Zillow Group (NASDAQ:Z) CAO Jennifer Rock Sells 990 Shares

Zillow Group, Inc. (NASDAQ:Z) CAO Jennifer Rock sold 990 shares of the 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 transaction, the chief accounting officer directly owned 58,752 shares in the company, valued at $2,011,668.48. The trade was a 1.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Trading Down 3.0%

Shares of Zillow Group stock opened at $33.72 on Tuesday. The stock’s fifty day moving average price is $32.89 and its 200-day moving average price is $39.95. The firm has a market cap of $7.58 billion, a P/E ratio of 153.28, a P/E/G ratio of 1.51 and a beta of 1.98. Zillow Group, Inc. has a 12 month low of $29.23 and a 12 month high of $93.88.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The company had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.10 million. Analysts forecast that Zillow Group, Inc. will post 0.89 earnings per share for the current year.

Institutional Trading of Zillow Group

A number of institutional investors have recently bought and sold shares of Z. Leonteq Securities AG lifted its stake in shares of Zillow Group by 627.0% during the first quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider’s stock worth $56,000 after buying an additional 1,160 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Zillow Group by 283.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 1,045 shares during the last quarter. IFC & Insurance Marketing Inc. acquired a new stake in shares of Zillow Group during the fourth quarter worth about $68,000. SBI Okasan Asset Management Co.Ltd. purchased a new stake in Zillow Group in the fourth quarter valued at approximately $71,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in Zillow Group by 34.5% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider’s stock worth $80,000 after buying an additional 300 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group News Summary

Here are the key news stories impacting Zillow Group this week:

• Neutral Sentiment: CEO Jeremy Wacksman sold a combined 15,125 shares for approximately $517,320, while retaining 138,574 shares after the latest sale. The transactions reduced his holdings but were explicitly tied to tax obligations under a pre-arranged plan. CEO Form 4 filing
• Neutral Sentiment: CFO Jeremy Hofmann sold 9,171 shares worth about $313,675 across two transactions and continued to own 59,144 shares. The sales were also conducted under a 10b5-1 plan for tax withholding. CFO Form 4 filing
• Negative Sentiment: Several additional executives and insiders sold shares, bringing reported sales to 35,373 shares worth approximately $1.21 million. Dan Spaulding, Errol G. Samuelson, Jennifer Rock and David A. Beitel all reduced their holdings, creating a potentially negative near-term sentiment signal because of the number of insiders selling at roughly $34.24–$35.37 per share. The tax-related purpose substantially reduces the bearish significance. Insider Form 4 filings

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on Z. Evercore downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Royal Bank Of Canada reduced their price objective on shares of Zillow Group from $95.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft dropped their target price on Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Morgan Stanley set a $60.00 price target on Zillow Group in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. reduced their price target on Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.75.

About Zillow Group

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.