Zillow Group (NASDAQ:ZG) CAO Sells $33,897.60 in Stock

Zillow Group, Inc. (NASDAQ:ZG) CAO Jennifer Rock sold 990 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total value of $33,897.60. Following the completion of the transaction, the chief accounting officer directly owned 58,752 shares of the company’s stock, valued at $2,011,668.48. The trade was a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Stock Performance

Shares of ZG opened at $37.44 on Thursday. The stock’s 50-day simple moving average is $33.07 and its 200 day simple moving average is $39.60. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 170.19, a price-to-earnings-growth ratio of 1.54 and a beta of 1.95. Zillow Group, Inc. has a 52-week low of $29.03 and a 52-week high of $90.22.

Zillow Group (NASDAQ:ZG) last posted its earnings results 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. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The business had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.25 million. During the same quarter in the previous year, the firm earned $0.40 EPS. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, research analysts forecast that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zillow Group

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Zillow Group by 10.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the technology company’s stock worth $147,000 after acquiring an additional 198 shares during the last quarter. Lido Advisors LLC increased its stake in Zillow Group by 0.4% in the fourth quarter. Lido Advisors LLC now owns 50,846 shares of the technology company’s stock valued at $3,627,000 after acquiring an additional 215 shares during the last quarter. Royal London Asset Management Ltd. increased its stake in Zillow Group by 1.4% in the second quarter. Royal London Asset Management Ltd. now owns 18,217 shares of the technology company’s stock valued at $1,248,000 after acquiring an additional 247 shares during the last quarter. Mackenzie Financial Corp raised its position in Zillow Group by 8.5% during the third quarter. Mackenzie Financial Corp now owns 3,301 shares of the technology company’s stock valued at $246,000 after purchasing an additional 258 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in Zillow Group by 9.2% during the second quarter. California State Teachers Retirement System now owns 3,147 shares of the technology company’s stock valued at $216,000 after purchasing an additional 264 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Mizuho lowered their target price on shares of Zillow Group from $65.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Sanford C. Bernstein cut shares of Zillow Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $50.00 to $38.00 in a report on Thursday, August 6th. Benchmark decreased their price target on shares of Zillow Group from $110.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. The Goldman Sachs Group lowered their price objective on Zillow Group from $53.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, June 12th. Finally, Royal Bank Of Canada dropped their price objective on Zillow Group from $70.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $52.29.

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.