Insider Selling: Zillow Group (NASDAQ:Z) Director Sells 791 Shares of Stock

Zillow Group, Inc. (NASDAQ:Z) Director Erik Blachford sold 791 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $34.80, for a total value of $27,526.80. Following the completion of the transaction, the director directly owned 34,952 shares in the company, valued at approximately $1,216,329.60. The trade was a 2.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zillow Group Stock Up 1.9%

Shares of Zillow Group stock traded up $0.66 during trading on Tuesday, reaching $35.45. The company’s stock had a trading volume of 4,460,499 shares, compared to its average volume of 4,231,632. Zillow Group, Inc. has a 12-month low of $34.16 and a 12-month high of $93.88. The company has a market capitalization of $8.11 billion, a P/E ratio of 141.80, a price-to-earnings-growth ratio of 1.50 and a beta of 1.97. The business has a 50 day moving average price of $40.28 and a 200-day moving average price of $53.05.

Zillow Group (NASDAQ:Z) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The company had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. Research analysts predict that Zillow Group, Inc. will post 0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Zelman & Associates upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Weiss Ratings downgraded Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 11th. JPMorgan Chase & Co. lowered their price target on Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

Hedge Funds Weigh In On Zillow Group

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Zillow Group by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider’s stock valued at $1,777,841,000 after purchasing an additional 71,336 shares during the period. Independent Franchise Partners LLP grew its position in Zillow Group by 0.9% during the 4th quarter. Independent Franchise Partners LLP now owns 10,953,405 shares of the financial services provider’s stock worth $747,241,000 after acquiring an additional 94,569 shares during the last quarter. Capital World Investors grew its position in Zillow Group by 1.8% during the 4th quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider’s stock worth $738,554,000 after acquiring an additional 191,058 shares during the last quarter. Tiger Global Management LLC grew its position 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. Finally, State Street Corp grew its position in Zillow Group by 3.9% during the 4th quarter. State Street Corp now owns 3,838,788 shares of the financial services provider’s stock worth $261,882,000 after acquiring an additional 143,726 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

About Zillow Group

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.