Zillow Group (NASDAQ:ZG) Insider Sells $107,992.96 in Stock

Zillow Group, Inc. (NASDAQ:ZG) insider Errol Samuelson sold 3,154 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $107,992.96. Following the sale, the insider directly owned 130,885 shares in the company, valued at approximately $4,481,502.40. This represents a 2.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Trading Up 6.1%

Shares of Zillow Group stock opened at $37.44 on Thursday. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 170.19, a PEG ratio of 1.54 and a beta of 1.95. The firm’s 50 day simple moving average is $33.07 and its two-hundred day simple moving average is $39.60. Zillow Group, Inc. has a 12-month low of $29.03 and a 12-month high of $90.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The company had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.25 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. On average, sell-side analysts predict that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Zillow Group

Several institutional investors have recently bought and sold shares of ZG. Technology Crossover Management XI Ltd. acquired a new position in shares of Zillow Group during the second quarter valued at approximately $73,694,895,000. Norges Bank acquired a new stake in shares of Zillow Group in the fourth quarter worth approximately $152,050,000. M&T Bank Corp boosted its stake in shares of Zillow Group by 38,344.0% in the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after acquiring an additional 1,600,097 shares during the last quarter. Kahn Brothers Group Inc. purchased a new stake in shares of Zillow Group during the second quarter worth approximately $37,265,000. Finally, UBS Group AG increased its position in shares of Zillow Group by 44.5% during the fourth quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock worth $69,489,000 after purchasing an additional 313,643 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ZG has been the topic of several recent research reports. Benchmark dropped their price objective on shares of Zillow Group from $110.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. The Goldman Sachs Group reduced their target price on shares of Zillow Group from $53.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, June 12th. Wells Fargo & Company decreased their target price on shares of Zillow Group from $46.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, August 7th. Piper Sandler lowered their target price on Zillow Group from $55.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Zillow Group in a report on Thursday, June 11th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $52.29.

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.