Zillow Group, Inc. (NASDAQ:ZG) CTO David A. Beitel Sells 3,642 Shares

Zillow Group, Inc. (NASDAQ:ZG) CTO David A. Beitel sold 3,642 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $68.65, for a total value of $250,023.30. Following the transaction, the chief technology officer now directly owns 170,737 shares in the company, valued at $11,721,095.05. This trade represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Zillow Group Trading Up 2.3%

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

Zillow Group (NASDAQ:ZG) last announced 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). The business had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $587.88 million. Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. On average, equities analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zillow Group

Hedge funds have recently bought and sold shares of the business. Pilgrim Partners Asia Pte Ltd purchased a new stake in Zillow Group in the 4th quarter worth about $27,000. Blue Trust Inc. raised its stake in shares of Zillow Group by 70.2% during the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after purchasing an additional 172 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Zillow Group by 79.4% during the 1st quarter. National Bank of Canada FI now owns 488 shares of the technology company’s stock worth $33,000 after purchasing an additional 216 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Zillow Group during the 1st quarter worth about $42,000. Finally, CX Institutional purchased a new stake in shares of Zillow Group during the 1st quarter worth about $46,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZG has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their target price on Zillow Group from $77.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. UBS Group dropped their price target on Zillow Group from $98.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Canaccord Genuity Group dropped their price target on Zillow Group from $86.00 to $76.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. DA Davidson lowered their price objective on Zillow Group from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Finally, Wedbush restated an “outperform” rating and set a $90.00 price objective (down from $100.00) on shares of Zillow Group in a research note on Thursday, May 8th. One equities 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.80.

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.