Zillow Group (ZG) Projected to Announce Earnings on Wednesday

Zillow Group (NASDAQ:ZG) is expected to be posting its results after the market closes on Wednesday, August 5th. Analysts expect the company to post earnings of $0.44 per share and revenue of $757.9170 million for the quarter.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, beating 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 company 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. Zillow Group’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, analysts expect Zillow Group to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Zillow Group Stock Up 5.7%

ZG stock opened at $33.81 on Wednesday. Zillow Group has a twelve month low of $29.03 and a twelve month high of $90.22. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 135.24, a price-to-earnings-growth ratio of 1.37 and a beta of 1.95. The firm’s fifty day simple moving average is $33.39 and its two-hundred day simple moving average is $43.18.

Insider Activity at Zillow Group

In related news, General Counsel Bradley D. Owens sold 3,364 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $37.23, for a total value of $125,241.72. Following the completion of the sale, the general counsel directly owned 65,245 shares of the company’s stock, valued at $2,429,071.35. This represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dan Spaulding sold 3,078 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $115,117.20. Following the transaction, the insider owned 49,696 shares in the company, valued at approximately $1,858,630.40. The trade was a 5.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 42,910 shares of company stock worth $1,605,732 over the last three months. Corporate insiders own 29.88% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently modified their holdings of ZG. Arax Advisory Partners grew its holdings in shares of Zillow Group by 402.3% during the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock valued at $30,000 after buying an additional 354 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Zillow Group during the fourth quarter worth $47,000. Quarry LP acquired a new position in shares of Zillow Group in the 4th quarter valued at about $56,000. Group One Trading LLC boosted its stake in shares of Zillow Group by 884.7% in the third quarter. Group One Trading LLC now owns 1,477 shares of the technology company’s stock worth $110,000 after buying an additional 1,327 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Zillow Group by 10.1% during the fourth 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 period. 20.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. KeyCorp cut 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. Zacks Research raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Citigroup restated a “market outperform” rating on shares of Zillow Group in a research report on Tuesday, May 26th. Wells Fargo & Company upped their target price on Zillow Group from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Finally, UBS Group reduced their price target on Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.48.

About Zillow Group

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.