Insider Selling: Zillow Group (NASDAQ:Z) Chairman Sells 150,000 Shares of Stock

Key Points

• Zillow Group, Inc. Chairman Richard N. Barton sold 150,000 shares at an average price of $85.68, totaling $12.85 million, resulting in a 5.66% decrease in his stock position.
• The stock recently traded at $84.50 with a market cap of $20.47 billion, and it has a 1-year price range from $52.86 to $89.39.
• Analysts have varied ratings on Zillow Group, with a consensus rating of "Hold" and an average price target of $88.29.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) Chairman Richard N. Barton sold 150,000 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $85.68, for a total transaction of $12,852,000.00. Following the completion of the sale, the chairman owned 2,501,225 shares in the company, valued at approximately $214,304,958. This trade represents a 5.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Zillow Group Stock Performance

Shares of Zillow Group stock traded up $0.4070 during trading on Thursday, reaching $81.5070. The company had a trading volume of 1,152,215 shares, compared to its average volume of 2,657,321. The company has a market cap of $19.75 billion, a price-to-earnings ratio of -313.83, a price-to-earnings-growth ratio of 15.73 and a beta of 2.09. The firm's fifty day moving average is $76.69 and its 200-day moving average is $72.81. Zillow Group, Inc. has a fifty-two week low of $52.86 and a fifty-two week high of $89.39.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on Z shares. Wedbush restated an "outperform" rating and issued a $100.00 target price on shares of Zillow Group in a research note on Monday, May 5th. Wells Fargo & Company upgraded shares of Zillow Group to a "hold" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. increased their price objective on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Keefe, Bruyette & Woods dropped their price objective on shares of Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th. Finally, Bank of America increased their price objective on shares of Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, Zillow Group has an average rating of "Hold" and a consensus price target of $88.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Zillow Group by 2.5% in the second quarter. Brighton Jones LLC now owns 5,747 shares of the financial services provider's stock valued at $403,000 after acquiring an additional 140 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Zillow Group by 25.1% during the second quarter. Farther Finance Advisors LLC now owns 792 shares of the financial services provider's stock worth $55,000 after buying an additional 159 shares in the last quarter. True Vision MN LLC boosted its holdings in Zillow Group by 2.1% during the second quarter. True Vision MN LLC now owns 7,760 shares of the financial services provider's stock worth $544,000 after buying an additional 161 shares in the last quarter. DoubleLine ETF Adviser LP boosted its holdings in Zillow Group by 1.5% during the fourth quarter. DoubleLine ETF Adviser LP now owns 10,868 shares of the financial services provider's stock worth $805,000 after buying an additional 163 shares in the last quarter. Finally, Flynn Zito Capital Management LLC boosted its holdings in Zillow Group by 4.5% during the first quarter. Flynn Zito Capital Management LLC now owns 3,856 shares of the financial services provider's stock worth $264,000 after buying an additional 166 shares in the last quarter. Institutional investors own 71.01% 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.