two dates. He retained a substantial position, and the stated purpose was tax withholding rather than discretionary selling. CFO Form 4 filing
- Negative Sentiment: Additional sales by Dan Spaulding, Errol G. Samuelson, Jennifer Rock and David A. Beitel totaled 11,077 shares and approximately $382,857. The breadth of selling across management and insiders may weigh on investor sentiment and add near-term supply, even though the transactions were tax-related and relatively small compared with their remaining holdings. Insider Form 4 filings
Analysts Set New Price Targets
Several research firms have commented on ZG. Benchmark lowered their target price on shares of Zillow Group from $110.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Canaccord Genuity Group reduced their price target on Zillow Group from $52.00 to $40.00 and set a "hold" rating on the stock in a research note on Thursday, August 6th. Mizuho decreased their price objective on Zillow Group from $65.00 to $53.00 and set a "neutral" rating on the stock in a report on Thursday, May 7th. JPMorgan Chase & Co. lowered their price objective on Zillow Group from $76.00 to $62.00 and set an "overweight" rating for the company in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company dropped their target price on Zillow Group from $46.00 to $35.00 and set an "equal weight" rating for the company in a research note on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Zillow Group presently has an average rating of "Hold" and an average target price of $52.29.
View Our Latest Stock Analysis on ZG
Institutional Investors Weigh In On Zillow Group
Institutional investors have recently bought and sold shares of the stock. Technology Crossover Management XI Ltd. acquired a new position in Zillow Group during the second quarter worth approximately $73,694,895,000. Norges Bank acquired a new position in shares of Zillow Group in the 4th quarter valued at $152,050,000. Independent Franchise Partners LLP boosted its holdings in shares of Zillow Group by 1.1% in the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company's stock valued at $138,135,000 after purchasing an additional 21,862 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Zillow Group by 38,344.0% in the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company's stock valued at $120,092,000 after purchasing an additional 1,600,097 shares during the last quarter. Finally, Tiger Global Management LLC increased its holdings in shares of Zillow Group by 30.7% during the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company's stock worth $69,849,000 after buying an additional 240,690 shares during the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.
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.
See Also
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].
