Insider Selling: Zillow Group (NASDAQ:ZG) Director Sells $27,526.80 in Stock

Zillow Group, Inc. (NASDAQ:ZG) Director Erik Blachford sold 791 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $34.80, for a total transaction of $27,526.80. Following the completion of the transaction, the director directly owned 34,952 shares in the company, valued at $1,216,329.60. The trade was a 2.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zillow Group Price Performance

Shares of ZG opened at $33.05 on Friday. The firm has a market capitalization of $7.56 billion, a PE ratio of 132.20, a PEG ratio of 1.46 and a beta of 1.94. The company’s 50-day moving average is $40.10 and its 200-day moving average is $51.95. Zillow Group, Inc. has a fifty-two week low of $31.83 and a fifty-two week high of $90.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.10. The company had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The company’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. Analysts predict that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ZG. Mizuho lowered their price target on shares of Zillow Group from $65.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. UBS Group lowered their price target on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Zacks Research lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. DA Davidson set a $75.00 price target on shares of Zillow Group in a research report on Thursday, February 12th. Finally, KeyCorp lowered their price target on shares of Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Thirteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $70.05.

Key Headlines Impacting Zillow Group

Here are the key news stories impacting Zillow Group this week:

• Negative Sentiment: Several firms are urging Zillow shareholders to join a securities class action tied to alleged anticompetitive conduct and related regulatory risks, increasing legal overhang for the stock. Article Title
• Negative Sentiment: Rosen Law Firm says it has filed a class action on behalf of Zillow investors, reinforcing the perception of ongoing litigation risk. Article Title
• Negative Sentiment: Faruqi & Faruqi also reminded investors about the pending securities class action deadline, adding to the day’s negative legal news flow for ZG. Article Title

Institutional Investors Weigh In On Zillow Group

Large investors have recently bought and sold shares of the company. Arax Advisory Partners grew its stake in Zillow Group by 402.3% during the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after buying an additional 354 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Zillow Group by 78.9% during the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after buying an additional 187 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in Zillow Group during the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC grew its stake in Zillow Group by 183.6% during the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after buying an additional 637 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in Zillow Group by 990.3% during the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock worth $42,000 after buying an additional 921 shares in the last quarter. 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.