Erik Blachford Sells 791 Shares of Zillow Group (NASDAQ:ZG) Stock

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

Zillow Group Price Performance

Shares of ZG stock traded up $1.06 on Tuesday, reaching $35.83. 1,688,673 shares of the company were exchanged, compared to its average volume of 1,122,078. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 143.32, a PEG ratio of 1.51 and a beta of 1.95. The company has a 50-day moving average of $40.49 and a 200-day moving average of $52.65. Zillow Group, Inc. has a one year low of $34.50 and a one year high of $90.22.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ZG. DA Davidson set a $75.00 price objective on shares of Zillow Group in a research report on Thursday, February 12th. Canaccord Genuity Group reduced their price objective on shares of Zillow Group from $72.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 price objective on shares of Zillow Group in a report on Thursday, May 21st. Barclays reduced their price objective on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Finally, Benchmark reiterated a “buy” rating on shares of Zillow Group in a report on Wednesday, February 11th. Thirteen equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $71.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arax Advisory Partners boosted its holdings 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 purchasing an additional 354 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings 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 purchasing an additional 187 shares during the last quarter. First Command Advisory Services Inc. purchased a new position in Zillow Group during the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC raised its position in Zillow Group by 183.6% in the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after acquiring an additional 637 shares during the period. Finally, Fifth Third Bancorp raised its position in Zillow Group by 990.3% in the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock worth $42,000 after acquiring an additional 921 shares during the period. 20.32% of the stock is currently owned by hedge funds and other 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.