Zillow Group (NASDAQ:ZG) CAO Sells 990 Shares of Stock

Key Points

• Zillow CAO Jennifer Rock sold 990 shares at an average price of $34.24, generating $33,897.60. The sale reduced her stake by 1.66% and was made to cover tax withholding tied to vested equity awards.
• Zillow shares fell 2.4% to $34.32, while the company’s latest quarterly results exceeded expectations: adjusted EPS was $0.52 versus a $0.44 consensus estimate, and revenue rose 17.9% year over year to $772 million.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $52.29; 11 analysts rate the stock Buy, 13 Hold, and one Sell.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) CAO Jennifer Rock sold 990 shares of Zillow Group stock in a transaction on 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 transaction, the chief accounting officer owned 58,752 shares in the company, valued at approximately $2,011,668.48. This trade represents a 1.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Stock Down 2.4%

Shares of NASDAQ ZG traded down $0.84 during trading on Monday, hitting $34.32. 1,454,360 shares of the company traded hands, compared to its average volume of 1,202,979. The firm has a market capitalization of $7.72 billion, a P/E ratio of 156.01, a P/E/G ratio of 1.53 and a beta of 1.95. The company has a 50-day moving average price of $33.03 and a 200-day moving average price of $40.23. Zillow Group, Inc. has a 1 year low of $29.03 and a 1 year high of $90.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.08. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The business had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.25 million. During the same period last year, the company posted $0.40 EPS. The business's quarterly revenue was up 17.9% on a year-over-year basis. Research analysts predict that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ZG has been the topic of several research analyst reports. Benchmark reduced their price objective on Zillow Group from $110.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Evercore set a $40.00 target price on shares of Zillow Group and gave the stock an "in-line" rating in a research report on Thursday, August 6th. KeyCorp cut their price target on shares of Zillow Group from $65.00 to $57.00 and set an "overweight" rating on the stock in a report on Monday, August 3rd. Barclays dropped their price objective on shares of Zillow Group from $58.00 to $54.00 and set an "equal weight" rating for the company in a research report on Friday, May 8th. Finally, DA Davidson cut their target price on shares of Zillow Group from $60.00 to $50.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $52.29.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Arax Advisory Partners grew its position in Zillow Group by 402.3% in the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company's stock valued at $30,000 after acquiring an additional 354 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in shares of Zillow Group in the fourth quarter valued at $34,000. Kestra Advisory Services LLC acquired a new stake in Zillow Group during the 4th quarter valued at $47,000. Quarry LP acquired a new position in Zillow Group in the 4th quarter worth $56,000. Finally, Global Retirement Partners LLC lifted its holdings in Zillow Group by 4,130.0% in the 4th quarter. Global Retirement Partners LLC now owns 846 shares of the technology company's stock worth $58,000 after buying an additional 826 shares in the last quarter. Hedge funds and other institutional investors own 20.32% of the company's stock.

About Zillow Group

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.

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