Zillow Group (NASDAQ:ZG) 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, for total proceeds of $46,602.60. The sale reduced his stake by 1.13% and was tied to tax withholding on vested equity awards.
• Zillow shares were up 0.5% in Friday trading, reaching $38.06. The stock remains well below its 50-day and 200-day moving averages and is near its 52-week low of $37.26.
• Recent earnings beat expectations, with Zillow reporting $0.53 EPS versus $0.43 expected and revenue of $708 million, up 18.4% year over year. Despite the beat, analyst sentiment is mixed, with an average “Moderate Buy” rating and a $71.24 price target.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) COO Jun Choo sold 1,228 shares of the business'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 transaction, the chief operating officer owned 107,699 shares in the company, valued at $4,087,177.05. The trade was a 1.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Trading Up 0.5%

Shares of NASDAQ:ZG traded up $0.20 during mid-day trading on Friday, reaching $38.06. The company had a trading volume of 1,220,724 shares, compared to its average volume of 1,107,114. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 152.24, a PEG ratio of 1.82 and a beta of 2.04. The company's 50-day moving average price is $43.15 and its 200-day moving average price is $56.67. Zillow Group, Inc. has a one year low of $37.26 and a one year high of $90.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.10. The company had revenue of $708.00 million for the quarter, compared to analysts' expectations of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. Zillow Group's revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, research analysts anticipate that Zillow Group, Inc. will post 0.82 EPS for the current fiscal year.

Trending Headlines about Zillow Group

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Zillow highlighted survey results showing most prospective home sellers want broad public exposure rather than private listing networks. The company said 85% of soon-to-be sellers are more likely to hire an agent who can pre-market to the broadest online audience, reinforcing Zillow’s core pitch that open-market listings benefit sellers. Article Title
• Positive Sentiment: Zillow also emphasized its data showing sellers lose money in same-agent dual agency deals and off-MLS listings, a message that could support demand for Zillow’s public-listing ecosystem and advertising tools. Article Title
• Neutral Sentiment: JPMorgan/other analyst commentary pointed to a lower price target for Zillow Group, suggesting Wall Street expectations have softened and may be limiting upside sentiment. Article Title
• Negative Sentiment: Multiple Zillow insiders, including the CEO, COO, CTO, CAO, general counsel, and another executive, sold shares this week. The company said the sales were mainly to cover tax withholding tied to vesting equity awards and some were made under a 10b5-1 plan, but the cluster of insider selling can still create a bearish overhang for investors. Article Title
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims against Zillow, adding legal uncertainty that may be a headwind for the stock. Article Title

Institutional Investors Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in Zillow Group during the 4th quarter valued at $152,050,000. Independent Franchise Partners LLP raised its holdings in Zillow Group by 1.1% during the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company's stock valued at $138,135,000 after acquiring an additional 21,862 shares during the period. M&T Bank Corp raised its holdings in Zillow Group by 38,344.0% during the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company's stock valued at $120,092,000 after acquiring an additional 1,600,097 shares during the period. Tiger Global Management LLC raised its holdings in Zillow Group by 30.7% during the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company's stock valued at $69,849,000 after acquiring an additional 240,690 shares during the period. Finally, UBS Group AG raised its holdings in Zillow Group by 44.5% during the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company's stock valued at $69,489,000 after acquiring an additional 313,643 shares during the period. Institutional investors own 20.32% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on ZG. DA Davidson set a $75.00 price target on shares of Zillow Group in a report on Thursday, February 12th. UBS Group lowered their price target 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. The Goldman Sachs Group set a $53.00 price target on shares of Zillow Group in a report on Thursday, May 7th. Benchmark reaffirmed a "buy" rating on shares of Zillow Group in a report on Wednesday, February 11th. Finally, Canaccord Genuity Group lowered their target price on shares of Zillow Group from $72.00 to $52.00 and set a "hold" rating on the stock in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $71.24.

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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