Zillow Group (NASDAQ:ZG) Director Sells $28,282.32 in Stock

Zillow Group, Inc. (NASDAQ:ZG) Director Erik Blachford sold 792 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total value of $28,282.32. Following the sale, the director directly owned 34,160 shares of the company’s stock, valued at $1,219,853.60. This represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $35.32 on Monday. The firm has a market capitalization of $7.94 billion, a PE ratio of 160.55, a price-to-earnings-growth ratio of 1.54 and a beta of 1.97. Zillow Group, Inc. has a 1 year low of $29.03 and a 1 year high of $90.22. The firm’s 50-day moving average is $34.15 and its 200-day moving average is $38.22.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.25 million. During the same period in the previous year, the firm posted $0.40 earnings per share. Zillow Group’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Technology Crossover Management XI Ltd. acquired a new stake in shares of Zillow Group during the second quarter worth about $73,694,895. Norges Bank acquired a new position in shares of Zillow Group in the 4th quarter valued at approximately $152,050,000. California State Teachers Retirement System increased its stake in Zillow Group by 56,236.3% during the 2nd quarter. California State Teachers Retirement System now owns 1,485,024 shares of the technology company’s stock worth $47,339,000 after purchasing an additional 1,482,388 shares in the last quarter. Kahn Brothers Group Inc. bought a new stake in Zillow Group during the 2nd quarter worth approximately $37,265,000. Finally, Tiger Global Management LLC raised its holdings in Zillow Group by 30.7% during the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock worth $69,849,000 after buying an additional 240,690 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ZG shares. Citigroup cut their price target on Zillow Group from $68.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. JPMorgan Chase & Co. cut their target price on Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. The Goldman Sachs Group reduced their target price on Zillow Group from $53.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, June 12th. Weiss Ratings restated a “sell (d)” rating on shares of Zillow Group in a research report on Wednesday, August 19th. Finally, Royal Bank Of Canada lowered their price target on Zillow Group from $70.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Zillow Group has an average rating of “Hold” and a consensus price target of $53.14.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.