Zillow Group, Inc. (NASDAQ:ZG) Director Erik C. Blachford Sells 965 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) Director Erik C. Blachford sold 965 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $70.35, for a total value of $67,887.75. Following the completion of the sale, the director now directly owns 35,474 shares in the company, valued at $2,495,595.90. This represents a 2.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Zillow Group Price Performance

Shares of NASDAQ ZG opened at $69.41 on Tuesday. The stock has a market cap of $16.76 billion, a PE ratio of -147.68, a price-to-earnings-growth ratio of 8.90 and a beta of 2.11. Zillow Group, Inc. has a 52-week low of $40.30 and a 52-week high of $86.58. The business has a 50-day moving average price of $65.26 and a 200 day moving average price of $71.39.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America upped their target price on shares of Zillow Group from $81.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 price target on shares of Zillow Group in a report on Wednesday, February 12th. Wells Fargo & Company assumed coverage on shares of Zillow Group in a research report on Monday, April 28th. They issued a “mixed” rating and a $62.00 price objective on the stock. Keefe, Bruyette & Woods raised shares of Zillow Group to a “hold” rating in a research report on Friday, March 28th. Finally, Stephens reiterated an “overweight” rating and set a $73.00 target price on shares of Zillow Group in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Zillow Group during the fourth quarter worth approximately $27,000. Blue Trust Inc. lifted its holdings in shares of Zillow Group by 70.2% during the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after purchasing an additional 172 shares during the period. National Bank of Canada FI grew its position in Zillow Group by 79.4% in the 1st quarter. National Bank of Canada FI now owns 488 shares of the technology company’s stock valued at $33,000 after buying an additional 216 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in Zillow Group in the 1st quarter valued at $42,000. Finally, CX Institutional acquired a new position in Zillow Group in the 1st quarter valued at $46,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

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.