Insider Selling: Zillow Group (NASDAQ:ZG) COO Sells $46,602.60 in Stock

Zillow Group, Inc. (NASDAQ:ZG) COO Jun Choo sold 1,228 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $37.95, for a total value of $46,602.60. Following the completion of the transaction, the chief operating officer directly owned 107,699 shares of the company’s stock, valued at approximately $4,087,177.05. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Price Performance

Shares of ZG opened at $38.06 on Monday. Zillow Group, Inc. has a 52-week low of $37.26 and a 52-week high of $90.22. The stock has a market cap of $8.71 billion, a PE ratio of 152.24, a price-to-earnings-growth ratio of 1.78 and a beta of 2.04. The firm’s fifty day moving average is $42.99 and its two-hundred day moving average is $56.42.

Zillow Group (NASDAQ:ZG) last issued 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 business had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. As a group, research analysts anticipate that Zillow Group, Inc. will post 0.82 earnings per share for the current year.

Zillow Group News Summary

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

• Positive Sentiment: Zillow highlighted survey results showing most prospective home sellers want broad public exposure rather than private listing networks. The company said 85% of soon-to-be sellers are more likely to hire an agent who can pre-market to the broadest online audience, reinforcing Zillow’s core pitch that open-market listings benefit sellers. Article Title
• Positive Sentiment: Zillow also emphasized its data showing sellers lose money in same-agent dual agency deals and off-MLS listings, a message that could support demand for Zillow’s public-listing ecosystem and advertising tools. Article Title
• Neutral Sentiment: JPMorgan/other analyst commentary pointed to a lower price target for Zillow Group, suggesting Wall Street expectations have softened and may be limiting upside sentiment. Article Title
• Negative Sentiment: Multiple Zillow insiders, including the CEO, COO, CTO, CAO, general counsel, and another executive, sold shares this week. The company said the sales were mainly to cover tax withholding tied to vesting equity awards and some were made under a 10b5-1 plan, but the cluster of insider selling can still create a bearish overhang for investors. Article Title
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims against Zillow, adding legal uncertainty that may be a headwind for the stock. Article Title

Analysts Set New Price Targets

A number of research analysts have weighed in on ZG shares. The Goldman Sachs Group set a $53.00 target price on shares of Zillow Group in a research note on Thursday, May 7th. KeyCorp cut their price target on Zillow Group from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 price objective on shares of Zillow Group in a research report on Tuesday, April 28th. Susquehanna set a $50.00 price objective on Zillow Group in a research note on Thursday, February 12th. Finally, Zacks Research upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $71.24.

Institutional Trading of Zillow Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quantinno Capital Management LP lifted its position in Zillow Group by 106.6% in the first quarter. Quantinno Capital Management LP now owns 176,052 shares of the technology company’s stock valued at $7,287,000 after buying an additional 90,858 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Zillow Group by 4.7% during the first quarter. Public Employees Retirement System of Ohio now owns 15,433 shares of the technology company’s stock valued at $639,000 after acquiring an additional 699 shares during the last quarter. Caxton Associates LLP raised its stake in shares of Zillow Group by 172.4% in the 1st quarter. Caxton Associates LLP now owns 40,115 shares of the technology company’s stock valued at $1,660,000 after acquiring an additional 25,386 shares during the period. Group One Trading LLC acquired a new position in shares of Zillow Group in the 1st quarter worth approximately $134,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Zillow Group by 18.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 554,460 shares of the technology company’s stock worth $22,947,000 after acquiring an additional 85,367 shares during the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

About Zillow Group

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.