Insider Selling: Zillow Group, Inc. (NASDAQ:ZG) CTO Sells 3,678 Shares of 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 stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $81.48, for a total transaction of $299,683.44. Following the transaction, the chief technology officer directly owned 167,059 shares in the company, valued at $13,611,967.32. This trade represents a 2.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Zillow Group Stock Down 0.2%

ZG traded down $0.17 on Friday, hitting $81.36. The company's stock had a trading volume of 395,396 shares, compared to its average volume of 560,621. The company's 50 day simple moving average is $73.31 and its 200-day simple moving average is $70.89. The firm has a market cap of $19.64 billion, a P/E ratio of -312.92, a price-to-earnings-growth ratio of 13.20 and a beta of 2.07. Zillow Group, Inc. has a 12 month low of $50.65 and a 12 month high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced 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). Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The firm had revenue of $655.00 million during the quarter, compared to the consensus estimate of $647.06 million. During the same period in the previous year, the business earned $0.39 earnings per share. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on ZG shares. Benchmark dropped their price target on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Barclays reaffirmed an "underweight" rating and issued a $66.00 price target (up previously from $60.00) on shares of Zillow Group in a research report on Thursday, August 7th. Wedbush reaffirmed an "outperform" rating and issued a $90.00 price target (down previously from $100.00) on shares of Zillow Group in a research report on Thursday, May 8th. Evercore ISI raised their price target on shares of Zillow Group from $90.00 to $95.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, Susquehanna reaffirmed a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $85.62.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Zillow Group in the 2nd quarter worth $159,770,000. Raymond James Financial Inc. purchased a new position in Zillow Group in the 4th quarter worth $14,916,000. Sone Capital Management LLC purchased a new position in Zillow Group in the 4th quarter worth $11,185,000. Millennium Management LLC raised its position in Zillow Group by 110.8% in the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company's stock worth $19,456,000 after purchasing an additional 152,955 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in Zillow Group in the 1st quarter worth $9,998,000. 20.32% of the stock is owned by institutional investors.

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.

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