Insider Selling: Zillow Group, Inc. (NASDAQ:ZG) CTO Sells 3,179 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) CTO David A. Beitel sold 3,179 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $73.97, for a total value of $235,150.63. Following the completion of the sale, the chief technology officer now directly owns 165,015 shares of the company’s stock, valued at $12,206,159.55. This trade represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Zillow Group Price Performance

ZG stock traded down $1.27 on Friday, reaching $70.73. 594,758 shares of the company’s stock were exchanged, compared to its average volume of 626,221. The stock has a fifty day moving average of $61.20 and a 200-day moving average of $51.33. Zillow Group, Inc. has a twelve month low of $36.38 and a twelve month high of $73.89. The firm has a market cap of $16.37 billion, a PE ratio of -124.09 and a beta of 2.02. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $581.00 million for the quarter, compared to the consensus estimate of $555.45 million. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. Zillow Group’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) earnings per share. As a group, equities analysts predict that Zillow Group, Inc. will post -0.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ZG shares. Benchmark raised their target price on Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. UBS Group raised their price objective on Zillow Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $47.00 price objective on shares of Zillow Group in a research report on Monday, October 7th. Piper Sandler reissued an “overweight” rating and set a $73.00 price objective (up from $62.00) on shares of Zillow Group in a research report on Thursday, November 7th. Finally, Citigroup raised their price objective on Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.17.

Institutional Trading of Zillow Group

A number of institutional investors have recently bought and sold shares of the company. Edgestream Partners L.P. lifted its position in shares of Zillow Group by 140.6% in the first quarter. Edgestream Partners L.P. now owns 20,735 shares of the technology company’s stock valued at $992,000 after acquiring an additional 12,116 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Zillow Group in the first quarter valued at about $1,597,000. Russell Investments Group Ltd. grew its stake in shares of Zillow Group by 148.6% in the first quarter. Russell Investments Group Ltd. now owns 31,934 shares of the technology company’s stock valued at $1,528,000 after buying an additional 19,087 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Zillow Group by 24.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 49,569 shares of the technology company’s stock valued at $2,233,000 after purchasing an additional 9,828 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Zillow Group by 169.9% in the first quarter. California State Teachers Retirement System now owns 24,773 shares of the technology company’s stock valued at $1,186,000 after purchasing an additional 15,594 shares during the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

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.