Zillow Group, Inc. has seen notable movement in its stock as General Counsel Bradley Owens sold 2,602 shares of the company’s stock on February 13, 2024. The shares were sold at an average price of $44.42, resulting in a total transaction value of $115,580.84. Following this sale, Owens holds 33,355 shares in Zillow, which are valued at approximately $1,481,629.10. This transaction reflects a decrease of 7.24% in his ownership stake.
In midday trading on the same day, shares of Zillow Group (NASDAQ:Z) fell by $0.37, reaching a price of $43.45. During trading, over 10.8 million shares changed hands, significantly surpassing the average volume of 4.4 million shares. Zillow Group’s market capitalization stands at $10.52 billion, with a price-to-earnings (P/E) ratio of 482.83 and a price-to-earnings-growth (PEG) ratio of 2.65. The stock has experienced a 12-month low of $42.50 and a 12-month high of $93.88. Additionally, Zillow’s 50-day moving average is $66.23, and its 200-day moving average is $74.16.
Zillow Group reported its latest quarterly earnings on February 10, 2024, revealing $0.39 earnings per share (EPS), which fell short of analysts’ expectations of $0.42 by $0.03. The company achieved revenue of $654 million, slightly exceeding forecasts of $650.40 million. Analysts predict that Zillow will report an EPS of $0.32 for the current fiscal year.
Institutional Investors Active in Zillow Group
Recent trading activity has also involved several institutional investors purchasing and selling shares of Zillow Group. Notably, Vanguard Group Inc. increased its holdings by 0.3% in the third quarter, now owning 23,073,862 shares valued at $1.78 billion. Similarly, Capital World Investors raised its position by 1.8% in the fourth quarter, acquiring an additional 191,058 shares to reach a total of 10,826,066 shares, worth $738.55 million.
Other significant transactions include Ninety One UK Ltd, which increased its stake by 2.0%, and Eminence Capital LP, which raised its holdings by an impressive 63.6% in the second quarter. After acquiring an additional 1,546,577 shares, Eminence now controls 3,978,731 shares valued at $278.71 million. Additionally, State Street Corp boosted its position by 3.9% in the fourth quarter, now owning 3,838,788 shares worth $261.88 million.
Overall, institutional investors own approximately 71.01% of Zillow Group’s stock, reflecting strong interest and confidence in the company’s future prospects.
Zillow Group Overview
Zillow Group, Inc. operates as an online real estate marketplace, providing a suite of consumer-facing websites and mobile applications. These platforms facilitate connections between buyers, sellers, renters, homeowners, and real estate professionals. Zillow aggregates property listings and rental options, assisting users in searching for homes, estimating property values, and linking with agents and service providers.
Revenue for Zillow primarily comes from advertising and lead-generation services aimed at real estate professionals, property managers, and mortgage lenders. Key products include the well-known Zillow and Trulia websites, which feature searchable listings, neighborhood data, and the automated home valuation tool known as the “Zestimate.” The company also operates a rentals marketplace and a mortgage marketplace, alongside services designed to support home buying and selling transactions.
As Zillow Group continues to navigate market fluctuations, the recent stock activity by its General Counsel and institutional investors highlights the ongoing dynamics within the company and its influence in the real estate sector.
