Zillow Group (NASDAQ:ZG) Posts Earnings Results

Key Points

• Zillow reported Q1 EPS of $0.20, missing the analysts' consensus of $0.43 by $0.23.
• Shares traded up to $44.83 after the release; the stock carries a very high PE of 498.17 and a $10.76 billion market cap, while analysts' average target is $76.45 with a consensus rating of "Moderate Buy."
• Company insiders sold 60,801 shares worth about $2.68 million in the past 90 days (including a CFO sale), though insiders still own 29.88% of the stock.

Zillow Group (NASDAQ:ZG - Get Free Report) released its quarterly earnings data on Wednesday. The technology company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.23), Zacks reports. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.

Zillow Group Stock Performance

Shares of Zillow Group stock traded up $0.95 on Wednesday, reaching $44.83. The company had a trading volume of 1,388,572 shares, compared to its average volume of 1,084,555. The firm's 50 day moving average price is $43.65 and its two-hundred day moving average price is $58.22. The firm has a market cap of $10.76 billion, a PE ratio of 498.17, a PEG ratio of 2.17 and a beta of 2.04. Zillow Group has a 52-week low of $39.14 and a 52-week high of $90.22.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group set a $72.00 price objective on shares of Zillow Group in a research note on Wednesday, February 11th. Barclays cut their price objective on shares of Zillow Group from $66.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Monday, April 27th. Evercore reiterated an "outperform" rating on shares of Zillow Group in a research note on Tuesday, March 17th. BNP Paribas Exane assumed coverage on shares of Zillow Group in a research note on Wednesday, January 14th. They issued an "outperform" rating and a $85.00 price objective on the stock. Finally, DA Davidson set a $75.00 price objective on shares of Zillow Group in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Zillow Group has an average rating of "Moderate Buy" and an average target price of $76.45.

Insiders Place Their Bets

In related news, CFO Jeremy Hofmann sold 7,786 shares of Zillow Group stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total value of $340,481.78. Following the completion of the transaction, the chief financial officer owned 57,487 shares in the company, valued at approximately $2,513,906.51. The trade was a 11.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dan Spaulding sold 5,361 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $43.95, for a total transaction of $235,615.95. Following the transaction, the insider owned 41,080 shares of the company's stock, valued at $1,805,466. This trade represents a 11.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 60,801 shares of company stock worth $2,683,986. Insiders own 29.88% of the company's stock.

Institutional Trading of Zillow Group

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC raised its position in Zillow Group by 40.5% during the 1st quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company's stock worth $862,000 after buying an additional 3,717 shares during the last quarter. Millennium Management LLC lifted its holdings in Zillow Group by 110.8% in the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company's stock valued at $19,456,000 after purchasing an additional 152,955 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Zillow Group by 7.0% during the 1st 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 acquiring an additional 5,737 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Zillow Group by 5.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company's stock worth $1,445,000 after acquiring an additional 1,150 shares during the period. Finally, Prudential Financial Inc. raised its holdings in Zillow Group by 16.3% in the second quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company's stock valued at $543,000 after buying an additional 1,110 shares during the period. Hedge funds and other institutional investors own 20.32% of the company's stock.

Zillow Group Company Profile

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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