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

Zillow Group (NASDAQ:ZG) released 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 Price Performance

NASDAQ:ZG traded up $3.10 during mid-day trading on Wednesday, reaching $34.45. 2,882,416 shares of the company’s stock traded hands, compared to its average volume of 1,162,557. The company has a 50 day moving average price of $31.87 and a 200-day moving average price of $39.03. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of 156.60, a PEG ratio of 1.40 and a beta of 1.95. Zillow Group has a 12-month low of $27.25 and a 12-month high of $74.80.

Insiders Place Their Bets

In related news, Director Claire Thielke sold 1,187 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total value of $42,387.77. Following the completion of the sale, the director owned 2,375 shares of the company’s stock, valued at $84,811.25. This trade represents a 33.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Erik C. Blachford sold 792 shares of Zillow Group stock in a transaction on 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 sale, the director owned 34,160 shares in the company, valued at approximately $1,219,853.60. This trade represents a 2.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 38,539 shares of company stock worth $1,323,800. Insiders own 29.88% of the company’s stock.

Analysts Set New Price Targets

ZG has been the topic of several recent research reports. Wells Fargo & Company set a $21.00 price target on Zillow Group in a research report on Monday, October 12th. JPMorgan Chase & Co. dropped their price objective on Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Sanford C. Bernstein lowered Zillow Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $50.00 to $38.00 in a research note on Thursday, August 6th. Citigroup cut their target price on shares of Zillow Group from $68.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Susquehanna decreased their target price on shares of Zillow Group from $50.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Ten analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.33.

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.