Zillow Group (NASDAQ:Z) Insider Sells $107,992.96 in Stock

Key Points

• Insider sale: Zillow Group insider Errol Samuelson sold 3,154 shares for approximately $107,993 to cover tax withholding tied to vested equity awards, reducing his ownership by 2.35%.
• Stock performance: Zillow shares fell 3.0% to $33.72, well below their 52-week high of $93.88; institutional investors own about 71% of the company.
• Mixed outlook: Zillow exceeded quarterly earnings and revenue expectations, but recent analyst actions included downgrades and reduced price targets. The stock carries a “Moderate Buy” consensus rating with an average target of $66.75.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) insider Errol Samuelson sold 3,154 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $107,992.96. Following the transaction, the insider directly owned 130,885 shares of the company's stock, valued at $4,481,502.40. This represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Stock Down 3.0%

Shares of Z stock traded down $1.06 during trading on Monday, reaching $33.72. The company's stock had a trading volume of 5,034,691 shares, compared to its average volume of 4,238,369. Zillow Group, Inc. has a one year low of $29.23 and a one year high of $93.88. The business has a fifty day moving average price of $32.91 and a 200-day moving average price of $40.19. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 153.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.98.

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

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFC & Insurance Marketing Inc. bought a new position in shares of Zillow Group in the fourth quarter valued at about $68,000. SBI Okasan Asset Management Co.Ltd. acquired a new position in Zillow Group in the 4th quarter valued at about $71,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in Zillow Group by 34.5% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider's stock valued at $80,000 after buying an additional 300 shares during the last quarter. Advisory Services Network LLC bought a new position in Zillow Group in the 3rd quarter valued at about $99,000. Finally, Leonteq Securities AG lifted its position in Zillow Group by 627.0% during the first quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider's stock worth $56,000 after acquiring an additional 1,160 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings lowered Zillow Group from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, May 22nd. Morgan Stanley set a $60.00 price target on Zillow Group in a research report on Thursday, August 6th. Keefe, Bruyette & Woods dropped their price objective on Zillow Group from $37.00 to $34.00 and set a "market perform" rating on the stock in a research note on Friday, August 7th. Zacks Research downgraded Zillow Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Finally, UBS Group lowered their target price on shares of Zillow Group from $80.00 to $75.00 and set a "buy" rating on the stock in a report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Zillow Group currently has an average rating of "Moderate Buy" and an average target price of $66.75.

About Zillow Group

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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