Richard N. Barton Sells 200,000 Shares of Zillow Group (NASDAQ:ZG) Stock

Key Points

• Zillow Group's Chairman Richard N. Barton sold 200,000 shares at an average price of $84.92, amounting to $16,984,000, reducing his ownership by 19.17%.
• Following the sale, Barton retains approximately 843,248 shares valued at around $71.6 million.
• The company's stock decreased by 0.7% on Monday to $80.80, despite a reported quarterly revenue increase of 14.5% compared to the previous year.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) Chairman Richard N. Barton sold 200,000 shares of Zillow Group stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $84.92, for a total transaction of $16,984,000.00. Following the transaction, the chairman directly owned 843,248 shares of the company's stock, valued at $71,608,620.16. This represents a 19.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Zillow Group Stock Up 7.7%

ZG traded up $6.03 during midday trading on Friday, hitting $83.92. The company had a trading volume of 714,340 shares, compared to its average volume of 534,308. The company has a market capitalization of $20.33 billion, a price-to-earnings ratio of -322.77, a PEG ratio of 15.81 and a beta of 2.07. The stock's 50 day moving average price is $74.56 and its 200 day moving average price is $70.80. Zillow Group, Inc. has a 52 week low of $51.16 and a 52 week high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly 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 firm had revenue of $655.00 million for the quarter, compared to analysts' expectations of $647.06 million. During the same quarter last year, the firm posted $0.39 earnings per share. The firm's revenue for the quarter was up 14.5% compared to the same quarter last year. Research analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Zillow Group from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. KeyCorp restated an "overweight" rating and issued a $92.00 price objective (up from $90.00) on shares of Zillow Group in a report on Thursday, August 7th. The Goldman Sachs Group decreased their price target on shares of Zillow Group from $77.00 to $69.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Wedbush restated an "outperform" rating and set a $90.00 price objective (down from $100.00) on shares of Zillow Group in a research note on Thursday, May 8th. Finally, Royal Bank Of Canada raised their price target on shares of Zillow Group from $88.00 to $95.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Thirteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $85.62.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its stake in Zillow Group by 13.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,137 shares of the technology company's stock worth $364,000 after acquiring an additional 600 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Zillow Group by 97.8% during the fourth quarter. Renaissance Technologies LLC now owns 62,100 shares of the technology company's stock valued at $4,400,000 after acquiring an additional 30,700 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Zillow Group during the fourth quarter valued at about $14,916,000. Sterling Capital Management LLC boosted its position in Zillow Group by 57.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,825 shares of the technology company's stock valued at $200,000 after buying an additional 1,032 shares during the last quarter. Finally, Mariner LLC boosted its position in Zillow Group by 18.9% in the fourth quarter. Mariner LLC now owns 8,157 shares of the technology company's stock valued at $578,000 after buying an additional 1,299 shares during the last quarter. 20.32% of the stock is owned by hedge funds and other institutional investors.

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.