Zillow Group (NASDAQ:Z) Director Erik Blachford Sells 792 Shares

Key Points

• Zillow director Erik Blachford sold 792 shares for approximately $28,282 under a pre-arranged Rule 10b5-1 trading plan, reducing his direct stake by 2.27% to 34,160 shares.
• Zillow shares recently traded at $34.59, near the lower end of their 52-week range. The company exceeded quarterly expectations with $0.52 in EPS versus $0.45 expected and revenue of $772 million.
• Analyst sentiment remains a “Moderate Buy,” with a consensus price target of $66.75, although several firms recently lowered targets or downgraded the stock to “Hold.” Institutional investors own approximately 71% of the company.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) Director Erik Blachford sold 792 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $35.71, for a total transaction of $28,282.32. Following the transaction, the director directly owned 34,160 shares of the company's stock, valued at $1,219,853.60. The trade was a 2.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zillow Group Price Performance

Shares of Zillow Group stock traded down $0.75 during trading on Friday, hitting $34.59. The company's stock had a trading volume of 3,514,429 shares, compared to its average volume of 4,139,800. Zillow Group, Inc. has a 52 week low of $29.23 and a 52 week high of $93.88. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 157.23, a price-to-earnings-growth ratio of 1.51 and a beta of 2.00. The stock has a 50-day moving average price of $33.76 and a two-hundred day moving average price of $38.10.

Zillow Group (NASDAQ:Z - Get Free Report) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.07. The business had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. On average, equities analysts predict that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on Z shares. Jefferies Financial Group lowered their price objective on Zillow Group from $75.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, July 14th. Sanford C. Bernstein downgraded shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods lowered their price target on shares of Zillow Group from $37.00 to $34.00 and set a "market perform" rating for the company in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Zillow Group from $80.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Finally, Wall Street Zen cut shares of Zillow Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $66.75.

Institutional Investors Weigh In On Zillow Group

Several institutional investors and hedge funds have recently made changes to their positions in Z. Leonteq Securities AG grew its stake in Zillow Group by 627.0% during the first quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider's stock worth $56,000 after purchasing an additional 1,160 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Zillow Group by 283.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider's stock valued at $59,000 after buying an additional 1,045 shares during the period. IFC & Insurance Marketing Inc. bought a new position in shares of Zillow Group during the 4th quarter worth approximately $68,000. SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Zillow Group during the 4th quarter worth approximately $71,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of Zillow Group by 34.5% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider's stock worth $80,000 after buying an additional 300 shares in the last quarter. Institutional investors own 71.01% of the company's stock.

About Zillow Group

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company's platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company's automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.

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