Jennifer Rock Sells 990 Shares of Zillow Group (NASDAQ:Z) Stock

Key Points

• Jennifer Rock sold 990 Zillow Group shares at an average price of $34.24, generating $33,897.60. The sale covered tax withholding related to vested equity awards, reducing her ownership by 1.66% to 58,752 shares.
• Zillow’s stock recently traded at $33.72, well below its 52-week high of $93.88. The company’s latest quarterly results beat expectations, with EPS of $0.52 versus $0.45 expected and revenue of $772 million.
• Analyst sentiment remains moderately bullish, with a consensus price target of $66.75, although several firms recently downgraded the stock to “hold.” Institutional investors own approximately 71.01% of Zillow’s shares.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) CAO Jennifer Rock sold 990 shares of the firm'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 sale, the chief accounting officer owned 58,752 shares of the company's stock, valued at $2,011,668.48. This trade represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Price Performance

NASDAQ Z traded down $1.06 during trading on Monday, reaching $33.72. 5,034,691 shares of the company's stock were exchanged, compared to its average volume of 4,238,369. The business has a 50 day moving average price of $32.91 and a 200-day moving average price of $40.19. The stock has a market capitalization of $7.72 billion, a P/E ratio of 153.28, a PEG ratio of 1.51 and a beta of 1.98. Zillow Group, Inc. has a fifty-two week low of $29.23 and a fifty-two week high of $93.88.

Zillow Group (NASDAQ:Z - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The company had revenue of $772.00 million during the quarter, compared to analysts' expectations of $758.10 million. On average, analysts forecast that Zillow Group, Inc. will post 0.89 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in Z. Empowered Funds LLC lifted its holdings in shares of Zillow Group by 4.7% during the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider's stock worth $262,000 after buying an additional 171 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Zillow Group by 21.7% in the first quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider's stock valued at $1,407,000 after acquiring an additional 3,653 shares in the last quarter. American Century Companies Inc. increased its position in Zillow Group by 1.6% during the second quarter. American Century Companies Inc. now owns 23,064 shares of the financial services provider's stock worth $1,616,000 after acquiring an additional 362 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Zillow Group by 186.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the financial services provider's stock worth $118,000 after acquiring an additional 1,092 shares during the period. Finally, First Trust Advisors LP raised its stake in Zillow Group by 1,895.4% in the 2nd quarter. First Trust Advisors LP now owns 128,362 shares of the financial services provider's stock worth $8,992,000 after purchasing an additional 121,929 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on Z. Sanford C. Bernstein cut shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. UBS Group dropped their price objective on shares of Zillow Group from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, April 28th. Zacks Research cut shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Morgan Stanley set a $60.00 target price on shares of Zillow Group in a report on Thursday, August 6th. Finally, Wall Street Zen lowered shares of Zillow Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $66.75.

Zillow Group Company Profile

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.

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