Zillow Group (NASDAQ:Z) COO Sells $46,602.60 in Stock

Key Points

• Zillow COO Jun Choo sold 1,228 shares on May 14 at an average price of $37.95, totaling $46,602.60. The filing says the sale was to cover tax withholding related to vesting equity awards.
• Zillow shares rose 0.8% to $37.66 in Friday trading, near the lower end of its 52-week range of $36.76 to $93.88. The stock remains well below its 50-day and 200-day moving averages.
• Recent earnings topped expectations, with Zillow reporting $0.53 EPS versus the $0.43 consensus and revenue of $708 million. Analysts currently rate the stock a “Moderate Buy” with a consensus target price of $79.75.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) COO Jun Choo sold 1,228 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $37.95, for a total value of $46,602.60. Following the completion of the sale, the chief operating officer owned 107,699 shares of the company's stock, valued at $4,087,177.05. This trade represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Up 0.8%

NASDAQ:Z traded up $0.29 during mid-day trading on Friday, reaching $37.66. 3,075,721 shares of the stock were exchanged, compared to its average volume of 4,082,034. Zillow Group, Inc. has a 1-year low of $36.76 and a 1-year high of $93.88. The business has a fifty day moving average price of $43.14 and a 200 day moving average price of $57.40. The firm has a market capitalization of $8.62 billion, a PE ratio of 150.64, a PEG ratio of 1.80 and a beta of 2.07.

Zillow Group (NASDAQ:Z - Get Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.10. The business had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.10 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. On average, sell-side analysts forecast that Zillow Group, Inc. will post 0.82 earnings per share for the current year.

Analyst Ratings Changes

Z has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of Zillow Group from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. dropped their price target on Zillow Group from $84.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, May 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Zillow Group in a report on Wednesday, February 11th. Zacks Research raised Zillow Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods decreased 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. Three analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $79.75.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. raised its stake in 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 buying an additional 135 shares during the period. Lansforsakringar Fondforvaltning AB publ lifted its stake in Zillow Group by 0.3% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 48,575 shares of the financial services provider's stock valued at $3,743,000 after buying an additional 144 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Zillow Group by 58.6% in the third quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider's stock valued at $34,000 after buying an additional 163 shares during the period. Doliver Advisors LP increased its position in shares of Zillow Group by 1.8% during the fourth quarter. Doliver Advisors LP now owns 9,687 shares of the financial services provider's stock worth $661,000 after acquiring an additional 171 shares in the last quarter. Finally, Empowered Funds LLC raised 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 acquiring an additional 171 shares during the period. Institutional investors own 71.01% of the company's stock.

Zillow Group News Summary

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.