Erik Blachford Sells 792 Shares of Zillow Group (NASDAQ:Z) Stock

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

Zillow Group Stock Down 2.1%

Shares of Z stock opened at $34.59 on Friday. The company has a market capitalization of $7.78 billion, a P/E ratio of 157.23, a P/E/G ratio of 1.51 and a beta of 2.00. Zillow Group, Inc. has a 12-month low of $29.23 and a 12-month high of $93.88. The firm has a 50-day moving average price of $33.83 and a 200 day moving average price of $38.07.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. The company had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.10 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. As a group, research analysts expect that Zillow Group, Inc. will post 0.89 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Morgan Stanley set a $60.00 price target on shares of Zillow Group in a research report on Thursday, August 6th. Keefe, Bruyette & Woods reduced their target price on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a research report on Friday, August 7th. Wall Street Zen lowered shares of Zillow Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Royal Bank Of Canada lowered their target price on Zillow Group from $95.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, June 10th. Finally, Zacks Research lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.75.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in Z. Independent Franchise Partners LLP lifted its stake in Zillow Group by 0.9% in the fourth quarter. Independent Franchise Partners LLP now owns 10,953,405 shares of the financial services provider’s stock valued at $747,241,000 after buying an additional 94,569 shares during the period. Capital World Investors raised its position in shares of Zillow Group by 1.8% in the 4th quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider’s stock valued at $738,554,000 after acquiring an additional 191,058 shares during the period. Tiger Global Management LLC boosted its stake in Zillow Group by 21.7% during the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock worth $304,927,000 after acquiring an additional 1,312,000 shares during the last quarter. California State Teachers Retirement System grew its holdings in Zillow Group by 1,877.4% during the second quarter. California State Teachers Retirement System now owns 5,533,431 shares of the financial services provider’s stock valued at $175,553,000 after purchasing an additional 5,253,603 shares during the period. Finally, State Street Corp increased its stake in Zillow Group by 3.9% in the fourth quarter. State Street Corp now owns 3,838,788 shares of the financial services provider’s stock valued at $261,882,000 after purchasing an additional 143,726 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.