David Beitel Sells 22,510 Shares of Zillow Group (NASDAQ:ZG) Stock

Key Points

• David Beitel, the CTO of Zillow Group, sold 22,510 shares of the company at an average price of $90.97, totaling approximately $2.05 million, which reduced his ownership by 13.47%.
• Zillow's stock recently traded at $82.51, experiencing a decline, and the company has a market cap of $19.99 billion with a P/E ratio of -317.35.
• Analysts have mixed views on Zillow, with 13 recommending a "buy" rating, while the company recently reported earnings of $0.40 per share, below analyst expectations of $0.44.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) CTO David Beitel sold 22,510 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $90.97, for a total transaction of $2,047,734.70. Following the transaction, the chief technology officer directly owned 144,549 shares in the company, valued at approximately $13,149,622.53. This represents a 13.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Zillow Group Price Performance

NASDAQ ZG traded down $1.34 during trading on Wednesday, hitting $82.51. 530,713 shares of the company's stock traded hands, compared to its average volume of 505,149. The stock has a fifty day moving average of $78.39 and a two-hundred day moving average of $71.20. Zillow Group, Inc. has a 12-month low of $52.17 and a 12-month high of $88.45. The firm has a market cap of $19.99 billion, a P/E ratio of -317.35, a PEG ratio of 8.79 and a beta of 2.02.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). The company had revenue of $655.00 million during the quarter, compared to the consensus estimate of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The company's revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. As a group, analysts expect that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

ZG has been the topic of several recent analyst reports. DA Davidson raised their target price on shares of Zillow Group from $85.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Susquehanna reissued a "neutral" rating on shares of Zillow Group in a report on Friday, August 8th. Zelman & Associates raised shares of Zillow Group to a "hold" rating in a research note on Friday, August 8th. Piper Sandler raised their target price on Zillow Group from $82.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Wells Fargo & Company upped their price target on Zillow Group from $60.00 to $75.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Thirteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $85.62.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently made changes to their positions in ZG. National Bank of Canada FI boosted its position in shares of Zillow Group by 79.4% in 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 position in Zillow Group during the first quarter valued at $42,000. CX Institutional bought a new stake in Zillow Group in the first quarter worth $46,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Zillow Group in the fourth quarter worth $70,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Zillow Group by 33.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock valued at $75,000 after acquiring an additional 280 shares in the last quarter. Institutional investors own 20.32% of the company's stock.

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.

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