Errol G. Samuelson Sells 7,218 Shares of Zillow Group (NASDAQ:Z) Stock

Key Points

• Zillow Group insider Errol G. Samuelson sold 7,218 shares for a total of $588,267, reducing his ownership by 5.32% to around 128,456 shares valued at approximately $10.47 million.
• The company's stock recently traded at $85.11, marking a 0.2% decline, with an average price target from analysts set at $88.29.
• Institutional investors hold approximately 71.01% of Zillow Group's stock, with significant stake increases from several hedge funds during the first quarter of the year.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) insider Errol G. Samuelson sold 7,218 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $81.50, for a total value of $588,267.00. Following the sale, the insider owned 128,456 shares of the company's stock, valued at approximately $10,469,164. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Zillow Group Stock Down 2.4%

Shares of Z traded down $2.01 during midday trading on Wednesday, reaching $81.49. 235,215 shares of the stock were exchanged, compared to its average volume of 2,655,202. Zillow Group, Inc. has a 12-month low of $52.86 and a 12-month high of $89.39. The firm has a 50 day simple moving average of $76.49 and a 200-day simple moving average of $72.75. The company has a market cap of $19.74 billion, a price-to-earnings ratio of -313.87, a P/E/G ratio of 15.91 and a beta of 2.09.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on Z shares. Keefe, Bruyette & Woods cut 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 report on Wednesday, May 7th. Wells Fargo & Company upgraded shares of Zillow Group to a "hold" rating in a report on Monday, April 28th. Bank of America raised their price target on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Wedbush restated an "outperform" rating and set a $100.00 target price on shares of Zillow Group in a report on Monday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $88.29.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. TB Alternative Assets Ltd. increased its stake in shares of Zillow Group by 49.0% in the first quarter. TB Alternative Assets Ltd. now owns 570,913 shares of the financial services provider's stock worth $39,142,000 after purchasing an additional 187,671 shares during the period. American Assets Investment Management LLC bought a new position in Zillow Group in the 1st quarter worth approximately $468,000. Alberta Investment Management Corp bought a new position in Zillow Group in the 1st quarter worth approximately $3,661,000. Cerity Partners LLC increased its position in Zillow Group by 67.0% in the 1st quarter. Cerity Partners LLC now owns 20,475 shares of the financial services provider's stock worth $1,404,000 after buying an additional 8,215 shares during the period. Finally, G&S Capital LLC increased its position in Zillow Group by 132.2% in the 1st quarter. G&S Capital LLC now owns 33,933 shares of the financial services provider's stock worth $2,326,000 after buying an additional 19,319 shares during the period. 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.