Zillow Group (NASDAQ:ZG) Insider Sells $111,593.83 in Stock

Zillow Group, Inc. (NASDAQ:ZG) insider Errol Samuelson sold 2,939 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $37.97, for a total value of $111,593.83. Following the completion of the sale, the insider owned 134,039 shares in the company, valued at approximately $5,089,460.83. This represents a 2.15% 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 Price Performance

Shares of NASDAQ ZG opened at $38.06 on Monday. Zillow Group, Inc. has a 52 week low of $37.26 and a 52 week high of $90.22. The business’s 50 day moving average price is $42.99 and its 200 day moving average price is $56.42. 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 (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.17 million. During the same quarter in the prior year, the firm posted $0.41 EPS. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. As a group, research analysts expect that Zillow Group, Inc. will post 0.82 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ZG. Norges Bank purchased a new position in shares of Zillow Group during the 4th quarter valued at approximately $152,050,000. M&T Bank Corp lifted its position in shares of 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 buying an additional 1,600,097 shares in the last quarter. UBS Group AG lifted its position in shares of 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 buying an additional 313,643 shares in the last quarter. Tiger Global Management LLC lifted its position in shares of 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 buying an additional 240,690 shares in the last quarter. Finally, Virtu Financial LLC lifted its position in shares of Zillow Group by 271.9% during the 3rd quarter. Virtu Financial LLC now owns 293,718 shares of the technology company’s stock valued at $21,864,000 after buying an additional 214,743 shares in the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ZG shares. Susquehanna set a $50.00 price objective on Zillow Group in a research report on Thursday, February 12th. DA Davidson set a $75.00 price objective on Zillow Group in a research report on Thursday, February 12th. Barclays lowered their price objective on Zillow Group from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Canaccord Genuity Group lowered their price objective on Zillow Group from $72.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, May 7th. Finally, Wells Fargo & Company lowered their price objective on Zillow Group from $60.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. One equities research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.24.

Key Zillow Group News

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

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.