Richard N. Barton Sells 150,000 Shares of Zillow Group (NASDAQ:ZG) Stock

Key Points

• Richard N. Barton, Chairman of Zillow Group, sold 150,000 shares of the company's stock for a total of approximately $12.85 million, reducing his ownership stake by 5.66%.
• Zillow Group's shares currently trade at around $80.80, experiencing a slight decline of 0.7%, with a market capitalization of $19.58 billion.
• Recent earnings reports showed Zillow's quarterly revenue increased by 14.5% year-over-year, but earnings per share fell short of expected estimates.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) Chairman Richard N. Barton sold 150,000 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $85.68, for a total value of $12,852,000.00. Following the completion of the transaction, the chairman directly owned 2,501,225 shares of the company's stock, valued at approximately $214,304,958. This represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Zillow Group Stock Up 7.7%

Shares of ZG traded up $6.03 during midday trading on Friday, reaching $83.92. The company had a trading volume of 714,340 shares, compared to its average volume of 534,308. Zillow Group, Inc. has a 1-year low of $51.16 and a 1-year high of $86.58. The stock has a market cap of $20.33 billion, a PE ratio of -322.77, a price-to-earnings-growth ratio of 15.81 and a beta of 2.07. The firm has a 50 day simple moving average of $74.56 and a 200-day simple moving average of $70.80.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). The business had revenue of $655.00 million for the quarter, compared to analyst estimates of $647.06 million. Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%.The firm's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 earnings per share. As a group, sell-side analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on ZG. Susquehanna restated a "neutral" rating on shares of Zillow Group in a research note on Friday, August 8th. Piper Sandler upped their price objective on Zillow Group from $82.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Wells Fargo & Company upped their target price on Zillow Group from $60.00 to $75.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. KeyCorp restated an "overweight" rating and issued a $92.00 price objective (up from $90.00) on shares of Zillow Group in a research report on Thursday, August 7th. Finally, Benchmark reduced their price objective on Zillow Group from $110.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Thirteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $85.62.

Institutional Investors Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC boosted its position in Zillow Group by 3.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,550 shares of the technology company's stock valued at $312,000 after purchasing an additional 131 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Zillow Group by 2.8% in the first quarter. Voya Investment Management LLC now owns 5,778 shares of the technology company's stock valued at $386,000 after buying an additional 156 shares during the period. M&T Bank Corp lifted its holdings in shares of Zillow Group by 4.1% in the first quarter. M&T Bank Corp now owns 5,437 shares of the technology company's stock valued at $363,000 after buying an additional 215 shares during the period. National Bank of Canada FI raised its position in shares of Zillow Group by 79.4% during the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock worth $33,000 after purchasing an additional 216 shares during the period. Finally, Unified Investment Management increased its stake in Zillow Group by 1.7% in the 2nd quarter. Unified Investment Management now owns 14,144 shares of the technology company's stock worth $969,000 after purchasing an additional 235 shares in the last quarter. Institutional investors own 20.32% of the company's stock.

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.