Jun Choo Sells 1,228 Shares of Zillow Group (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) COO Jun Choo sold 1,228 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $37.95, for a total transaction of $46,602.60. Following the sale, the chief operating officer owned 107,699 shares of the company’s stock, valued at approximately $4,087,177.05. This represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Stock Performance

NASDAQ:ZG opened at $38.06 on Friday. The firm has a market cap of $8.71 billion, a P/E ratio of 152.24, a P/E/G ratio of 1.78 and a beta of 2.04. Zillow Group, Inc. has a fifty-two week low of $37.26 and a fifty-two week high of $90.22. The firm has a 50-day simple moving average of $42.99 and a two-hundred day simple moving average of $56.54.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The business had revenue of $708.00 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. On average, equities research analysts predict that Zillow Group, Inc. will post 0.82 EPS for the current 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

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Barclays reduced 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 note on Friday, May 8th. Wells Fargo & Company dropped their price target on shares of Zillow Group from $60.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. Citigroup dropped their price target on shares of Zillow Group from $78.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Piper Sandler dropped their price target on shares of Zillow Group from $70.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Finally, KeyCorp dropped their price target on shares of Zillow Group from $75.00 to $65.00 and set an “overweight” 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 assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.24.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. DoubleLine ETF Adviser LP boosted its holdings in shares of Zillow Group by 4.9% in the third quarter. DoubleLine ETF Adviser LP now owns 3,214 shares of the technology company’s stock worth $239,000 after buying an additional 150 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Zillow Group by 4.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,657 shares of the technology company’s stock worth $256,000 after buying an additional 156 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Zillow Group by 10.4% in the fourth quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock worth $117,000 after buying an additional 161 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Zillow Group by 78.9% in the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after buying an additional 187 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Zillow Group by 23.1% in the third quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock worth $80,000 after buying an additional 194 shares during the last quarter. 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.