Zillow Group (NASDAQ:ZG) Director Erik Blachford Sells 792 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) Director Erik Blachford sold 792 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total transaction of $28,282.32. Following the transaction, the director owned 34,160 shares of the company’s stock, valued at $1,219,853.60. The trade was a 2.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zillow Group Price Performance

Shares of NASDAQ:ZG opened at $35.32 on Friday. The company’s 50-day moving average price is $34.15 and its two-hundred day moving average price is $38.25. Zillow Group, Inc. has a one year low of $29.03 and a one year high of $90.22. The stock has a market capitalization of $7.94 billion, a PE ratio of 160.55, a price-to-earnings-growth ratio of 1.57 and a beta of 1.97.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating 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 business had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.25 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. Zillow Group’s quarterly revenue was up 17.9% on a year-over-year basis. On average, analysts anticipate that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ZG has been the subject of several recent analyst reports. Citizens Jmp cut their price objective on Zillow Group from $75.00 to $46.00 and set a “market outperform” rating for the company in a report on Friday, August 7th. The Goldman Sachs Group lowered their target price on shares of Zillow Group from $53.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, June 12th. Zacks Research cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Canaccord Genuity Group decreased their price objective on shares of Zillow Group from $52.00 to $40.00 and set a “hold” rating for the company in a research report on Thursday, August 6th. Finally, UBS Group dropped their target price on shares of Zillow Group from $75.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Eleven 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $53.14.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Arax Advisory Partners lifted its stake in shares of Zillow Group by 402.3% during 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 last quarter. First Command Advisory Services Inc. bought a new stake in shares of Zillow Group during the 4th quarter worth about $34,000. EverSource Wealth Advisors LLC grew its stake in Zillow Group by 183.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after buying an additional 637 shares during the last quarter. Fifth Third Bancorp raised its holdings in Zillow Group by 990.3% in the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock valued at $42,000 after acquiring an additional 921 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in Zillow Group in the 4th quarter valued at about $47,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

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.