Richard N. Barton Sells 150,000 Shares of Zillow Group, Inc. (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 business's stock in a transaction that occurred 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 sale, the chairman directly owned 2,501,225 shares in the company, valued at approximately $214,304,958. The trade was a 5.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Zillow Group Trading Down 0.7%

Shares of ZG traded down $0.56 during mid-day trading on Monday, hitting $80.80. 433,163 shares of the company's stock were exchanged, compared to its average volume of 559,804. Zillow Group, Inc. has a fifty-two week low of $51.16 and a fifty-two week high of $86.58. The firm has a market capitalization of $19.58 billion, a P/E ratio of -310.77, a P/E/G ratio of 15.32 and a beta of 2.07. The business's 50 day moving average is $73.54 and its two-hundred day moving average is $70.75.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.04). Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%. The business had revenue of $655.00 million for the quarter, compared to analyst estimates of $647.06 million. During the same quarter last year, the company posted $0.39 EPS. Zillow Group's quarterly revenue was up 14.5% on a year-over-year basis. On average, equities research analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Analysts Set New Price Targets

ZG has been the topic of a number of research analyst reports. Wedbush reissued an "outperform" rating and issued a $90.00 target price (down previously from $100.00) on shares of Zillow Group in a research report on Thursday, May 8th. KeyCorp restated an "overweight" rating and issued a $92.00 price target (up previously from $90.00) on shares of Zillow Group in a research note on Thursday, August 7th. Susquehanna restated a "neutral" rating on shares of Zillow Group in a research note on Friday, August 8th. Royal Bank Of Canada boosted their target price on shares of Zillow Group from $88.00 to $95.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Zelman & Associates upgraded shares of Zillow Group to a "hold" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $85.62.

Institutional Investors Weigh In On Zillow Group

Several hedge funds have recently made changes to their positions in the business. National Bank of Canada FI raised its holdings in 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 in the last quarter. Salem Investment Counselors Inc. purchased a new position in Zillow Group during the first quarter worth about $42,000. CX Institutional purchased a new position in Zillow Group during the first quarter worth about $46,000. Wood Tarver Financial Group LLC purchased a new position in Zillow Group during the fourth quarter worth about $70,000. Finally, PNC Financial Services Group Inc. raised its holdings in Zillow Group by 33.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock worth $75,000 after purchasing an additional 280 shares in the last quarter. Institutional investors and hedge funds own 20.32% of the company's stock.

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.

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