Zillow Group, Inc. (NASDAQ:ZG) Director Gordon Sheridan Stephenson Sells 6,835 Shares

Key Points

• Gordon Sheridan Stephenson, a director at Zillow Group, sold 6,835 shares of the company's stock for approximately $561,016.80, reducing his ownership by 19.46%.
• Zillow reported $0.40 earnings per share for the last quarter, missing estimates, though revenue increased by 14.5% year-over-year to $655 million.
• Analysts have a consensus rating of "Moderate Buy" for Zillow, with an average target price of $85.62, up from multiple analyst upgrades recently.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) Director Gordon Sheridan Stephenson sold 6,835 shares of Zillow Group stock in a transaction on Friday, August 8th. The shares were sold at an average price of $82.08, for a total value of $561,016.80. Following the completion of the transaction, the director owned 28,290 shares of the company's stock, valued at approximately $2,322,043.20. The trade was a 19.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Zillow Group Stock Performance

NASDAQ:ZG traded up $0.91 on Tuesday, reaching $77.03. The company's stock had a trading volume of 504,438 shares, compared to its average volume of 560,848. Zillow Group, Inc. has a 1-year low of $49.40 and a 1-year high of $86.58. The firm has a market cap of $18.60 billion, a PE ratio of -296.27, a PEG ratio of 12.59 and a beta of 2.07. The business's 50-day moving average price is $72.63 and its two-hundred day moving average price is $70.75.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its 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). Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The business had revenue of $655.00 million during the quarter, compared to analyst estimates of $647.06 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm's revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. KeyCorp reiterated an "overweight" rating and issued a $92.00 price objective (up previously from $90.00) on shares of Zillow Group in a research report on Thursday, August 7th. Royal Bank Of Canada lifted their price objective on Zillow Group from $88.00 to $95.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Evercore ISI boosted their target price on Zillow Group from $90.00 to $95.00 and gave the stock an "outperform" rating in a research report on Friday. Wedbush restated an "outperform" rating and set a $90.00 target price (down previously from $100.00) on shares of Zillow Group in a research report on Thursday, May 8th. Finally, Canaccord Genuity Group boosted their target price on Zillow Group from $76.00 to $84.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $85.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prudential Financial Inc. grew its stake in Zillow Group by 16.3% in the second quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company's stock valued at $543,000 after acquiring an additional 1,110 shares during the period. Rhumbline Advisers grew its stake in Zillow Group by 25.3% in the second quarter. Rhumbline Advisers now owns 63,961 shares of the technology company's stock valued at $4,381,000 after acquiring an additional 12,931 shares during the period. Franklin Resources Inc. grew its stake in Zillow Group by 27.9% in the second quarter. Franklin Resources Inc. now owns 4,388 shares of the technology company's stock valued at $301,000 after acquiring an additional 956 shares during the period. JPMorgan Chase & Co. grew its stake in Zillow Group by 5.8% in the second quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company's stock valued at $1,445,000 after acquiring an additional 1,150 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in shares of Zillow Group by 24.6% during the second quarter. Handelsbanken Fonder AB now owns 15,700 shares of the technology company's stock worth $1,075,000 after buying an additional 3,100 shares during the period. 20.32% of the stock is owned by institutional investors and hedge funds.

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.

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