Zillow Group (NASDAQ:ZG) Director Erik Blachford Sells 791 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) Director Erik Blachford sold 791 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $34.80, for a total value of $27,526.80. Following the transaction, the director owned 34,952 shares in the company, valued at $1,216,329.60. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zillow Group Trading Up 3.0%

Shares of Zillow Group stock opened at $35.83 on Wednesday. The firm has a market capitalization of $8.20 billion, a PE ratio of 143.32, a price-to-earnings-growth ratio of 1.49 and a beta of 1.94. The business’s 50-day moving average price is $40.39 and its 200-day moving average price is $52.43. Zillow Group, Inc. has a 12 month low of $34.50 and a 12 month high of $90.22.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. As a group, analysts predict that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its holdings in Zillow Group by 78.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after buying an additional 187 shares during the period. Arax Advisory Partners lifted its holdings in Zillow Group by 402.3% in the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after buying an additional 354 shares during the period. First Command Advisory Services Inc. purchased a new stake in Zillow Group in the 4th quarter worth approximately $34,000. Kestra Advisory Services LLC purchased a new stake in Zillow Group in the 4th quarter worth approximately $47,000. Finally, Quarry LP purchased a new stake in Zillow Group in the 4th quarter worth approximately $56,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Wall Street Analysts Forecast Growth

ZG has been the topic of several recent research reports. Susquehanna set a $50.00 price target on Zillow Group in a research report on Thursday, February 12th. The Goldman Sachs Group set a $53.00 price target on Zillow Group in a research report on Thursday, May 7th. UBS Group reduced their price target on Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Wells Fargo & Company reduced their price target on Zillow Group from $60.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Finally, Citigroup restated a “market outperform” rating on shares of Zillow Group in a research report on Tuesday, May 26th. Thirteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $71.24.

About Zillow Group

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.