Zillow Group, Inc. (NASDAQ:ZG) COO Jun Choo Sells 45,710 Shares

Key Points

• Zillow Group's COO, Jun Choo, sold 45,710 shares of company stock for approximately $3.89 million, resulting in a 28.08% decrease in his holdings.
• Despite reporting $0.40 earnings per share for the last quarter, Zillow missed analysts' expectations by $0.04, although revenue increased by 14.5% year-over-year.
• Research firms have raised Zillow's stock price targets, with Piper Sandler increasing theirs from $82 to $94, reflecting a positive outlook on the stock's performance.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) COO Jun Choo sold 45,710 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $85.21, for a total value of $3,894,949.10. Following the completion of the sale, the chief operating officer owned 117,098 shares of the company's stock, valued at $9,977,920.58. The trade was a 28.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Jun Choo also recently made the following trade(s):

• On Wednesday, May 14th, Jun Choo sold 3,088 shares of Zillow Group stock. The stock was sold at an average price of $68.65, for a total value of $211,991.20.

Zillow Group Stock Down 0.2%

NASDAQ ZG traded down $0.13 on Thursday, reaching $81.15. The company had a trading volume of 208,267 shares, compared to its average volume of 559,447. The firm's 50 day moving average price is $73.05 and its 200 day moving average price is $70.86. Zillow Group, Inc. has a 12 month low of $50.65 and a 12 month high of $86.58. The stock has a market capitalization of $19.59 billion, a PE ratio of -312.00, a price-to-earnings-growth ratio of 12.51 and a beta of 2.07.

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

Institutional Investors Weigh In On Zillow Group

Hedge funds have recently modified their holdings of the business. National Bank of Canada FI increased 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 acquiring an additional 216 shares during the period. Salem Investment Counselors Inc. purchased a new stake in shares of Zillow Group in the 1st quarter worth about $42,000. CX Institutional purchased a new position in shares of Zillow Group during the 1st quarter worth about $46,000. Wood Tarver Financial Group LLC acquired a new stake in Zillow Group during the 4th quarter worth approximately $70,000. Finally, PNC Financial Services Group Inc. grew its position in Zillow Group by 33.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock valued at $75,000 after acquiring an additional 280 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ZG. DA Davidson increased their price target on Zillow Group from $85.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. The Goldman Sachs Group cut their price objective on shares of Zillow Group from $77.00 to $69.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Susquehanna reissued a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. Royal Bank Of Canada boosted their price target on shares of Zillow Group from $88.00 to $95.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Zillow Group from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" 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.