Zillow Group, Inc. (Z) CEO Spencer M. Rascoff Sells 29,854 Shares
Zillow Group, Inc. (NASDAQ:Z) CEO Spencer M. Rascoff sold 29,854 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $43.94, for a total value of $1,311,784.76. Following the completion of the sale, the chief executive officer now owns 120,146 shares of the company’s stock, valued at $5,279,215.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Zillow Group, Inc. (NASDAQ:Z) opened at 45.65 on Friday. The firm’s market cap is $8.36 billion. Zillow Group, Inc. has a 1-year low of $31.22 and a 1-year high of $46.06. The company’s 50-day moving average price is $43.20 and its 200 day moving average price is $37.72.
Zillow Group (NASDAQ:Z) last issued its earnings results on Thursday, May 4th. The financial services provider reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.10. The firm had revenue of $245.78 million during the quarter. Zillow Group had a negative net margin of 19.58% and a negative return on equity of 5.65%. On average, equities analysts expect that Zillow Group, Inc. will post $0.46 earnings per share for the current fiscal year.
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A number of equities analysts have weighed in on the company. Zacks Investment Research raised Zillow Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th. Cowen and Company boosted their price objective on Zillow Group from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, May 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price target (up previously from $41.00) on shares of Zillow Group in a research note on Friday, May 5th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Zillow Group currently has a consensus rating of “Buy” and an average price target of $42.00.
Hedge funds and other institutional investors have recently modified their holdings of the company. Moore Capital Management LP bought a new position in shares of Zillow Group during the third quarter worth approximately $212,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Zillow Group during the first quarter worth approximately $209,000. Boothbay Fund Management LLC bought a new position in shares of Zillow Group during the fourth quarter worth approximately $231,000. Intellectus Partners LLC bought a new position in shares of Zillow Group during the fourth quarter worth approximately $232,000. Finally, Bayesian Capital Management LP bought a new position in shares of Zillow Group during the fourth quarter worth approximately $237,000. Institutional investors own 91.99% of the company’s stock.
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