Zillow Group, Inc. (NASDAQ:ZG) Director Sells $706,900.00 in Stock

Zillow Group, Inc. (NASDAQ:ZG) Director Gordon Sheridan Stephenson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $70.69, for a total transaction of $706,900.00. Following the completion of the sale, the director now owns 28,290 shares in the company, valued at $1,999,820.10. This represents a 26.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Zillow Group Stock Performance

Shares of NASDAQ:ZG opened at $68.76 on Friday. Zillow Group, Inc. has a 1 year low of $38.40 and a 1 year high of $86.58. The stock has a 50-day simple moving average of $66.00 and a 200-day simple moving average of $71.61. The stock has a market capitalization of $16.68 billion, a P/E ratio of -146.30, a PEG ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.06). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. The business had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $587.88 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Zillow Group’s quarterly revenue was up 13.0% compared to the same quarter last year. Analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ZG. Canaccord Genuity Group reduced their price target on shares of Zillow Group from $86.00 to $76.00 and set a “hold” rating on the stock in a report on Monday, May 5th. KeyCorp reduced their target price on Zillow Group from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Robert W. Baird assumed coverage on Zillow Group in a report on Friday, January 31st. They set a “neutral” rating and a $88.00 target price on the stock. Keefe, Bruyette & Woods raised Zillow Group to a “hold” rating in a research note on Friday, March 28th. Finally, Bank of America boosted their target price on shares of Zillow Group from $81.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.80.

Institutional Trading of Zillow Group

Several large investors have recently added to or reduced their stakes in ZG. Norges Bank purchased a new stake in shares of Zillow Group in the fourth quarter worth about $165,326,000. Arrowstreet Capital Limited Partnership boosted its holdings in Zillow Group by 1,261.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company’s stock worth $18,454,000 after acquiring an additional 241,331 shares during the period. Virtu Financial LLC grew its position in Zillow Group by 101.3% in the fourth quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock valued at $29,775,000 after acquiring an additional 211,482 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Zillow Group during the fourth quarter valued at approximately $14,916,000. Finally, Sone Capital Management LLC acquired a new position in shares of Zillow Group during the fourth quarter worth $11,185,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.