Zillow Group, Inc. (NASDAQ:ZG) CAO Sells $253,402.80 in Stock

Key Points

• Jennifer Rock, the Chief Accounting Officer of Zillow Group, sold 3,110 shares of stock for $253,402.80 on August 13, which represents a 6.18% decrease in her ownership of the company.
• Zillow Group reported an earnings per share (EPS) of $0.40 for the last quarter, missing estimates by $0.04, but its revenue rose by 14.5% year-over-year to $655 million.
• Recent trading activity saw Zillow Group's stock price decline by 0.2% to $81.36, while the average analyst consensus rate the stock as a "Hold" with a price target of $85.62.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) CAO Jennifer Rock sold 3,110 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $81.48, for a total value of $253,402.80. Following the transaction, the chief accounting officer owned 47,191 shares in the company, valued at approximately $3,845,122.68. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Jennifer Rock also recently made the following trade(s):

• On Thursday, August 7th, Jennifer Rock sold 5,177 shares of Zillow Group stock. The stock was sold at an average price of $82.69, for a total value of $428,086.13.

Zillow Group Trading Down 0.2%

NASDAQ:ZG traded down $0.17 during trading hours on Friday, hitting $81.36. The company's stock had a trading volume of 395,396 shares, compared to its average volume of 560,621. The stock has a market capitalization of $19.64 billion, a P/E ratio of -312.92, a price-to-earnings-growth ratio of 13.20 and a beta of 2.07. The stock has a fifty day moving average of $73.31 and a 200-day moving average of $70.89. Zillow Group, Inc. has a 52-week low of $50.65 and a 52-week high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). The business had revenue of $655.00 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. On average, sell-side analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ZG. National Bank of Canada FI lifted its holdings in shares of Zillow Group by 79.4% in the 1st quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock valued at $33,000 after purchasing an additional 216 shares during the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Zillow Group in the 1st quarter valued at about $42,000. CX Institutional purchased a new stake in shares of Zillow Group in the 1st quarter valued at about $46,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Zillow Group in the 4th quarter valued at about $70,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Zillow Group by 33.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock valued at $75,000 after purchasing an additional 280 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ZG. JPMorgan Chase & Co. boosted their target price on Zillow Group from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Canaccord Genuity Group set a $84.00 target price on Zillow Group and gave the stock a "hold" rating in a report on Thursday, August 7th. Wedbush reiterated an "outperform" rating and issued a $90.00 price objective (down from $100.00) on shares of Zillow Group in a report on Thursday, May 8th. Royal Bank Of Canada upped their price objective on Zillow Group from $88.00 to $95.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, William Blair began coverage on Zillow Group in a report on Monday, April 21st. They issued a "market perform" rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Zillow Group has a consensus rating of "Hold" and a consensus price target of $85.62.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.