Insider Selling: Zillow Group (NASDAQ:Z) General Counsel Sells $125,241.72 in Stock

Zillow Group, Inc. (NASDAQ:Z) General Counsel Bradley Owens sold 3,364 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $37.23, for a total transaction of $125,241.72. Following the sale, the general counsel directly owned 65,245 shares in the company, valued at approximately $2,429,071.35. This trade represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.

Zillow Group Price Performance

Shares of NASDAQ:Z opened at $37.66 on Monday. The company’s fifty day moving average is $42.97 and its two-hundred day moving average is $57.12. Zillow Group, Inc. has a 12-month low of $36.76 and a 12-month high of $93.88. The company has a market cap of $8.62 billion, a P/E ratio of 150.64, a price-to-earnings-growth ratio of 1.76 and a beta of 2.07.

Zillow Group (NASDAQ:Z) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $705.10 million. Equities research analysts anticipate that Zillow Group, Inc. will post 0.82 earnings per share for the current year.

Analysts Set New Price Targets

Z has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Zacks Research raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods dropped their price target on shares of Zillow Group from $60.00 to $50.00 and set a “market perform” rating on the stock in a research note on Thursday, May 7th. Barclays raised shares of Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. Finally, Wall Street Zen raised shares of Zillow Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Three analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.75.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC bought a new stake in Zillow Group in the third quarter worth $27,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Zillow Group in the third quarter worth $29,000. V Square Quantitative Management LLC acquired a new stake in shares of Zillow Group in the fourth quarter worth about $28,000. Cullen Frost Bankers Inc. boosted its stake in shares of Zillow Group by 58.6% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 163 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its stake in shares of Zillow Group by 32.8% during the 3rd quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 135 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Zillow Group News Roundup

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Zillow published new survey data supporting its marketplace strategy, showing most soon-to-be sellers prefer broad public exposure over private listing networks. The findings reinforce Zillow’s argument that full-market visibility and real-time demand signals help sellers achieve better outcomes. Article Title
• Neutral Sentiment: Zillow CEO Jeremy Wacksman was featured in an interview about the company’s evolution from a desktop-only search engine into a major real-estate app. The article is more of a branding/strategy profile than a near-term financial catalyst. Article Title
• Negative Sentiment: General Counsel Bradley D. Owens sold shares on May 14 and May 15, though the trades were made under a pre-arranged Rule 10b5-1 plan and were tied to tax withholding from vesting equity awards. Insider sales can still weigh on sentiment when the stock is already under legal scrutiny.
• Negative Sentiment: Several plaintiff-side law firms announced investigations into Zillow, increasing the risk of distraction, legal costs, and possible headline pressure on the shares. Article Title

About Zillow Group

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.