Zillow Group, Inc. (NASDAQ:ZG) CTO David A. Beitel Sells 3,642 Shares

Zillow Group, Inc. (NASDAQ:ZG) CTO David A. Beitel sold 3,642 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $68.65, for a total transaction of $250,023.30. Following the transaction, the chief technology officer now owns 170,737 shares in the company, valued at approximately $11,721,095.05. This trade represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Zillow Group Stock Performance

Shares of ZG opened at $68.76 on Monday. The company has a market capitalization of $16.68 billion, a price-to-earnings ratio of -146.30, a PEG ratio of 8.90 and a beta of 2.22. The company’s 50 day simple moving average is $66.00 and its 200 day simple moving average is $71.70. Zillow Group, Inc. has a 1 year low of $38.40 and a 1 year high of $86.58.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.06). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. The company had revenue of $598.00 million for the quarter, compared to analyst estimates of $587.88 million. During the same period last year, the company posted $0.36 EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC increased its position in shares of Zillow Group by 110.8% in the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock worth $19,456,000 after acquiring an additional 152,955 shares in the last quarter. EFG Asset Management North America Corp. boosted its stake in shares of Zillow Group by 6.5% in the first quarter. EFG Asset Management North America Corp. now owns 43,245 shares of the technology company’s stock valued at $2,892,000 after purchasing an additional 2,653 shares during the period. AQR Capital Management LLC boosted its stake in shares of Zillow Group by 40.5% in the first quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock valued at $862,000 after purchasing an additional 3,717 shares during the period. Driehaus Capital Management LLC bought a new position in Zillow Group during the 1st quarter valued at $9,998,000. Finally, Trexquant Investment LP bought a new position in Zillow Group during the 1st quarter valued at $370,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ZG shares. KeyCorp decreased their price objective on shares of Zillow Group from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. William Blair started coverage on shares of Zillow Group in a report on Monday, April 21st. They set a “market perform” rating on the stock. Cantor Fitzgerald boosted their price objective on shares of Zillow Group from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. UBS Group decreased their price objective on shares of Zillow Group from $98.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $88.00 price objective on shares of Zillow Group in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.80.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.