Zillow Group Inc (NASDAQ:Z), which houses a portfolio of the largest and the most vibrant real estate and home-related brands on mobile and Web, announces two key executive promotions. Kathleen Philips, who has been the company’s Chief Operating Officer since 2013, has been named Chief Financial Officer, Zillow Group. Amy Bohutinsky, who has been Chief Marketing Officer since 2011, has been promoted to Chief Operating Officer, Zillow Group.
Kathleen Philips has been a critical part of Zillow Group’s executive team since joining the company in 2010 as General Counsel, and has spent the last two years as Chief Operating Officer. As COO, she ran mergers and acquisitions, corporate development, human resources, legal and customer support. Philips played a pivotal role in all of Zillow’s key corporate finance initiatives, including Zillow’s 2011 initial public offering, two follow-on equity offerings, and all ten of the company’s acquisitions, including Trulia, StreetEasy and HotPads. Most recently, Philips oversaw the entire Trulia acquisition process, FTC review, and subsequent integration. In her new role as CFO, Philips will oversee the finance, treasury and accounting functions for Zillow Group, and will continue to oversee legal operations and corporate development. Before joining Zillow, Philips served as General Counsel of Hotwire, StubHub, Pure Digital Technologies, and FanSnap.
“I’ve worked closely with Kathleen for over ten years, first at Hotwire where she was general counsel and a member of our senior leadership and now here at Zillow, where she has played an instrumental role in our success,” said Zillow Group CEO Spencer Rascoff. “Kathleen has been at the center of all of Zillow’s key business initiatives for the last five years. She is perfectly positioned to be Zillow Group’s new CFO, and I’m very excited to work with her in this new role.”
With Philips taking over the CFO role, Amy Bohutinsky has been promoted to Chief Operating Officer. Bohutinsky joined Zillow pre-launch in 2005, as one of its earliest employees, and has been a critical force in growing the company’s brand and traffic growth. As Zillow Group’s CMO, Bohutinsky has been responsible for brand strategy for all consumer and business to business brands in the Zillow Group portfolio, as well as growth, marketing and consumer care for the group’s flagship Zillow brand. As COO, Bohutinsky will oversee Zillow Group’s people organization (human resources, recruiting and learning and development), as well as marketing, communications and consumer care. Before joining Zillow, Bohutinsky ran communications for Hotwire.
“Amy has been with Zillow from the beginning and has played a critical role in growing the Zillow brand from launch to where we are today – the leading real estate website in the country,” said Rascoff. “She’s an incredibly valuable member of our executive team, and this promotion recognizes her contributions to the company as an individual and a leader.”
Philips and Bohutinsky will continue to report to Spencer Rascoff, Zillow Group CEO. (Original Source)
Shares of Zillow Inc. closed today at $76.5, down $5 or 6.13%. Z has a 1-year high of $148.54 and a 1-year low of $75.77. The stock’s 50-day moving average is $84.65 and its 200-day moving average is $96.77.
On the ratings front, Zillow has been the subject of a number of recent research reports. In a report issued on July 31, Cowen analyst Thomas Champion downgraded Z to Sell, with a price target of $60, which implies a downside of 26.5% from current levels. Separately, on July 20, Barclays’ Christopher Merwin downgraded the stock to Sell and has a price target of $70.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Thomas Champion and Christopher Merwin have a total average return of 26.4% and -4.9% respectively. Champion has a success rate of 75.0% and is ranked #1588 out of 3724 analysts, while Merwin has a success rate of 46.4% and is ranked #3247.
The street is mostly Neutral on Z stock. Out of 9 analysts who cover the stock, 5 suggest a Hold rating and 4 recommend to Buy the stock. The 12-month average price target assigned to the stock is $127.60, which implies an upside of 56.3% from current levels.
Zillow Group Incoperates the real estate and home-related information marketplaces on mobile and the Web, with a complementary portfolio of brands and products to help people find vital information about homes and connect with local professionals.