Zillow Group, Inc. (NASDAQ:ZG) Director Sells $51,175.95 in Stock

Key Points

• Zillow Group director April Underwood sold 595 shares of the company's stock for a total of $51,175.95, reducing her holdings by 45.08%.
• The company reported $0.40 earnings per share for the latest quarter, missing estimates of $0.44, although revenue increased by 14.5% year-over-year.
• Several institutional investors, including the National Bank of Canada, significantly increased their stakes in Zillow Group, highlighting ongoing confidence in the company's prospects.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) Director April Underwood sold 595 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $86.01, for a total value of $51,175.95. Following the completion of the sale, the director directly owned 725 shares of the company's stock, valued at $62,357.25. The trade was a 45.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Zillow Group Price Performance

NASDAQ:ZG traded down $1.39 during mid-day trading on Monday, hitting $76.12. The company's stock had a trading volume of 469,588 shares, compared to its average volume of 561,220. The business's fifty day moving average is $72.45 and its two-hundred day moving average is $70.75. The stock has a market cap of $18.38 billion, a price-to-earnings ratio of -292.77, a PEG ratio of 12.59 and a beta of 2.07. Zillow Group, Inc. has a 1 year low of $48.70 and a 1 year high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced 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). 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 period last year, the company posted $0.39 earnings per share. The business's quarterly revenue was up 14.5% on a year-over-year basis. Analysts anticipate that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZG. National Bank of Canada FI increased its stake in shares of Zillow Group by 79.4% during the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock worth $33,000 after buying an additional 216 shares during the period. Salem Investment Counselors Inc. purchased a new stake in Zillow Group in the first quarter valued at approximately $42,000. CX Institutional purchased a new stake in Zillow Group in the 1st quarter valued at $46,000. Wood Tarver Financial Group LLC purchased a new stake in Zillow Group during the 4th quarter valued at approximately $70,000. Finally, PNC Financial Services Group Inc. increased its stake in 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 buying an additional 280 shares during the period. Institutional investors and hedge funds own 20.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ZG shares. 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. Evercore ISI increased their price target on shares of Zillow Group from $90.00 to $95.00 and gave the stock an "outperform" rating in a research note on Friday. Barclays reaffirmed an "underweight" rating and set a $66.00 price objective (up from $60.00) on shares of Zillow Group in a research report on Thursday. Susquehanna restated a "neutral" rating on shares of Zillow Group in a research report on Friday. Finally, William Blair started coverage on Zillow Group in a research note on Monday, April 21st. They issued a "market perform" rating on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Zillow Group presently has a consensus rating of "Moderate Buy" and an average 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.

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