Zillow Group (NASDAQ:ZG) Director Sells 792 Shares

Zillow Group, Inc. (NASDAQ:ZG) Director Erik Blachford sold 792 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $35.71, for a total transaction 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 document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zillow Group Trading Down 2.0%

Shares of NASDAQ ZG traded down $0.72 during mid-day trading on Friday, reaching $35.32. The company had a trading volume of 549,163 shares, compared to its average volume of 1,171,442. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 160.55, a price-to-earnings-growth ratio of 1.54 and a beta of 1.97. Zillow Group, Inc. has a 52 week low of $29.03 and a 52 week high of $90.22. The business’s 50-day moving average is $34.07 and its 200-day moving average is $38.27.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ZG. Royal Bank Of Canada dropped their price objective on Zillow Group from $70.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Benchmark reiterated a “buy” rating on shares of Zillow Group in a report on Monday, August 24th. Citigroup dropped their price target on Zillow Group from $68.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Wells Fargo & Company decreased their price objective on Zillow Group from $46.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, August 7th. Finally, Evercore set a $40.00 price objective on shares of Zillow Group and gave the stock an “in-line” rating in a research note on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $53.14.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors have recently added to or reduced their stakes in ZG. Technology Crossover Management XI Ltd. purchased a new position in Zillow Group in the second quarter valued at about $73,694,895. Norges Bank purchased a new stake in shares of Zillow Group during the fourth quarter valued at about $152,050,000. Independent Franchise Partners LLP boosted its holdings in shares of Zillow Group by 1.1% in the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after buying an additional 21,862 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Zillow Group by 56,236.3% in the 2nd quarter. California State Teachers Retirement System now owns 1,485,024 shares of the technology company’s stock valued at $47,339,000 after buying an additional 1,482,388 shares in the last quarter. Finally, Kahn Brothers Group Inc. purchased a new position in shares of Zillow Group in the 2nd quarter worth approximately $37,265,000. Institutional investors own 20.32% of the company’s stock.

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.