Zillow Group (NASDAQ:ZG) General Counsel Bradley Owens Sells 3,364 Shares

Zillow Group, Inc. (NASDAQ:ZG) General Counsel Bradley Owens sold 3,364 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $37.23, for a total value of $125,241.72. Following the transaction, the general counsel directly owned 65,245 shares of the company’s stock, valued at $2,429,071.35. This represents a 4.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 Stock Performance

NASDAQ ZG opened at $38.06 on Friday. Zillow Group, Inc. has a twelve month low of $37.26 and a twelve month high of $90.22. The stock has a market capitalization of $8.71 billion, a PE ratio of 152.24, a P/E/G ratio of 1.77 and a beta of 2.04. The stock has a 50-day simple moving average of $42.99 and a 200 day simple moving average of $56.54.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $705.17 million. During the same quarter in the previous year, the firm earned $0.41 EPS. The firm’s revenue was up 18.4% compared to the same quarter last year. As a group, equities research analysts forecast that Zillow Group, Inc. will post 0.82 EPS for the current fiscal year.

Key Zillow Group News

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Benchmark reissued a “buy” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Susquehanna set a $50.00 price objective on Zillow Group in a research report on Thursday, February 12th. Robert W. Baird cut their price objective on Zillow Group from $67.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. KeyCorp cut their price objective on Zillow Group from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Finally, Wells Fargo & Company cut their price target on Zillow Group from $60.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.24.

Hedge Funds Weigh In On Zillow Group

Several large investors have recently added to or reduced their stakes in the company. DoubleLine ETF Adviser LP raised its holdings in Zillow Group by 4.9% in the 3rd quarter. DoubleLine ETF Adviser LP now owns 3,214 shares of the technology company’s stock valued at $239,000 after acquiring an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Zillow Group by 4.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,657 shares of the technology company’s stock valued at $256,000 after acquiring an additional 156 shares in the last quarter. Signaturefd LLC raised its holdings in Zillow Group by 10.4% in the 4th quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock valued at $117,000 after acquiring an additional 161 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Zillow Group by 78.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock valued at $33,000 after acquiring an additional 187 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Zillow Group by 23.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock valued at $80,000 after acquiring an additional 194 shares in the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Company Profile

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.