Zillow Group (NASDAQ:ZG) Insider Errol Samuelson Sells 3,154 Shares

Key Points

• Zillow Group insider Errol Samuelson sold 3,154 shares for approximately $108,000 to cover tax withholding tied to vested equity awards, reducing his ownership by 2.35%.
• Zillow’s shares fell 2.4% to $34.32, despite the company reporting quarterly EPS of $0.52 and revenue of $772 million, both ahead of analyst expectations; revenue increased 17.9% year over year.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $52.29, while institutional investors own 20.32% of the stock.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) insider Errol Samuelson sold 3,154 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $107,992.96. Following the completion of the sale, the insider owned 130,885 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Trading Down 2.4%

NASDAQ:ZG traded down $0.84 during trading hours on Monday, hitting $34.32. The stock had a trading volume of 1,454,360 shares, compared to its average volume of 1,202,979. Zillow Group, Inc. has a 1-year low of $29.03 and a 1-year high of $90.22. The company has a market cap of $7.72 billion, a PE ratio of 156.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.95. The business has a 50 day simple moving average of $33.03 and a two-hundred day simple moving average of $40.23.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. The company had revenue of $772.00 million during the quarter, compared to analysts' expectations of $758.25 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The firm's revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 EPS. Research analysts expect 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 analyst reports. Citigroup dropped their price objective on Zillow Group from $68.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. The Goldman Sachs Group reduced their target price on Zillow Group from $53.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, June 12th. Citizens Jmp decreased their price target on shares of Zillow Group from $75.00 to $46.00 and set a "market outperform" rating for the company in a research report on Friday, August 7th. Susquehanna dropped their price target on shares of Zillow Group from $50.00 to $38.00 and set a "neutral" rating for the company in a research note on Thursday, August 6th. Finally, DA Davidson decreased their price objective on shares of Zillow Group from $60.00 to $50.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $52.29.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ZG. AQR Capital Management LLC increased its holdings in shares of Zillow Group by 40.5% in the 1st quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company's stock valued at $862,000 after acquiring an additional 3,717 shares during the last quarter. Millennium Management LLC lifted its stake in Zillow Group by 110.8% during the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company's stock worth $19,456,000 after purchasing an additional 152,955 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Zillow Group by 7.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company's stock worth $5,878,000 after purchasing an additional 5,737 shares during the period. JPMorgan Chase & Co. increased its stake in Zillow Group by 5.8% during the second quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company's stock valued at $1,445,000 after purchasing an additional 1,150 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Zillow Group by 16.3% during the second quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company's stock valued at $543,000 after purchasing an additional 1,110 shares during the last quarter. Institutional investors and hedge funds 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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