Insider Selling: Zillow Group (NASDAQ:ZG) CTO Sells 1,798 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) CTO David Beitel sold 1,798 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $61,563.52. Following the completion of the sale, the chief technology officer owned 133,013 shares in the company, valued at approximately $4,554,365.12. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Price Performance

Shares of NASDAQ ZG traded down $0.84 during midday trading on Monday, reaching $34.32. 1,454,360 shares of the stock were exchanged, compared to its average volume of 1,202,979. The business has a 50-day simple moving average of $33.03 and a two-hundred day simple moving average of $40.23. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 156.01, a P/E/G ratio of 1.53 and a beta of 1.95. Zillow Group, Inc. has a 12 month low of $29.03 and a 12 month high of $90.22.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The company had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.25 million. During the same quarter in the previous year, the business earned $0.40 EPS. The firm’s revenue was up 17.9% on a year-over-year basis. Equities research analysts expect that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ZG has been the subject of several recent analyst reports. Cantor Fitzgerald lowered their price target on Zillow Group from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. BTIG Research reiterated a “neutral” rating on shares of Zillow Group in a research report on Thursday, June 11th. Royal Bank Of Canada lowered their target price on Zillow Group from $70.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. JPMorgan Chase & Co. dropped their target price on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Finally, Citizens Jmp cut their price target 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. Eleven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $52.29.

Institutional Trading of Zillow Group

A number of institutional investors have recently modified their holdings of the company. Arax Advisory Partners boosted its position in shares of 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 during the period. First Command Advisory Services Inc. bought a new stake in Zillow Group in the 4th quarter valued at approximately $34,000. Kestra Advisory Services LLC bought a new stake in Zillow Group in the 4th quarter valued at approximately $47,000. Quarry LP acquired a new position in Zillow Group during the 4th quarter worth approximately $56,000. Finally, Global Retirement Partners LLC boosted its position in Zillow Group by 4,130.0% during the 4th quarter. Global Retirement Partners LLC now owns 846 shares of the technology company’s stock worth $58,000 after acquiring an additional 826 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors.

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.