Zillow Group (NASDAQ:ZG) COO Sells $2,328,859.50 in Stock

Key Points

• COO Jun Choo of Zillow Group sold 25,575 shares on September 8th for a total of $2,328,859.50, reducing their ownership by 18.31%.
• Zillow Group reported a negative earnings per share of $0.40 for the last quarter, missing the consensus estimate by $0.04, but showed a year-over-year revenue growth of 14.5%.
• Brokerage analysts have mixed ratings for Zillow Group, with a current average target price of $85.62, including thirteen Buy ratings and one Sell rating.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) COO Jun Choo sold 25,575 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $91.06, for a total value of $2,328,859.50. Following the transaction, the chief operating officer owned 114,129 shares of the company's stock, valued at approximately $10,392,586.74. The trade was a 18.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Jun Choo also recently made the following trade(s):

• On Wednesday, August 13th, Jun Choo sold 2,969 shares of Zillow Group stock. The stock was sold at an average price of $81.46, for a total value of $241,854.74.
• On Thursday, August 7th, Jun Choo sold 45,710 shares of Zillow Group stock. The shares were sold at an average price of $85.21, for a total value of $3,894,949.10.

Zillow Group Price Performance

ZG stock traded down $0.64 during mid-day trading on Monday, reaching $83.70. The company had a trading volume of 452,855 shares, compared to its average volume of 508,858. The stock has a 50 day simple moving average of $79.24 and a two-hundred day simple moving average of $71.37. The company has a market capitalization of $20.28 billion, a price-to-earnings ratio of -321.92, a PEG ratio of 23.49 and a beta of 2.02. Zillow Group, Inc. has a 52 week low of $55.08 and a 52 week high of $88.45.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly 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 firm's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 earnings per share. On average, equities analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on ZG. Zelman & Associates upgraded Zillow Group to a "hold" rating in a research note on Friday, August 8th. Canaccord Genuity Group raised their price target on Zillow Group from $76.00 to $84.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Piper Sandler raised their price target on Zillow Group from $82.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Barclays reiterated an "underweight" rating and set a $66.00 target price (up from $60.00) on shares of Zillow Group in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada lifted their target price on Zillow Group from $88.00 to $95.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Zillow Group presently has an average rating of "Hold" and a consensus target price of $85.52.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Zillow Group during the 2nd quarter worth approximately $159,770,000. Sone Capital Management LLC acquired a new stake in Zillow Group during the 4th quarter worth approximately $11,185,000. Millennium Management LLC lifted its holdings in Zillow Group by 110.8% during 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 last quarter. Driehaus Capital Management LLC acquired a new stake in Zillow Group during the 1st quarter worth approximately $9,998,000. Finally, Nuveen LLC acquired a new stake in Zillow Group during the 1st quarter worth approximately $8,950,000. 20.32% of the stock is currently owned by institutional investors.

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.