Zillow Group (NASDAQ:Z) General Counsel Sells $85,190.78 in Stock

Key Points

• Zillow General Counsel Bradley Owens sold 2,246 shares on May 14 for about $85,190, a transaction made under a pre-arranged Rule 10b5-1 plan and tied to tax withholding on vested equity awards.
• Zillow recently beat earnings expectations, reporting $0.53 EPS versus $0.43 expected and revenue of $708 million, slightly above analyst estimates.
• The stock remains under pressure amid legal scrutiny, with several plaintiff-side law firms launching investigations, while shares were trading near $37.66, close to the 52-week low of $36.76.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) General Counsel Bradley Owens sold 2,246 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $37.93, for a total value of $85,190.78. Following the sale, the general counsel directly owned 68,609 shares in the company, valued at $2,602,339.37. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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

Shares of Z traded up $0.29 during mid-day trading on Friday, hitting $37.66. 3,075,609 shares of the stock were exchanged, compared to its average volume of 4,081,978. The company has a market cap of $8.62 billion, a PE ratio of 150.64, a price-to-earnings-growth ratio of 1.80 and a beta of 2.07. Zillow Group, Inc. has a 52-week low of $36.76 and a 52-week high of $93.88. The firm has a 50-day moving average of $43.14 and a two-hundred day moving average of $57.40.

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

Trending Headlines about Zillow Group

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

Institutional Trading of Zillow Group

Several hedge funds and other institutional investors have recently bought and sold shares of Z. Root Financial Partners LLC purchased a new stake in Zillow Group during the 3rd quarter valued at $27,000. V Square Quantitative Management LLC purchased a new stake in Zillow Group in the fourth quarter worth $28,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Zillow Group in the third quarter worth $29,000. Cullen Frost Bankers Inc. increased its stake in Zillow Group by 58.6% in the third quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider's stock worth $34,000 after purchasing an additional 163 shares during the period. Finally, Pittenger & Anderson Inc. increased its stake in Zillow Group by 32.8% in the third quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider's stock worth $42,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 71.01% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on Z. Needham & Company LLC reaffirmed a "hold" rating on shares of Zillow Group in a report on Wednesday, February 11th. Zelman & Associates upgraded Zillow Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 12th. Weiss Ratings upgraded Zillow Group from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, May 7th. JPMorgan Chase & Co. decreased their price target on Zillow Group from $84.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Finally, Keefe, Bruyette & Woods decreased their price target on Zillow Group from $60.00 to $50.00 and set a "market perform" rating on the stock in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $79.75.

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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