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

Key Points

• Director Erik Blachford sold 792 Zillow Group shares for approximately $28,282 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 2.27% to 34,160 shares.
• Zillow shares fell 2.0% to $35.32, with the company valued at roughly $7.94 billion. The stock has traded between $29.03 and $90.22 over the past year.
• Zillow’s latest quarterly results exceeded expectations, with adjusted EPS of $0.52 versus the $0.44 consensus and revenue of $772 million, up 17.9% year over year. Analysts remain mixed, with a consensus rating of “Hold” and a $53.14 target price.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) Director Erik Blachford sold 792 shares of the business's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total value of $28,282.32. Following the completion of the sale, the director owned 34,160 shares in the company, valued at $1,219,853.60. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zillow Group Stock Down 2.0%

NASDAQ ZG traded down $0.72 during trading on Friday, hitting $35.32. 549,163 shares of the stock traded hands, compared to its average volume of 1,171,442. Zillow Group, Inc. has a 12-month low of $29.03 and a 12-month high of $90.22. The firm has a 50-day simple moving average of $34.07 and a 200-day simple moving average of $38.27. The company has a market capitalization of $7.94 billion, a P/E ratio of 160.55, a price-to-earnings-growth ratio of 1.54 and a beta of 1.97.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its earnings results on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The firm had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.25 million. During the same period in the prior year, the company earned $0.40 EPS. The company's quarterly revenue was up 17.9% compared to the same quarter last year. As a group, research analysts predict that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Zillow Group

Several hedge funds have recently added to or reduced their stakes in the company. Arax Advisory Partners lifted its stake in Zillow Group by 402.3% in the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company's stock worth $30,000 after purchasing an additional 354 shares during the last quarter. First Command Advisory Services Inc. bought a new position in shares of Zillow Group during the fourth quarter valued at approximately $34,000. Kestra Advisory Services LLC purchased a new stake in shares of Zillow Group in the fourth quarter worth approximately $47,000. Quarry LP purchased a new stake in shares of Zillow Group in the fourth quarter worth approximately $56,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Zillow Group by 4,130.0% during the 4th quarter. Global Retirement Partners LLC now owns 846 shares of the technology company's stock worth $58,000 after acquiring an additional 826 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ZG shares. Barclays reduced their target price on shares of Zillow Group from $58.00 to $54.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. Cantor Fitzgerald dropped their price target on Zillow Group from $34.00 to $32.00 and set a "neutral" rating for the company in a research report on Thursday, August 6th. Zacks Research cut Zillow Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Citizens Jmp decreased their price objective on Zillow Group from $75.00 to $46.00 and set a "market outperform" rating on the stock in a research report on Friday, August 7th. Finally, Sanford C. Bernstein cut Zillow Group from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $50.00 to $38.00 in a report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Zillow Group has an average rating of "Hold" and a consensus target price of $53.14.

About Zillow Group

Zillow Group NASDAQ: ZG is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow's core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.

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