Zillow Group (NASDAQ:ZG) Releases Earnings Results, Misses Estimates By $0.38 EPS

Zillow Group (NASDAQ:ZG) posted its earnings results on Wednesday. The technology company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38), Zacks reports. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%.

Zillow Group Stock Performance

ZG stock traded up $3.10 during mid-day trading on Wednesday, reaching $34.45. 2,924,035 shares of the stock traded hands, compared to its average volume of 1,164,283. Zillow Group has a one year low of $27.25 and a one year high of $74.80. The stock has a market capitalization of $7.75 billion, a PE ratio of 156.60, a PEG ratio of 1.40 and a beta of 1.95. The business has a 50-day moving average price of $31.87 and a two-hundred day moving average price of $39.03.

Analysts Set New Price Targets

ZG has been the subject of a number of recent research reports. Royal Bank Of Canada dropped their price objective on shares of Zillow Group from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Cantor Fitzgerald lowered their price target on shares of Zillow Group from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Zillow Group in a report on Wednesday, August 19th. Finally, Citigroup dropped their price target on Zillow Group from $68.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Ten analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Zillow Group has an average rating of “Hold” and an average price target of $50.33.

Insiders Place Their Bets

In related news, Director Erik C. Blachford sold 792 shares of Zillow Group stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $35.71, for a total transaction of $28,282.32. Following the completion of the transaction, the director directly owned 34,160 shares of the company’s stock, valued at approximately $1,219,853.60. The trade was a 2.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeremy Wacksman sold 9,339 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.18, for a total transaction of $319,207.02. Following the transaction, the chief executive officer owned 138,574 shares in the company, valued at $4,736,459.32. The trade was a 6.31% 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. In the last quarter, insiders have sold 38,539 shares of company stock valued at $1,323,800. 29.88% of the stock is currently owned by company insiders.

Zillow Group Company Profile

Zillow Group, Inc is a digital real estate company that operates online marketplaces and technology platforms for consumers, real estate professionals, and other housing industry participants. Its services are designed to help people search for homes, understand property values, connect with agents, and manage transactions throughout the residential real estate process.

The company’s portfolio includes Zillow, Trulia, StreetEasy, HotPads, and ShowingTime+. Zillow provides home listings, estimated property values, rental information, agent connections, mortgage resources, and other housing-related tools.