Erik Blachford Sells 965 Shares of Zillow Group (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) Director Erik Blachford sold 965 shares of Zillow Group stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $72.51, for a total value of $69,972.15. Following the sale, the director directly owned 33,543 shares of the company’s stock, valued at approximately $2,432,202.93. This trade represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Zillow Group Trading Down 0.7%

Shares of ZG traded down $0.50 during midday trading on Thursday, reaching $73.37. 339,747 shares of the stock were exchanged, compared to its average volume of 589,697. The company has a market capitalization of $17.76 billion, a P/E ratio of -524.03, a PEG ratio of 28.15 and a beta of 2.06. Zillow Group, Inc. has a 52 week low of $56.63 and a 52 week high of $90.22. The company’s 50 day moving average is $71.03 and its two-hundred day moving average is $73.61.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02). Zillow Group had a negative net margin of 1.29% and a negative return on equity of 0.56%. The firm had revenue of $676.00 million during the quarter, compared to the consensus estimate of $670.28 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The business’s revenue was up 16.4% compared to the same quarter last year. On average, sell-side analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZG. Norges Bank acquired a new stake in Zillow Group in the second quarter worth about $159,770,000. ABC Arbitrage SA raised its position in shares of Zillow Group by 390.1% in the 2nd quarter. ABC Arbitrage SA now owns 31,227 shares of the technology company’s stock valued at $2,139,000 after purchasing an additional 24,856 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Zillow Group in the 1st quarter valued at approximately $370,000. TD Asset Management Inc purchased a new position in shares of Zillow Group in the second quarter worth $262,000. Finally, Vise Technologies Inc. acquired a new stake in shares of Zillow Group during the second quarter worth $602,000. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ZG. Cantor Fitzgerald reiterated a “neutral” rating and set a $74.00 price objective on shares of Zillow Group in a research note on Friday, October 31st. JPMorgan Chase & Co. upped their target price on Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Barclays reiterated an “underweight” rating and issued a $66.00 price target (up from $60.00) on shares of Zillow Group in a report on Thursday, August 7th. UBS Group reduced their price target on Zillow Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $78.00 price objective on shares of Zillow Group in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $87.09.

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.