Zillow Group (NASDAQ:ZG) Director Sells $39,277.83 in Stock

Zillow Group, Inc. (NASDAQ:ZG) Director Thielke Claire Cormier sold 1,187 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $33.09, for a total value of $39,277.83. Following the completion of the transaction, the director directly owned 3,562 shares of the company’s stock, valued at approximately $117,866.58. The trade was a 24.99% decrease in their position. The transaction was disclosed in a filing 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 Down 3.0%

Shares of NASDAQ ZG opened at $35.16 on Friday. Zillow Group, Inc. has a fifty-two week low of $29.03 and a fifty-two week high of $90.22. The firm’s 50-day simple moving average is $33.03 and its 200 day simple moving average is $40.43. The stock has a market cap of $8.04 billion, a P/E ratio of 159.83, a P/E/G ratio of 1.58 and a beta of 1.95.

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

Institutional Trading of Zillow Group

Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in shares of Zillow Group by 40.5% in the first quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock worth $862,000 after buying an additional 3,717 shares during the period. Millennium Management LLC raised its position in Zillow Group by 110.8% during the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after buying an additional 152,955 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Zillow Group by 7.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock valued at $5,878,000 after buying an additional 5,737 shares during the period. JPMorgan Chase & Co. lifted its stake in Zillow Group by 5.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company’s stock worth $1,445,000 after acquiring an additional 1,150 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in Zillow Group by 16.3% in the 2nd quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company’s stock worth $543,000 after acquiring an additional 1,110 shares in the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ZG. Sanford C. Bernstein cut shares of Zillow Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $50.00 to $38.00 in a report on Thursday, August 6th. Cantor Fitzgerald decreased their price target on Zillow Group from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Evercore set a $40.00 price target on Zillow Group and gave the company an “in-line” rating in a research report on Thursday, August 6th. Citizens Jmp lowered their price objective on shares of Zillow Group from $75.00 to $46.00 and set a “market outperform” rating on the stock in a research note on Friday, August 7th. Finally, DA Davidson decreased their target price on Zillow Group from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.29.

Zillow Group Company Profile

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.