Insider Selling: Zillow Group (NASDAQ:ZG) COO Sells 2,969 Shares of Stock

Key Points

• Jun Choo, the COO of Zillow Group, sold 2,969 shares of the company at an average price of $81.46, resulting in a total transaction of approximately $241,855, thus decreasing his position by 2.54%.
• Zillow's recent earnings report revealed $0.40 earnings per share, which was below the estimate of $0.44, despite a year-over-year revenue increase of 14.5% to $655 million.
• Analysts' price targets for Zillow Group show mixed sentiments, with Piper Sandler raising their target to $94.00, while Goldman Sachs lowered theirs to $69.00, reflecting varying outlooks on the stock's future performance.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) COO Jun Choo sold 2,969 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $81.46, for a total value of $241,854.74. Following the completion of the sale, the chief operating officer directly owned 114,129 shares in the company, valued at $9,296,948.34. This trade represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, August 7th, Jun Choo sold 45,710 shares of Zillow Group stock. The stock was sold at an average price of $85.21, for a total transaction of $3,894,949.10.

Zillow Group Stock Performance

Shares of ZG traded down $2.43 during mid-day trading on Wednesday, reaching $77.58. The company had a trading volume of 336,424 shares, compared to its average volume of 542,306. The company has a market capitalization of $18.80 billion, a price-to-earnings ratio of -298.38, a P/E/G ratio of 15.07 and a beta of 2.07. The company's 50 day simple moving average is $74.12 and its 200 day simple moving average is $70.88. Zillow Group, Inc. has a 1-year low of $51.16 and a 1-year high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its 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 analyst estimates of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The business's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 EPS. As a group, equities analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Institutional Trading of Zillow Group

Institutional investors have recently added to or reduced their stakes in the stock. Winslow Asset Management Inc. increased its position in Zillow Group by 18.2% during the 2nd quarter. Winslow Asset Management Inc. now owns 7,475 shares of the technology company's stock valued at $512,000 after purchasing an additional 1,150 shares during the period. Evergreen Capital Management LLC acquired a new position in shares of Zillow Group in the 2nd quarter worth approximately $252,000. Headlands Technologies LLC bought a new stake in shares of Zillow Group in the 2nd quarter valued at $893,000. Corient Private Wealth LLC acquired a new stake in Zillow Group during the 2nd quarter worth about $263,000. Finally, Two Sigma Securities LLC bought a new position in shares of Zillow Group in the 2nd quarter worth about $451,000. 20.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ZG shares. DA Davidson upped their target price on Zillow Group from $85.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Wells Fargo & Company boosted their price target on Zillow Group from $60.00 to $75.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Benchmark dropped their price objective on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Zelman & Associates upgraded shares of Zillow Group to a "hold" rating in a research report on Friday, August 8th. Finally, Susquehanna restated a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Zillow Group currently has an average rating of "Hold" and a consensus target price 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.