Zillow Group (NASDAQ:ZG) CTO Sells $299,683.44 in Stock

Key Points

• Zillow Group's CTO, David A. Beitel, sold 3,678 shares of the company at an average price of $81.48, totaling approximately $299,683.44, which decreases his ownership by 2.15% to a value of over $13 million.
• The company's stock traded down 0.2%, closing at $81.36, with notable fluctuations in share volume compared to its average.
• Zillow Group's recent earnings report showed a miss on EPS expectations, with a reported $0.40 EPS compared to an estimate of $0.44, despite revenue growth of 14.5% year-over-year.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) CTO David A. Beitel sold 3,678 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $81.48, for a total value of $299,683.44. Following the completion of the sale, the chief technology officer owned 167,059 shares of the company's stock, valued at $13,611,967.32. This trade represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Zillow Group Stock Performance

Shares of NASDAQ:ZG traded down $2.43 during midday trading on Wednesday, reaching $77.58. 336,424 shares of the company's stock traded hands, compared to its average volume of 542,306. Zillow Group, Inc. has a 1 year low of $51.16 and a 1 year high of $86.58. The company has a market cap of $18.80 billion, a P/E ratio of -298.38, a PEG ratio of 15.07 and a beta of 2.07. The company has a fifty day simple moving average of $74.12 and a two-hundred day simple moving average of $70.88.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZG. National Bank of Canada FI grew its position in shares of Zillow Group by 79.4% in the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock valued at $33,000 after purchasing an additional 216 shares in the last quarter. Salem Investment Counselors Inc. acquired a new position in Zillow Group during the first quarter worth $42,000. CX Institutional purchased a new stake in Zillow Group in the 1st quarter valued at $46,000. Wood Tarver Financial Group LLC purchased a new stake in Zillow Group in the 4th quarter valued at $70,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Zillow Group by 33.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock worth $75,000 after acquiring an additional 280 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZG has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Zillow Group from $60.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Susquehanna reiterated a "neutral" rating on shares of Zillow Group in a research note on Friday, August 8th. Zelman & Associates raised Zillow Group to a "hold" rating in a report on Friday, August 8th. JPMorgan Chase & Co. lifted their price target on Zillow Group from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Barclays reiterated an "underweight" rating and set a $66.00 price target (up from $60.00) on shares of Zillow Group in a research report on Thursday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $85.62.

About Zillow Group

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.