Zillow Group, Inc. (NASDAQ:ZG) Director Thielke Claire Cormier Sells 8,247 Shares

Key Points

• Zillow Group, Inc. Director Thielke Claire Cormier sold 8,247 shares at an average price of $79.86, a transaction valued at $658,605.42, significantly reducing their ownership by 91.92%.
• The company's stock price rose 5.5%, trading at $81.27, and showed a one-year range between $50.18 and $86.58.
• Zillow recently reported a quarterly earnings miss with $0.40 earnings per share, falling short of analysts’ expectations of $0.44, although revenue was up 14.5% year-over-year.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) Director Thielke Claire Cormier sold 8,247 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $79.86, for a total value of $658,605.42. Following the completion of the transaction, the director directly owned 725 shares in the company, valued at $57,898.50. This trade represents a 91.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Thielke Claire Cormier also recently made the following trade(s):

• On Thursday, June 12th, Thielke Claire Cormier sold 241 shares of Zillow Group stock. The stock was sold at an average price of $70.45, for a total value of $16,978.45.

Zillow Group Stock Up 5.5%

ZG stock traded up $4.24 during trading on Wednesday, reaching $81.27. The company's stock had a trading volume of 717,241 shares, compared to its average volume of 566,427. Zillow Group, Inc. has a 1 year low of $50.18 and a 1 year high of $86.58. The company has a market capitalization of $19.62 billion, a P/E ratio of -312.58, a price-to-earnings-growth ratio of 12.51 and a beta of 2.07. The company's fifty day moving average is $73.05 and its 200-day moving average is $70.86.

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). Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%. The business had revenue of $655.00 million during the quarter, compared to analysts' expectations of $647.06 million. During the same quarter in the previous year, the company posted $0.39 EPS. The company's quarterly revenue was up 14.5% on a year-over-year basis. Analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. boosted its holdings in shares of Zillow Group by 3.2% during the 2nd quarter. Invesco Ltd. now owns 52,481 shares of the technology company's stock valued at $3,594,000 after purchasing an additional 1,631 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Zillow Group during the 2nd quarter valued at about $1,012,000. Lido Advisors LLC boosted its holdings in shares of Zillow Group by 1.2% during the 2nd quarter. Lido Advisors LLC now owns 25,714 shares of the technology company's stock valued at $1,761,000 after purchasing an additional 307 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Zillow Group by 10.8% during the 2nd quarter. New York State Common Retirement Fund now owns 30,758 shares of the technology company's stock valued at $2,107,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Zillow Group during the 2nd quarter valued at about $159,770,000. Institutional investors own 20.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ZG shares. Evercore ISI raised their price target on Zillow Group from $90.00 to $95.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Susquehanna reaffirmed a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. Wells Fargo & Company upped their price target on shares of Zillow Group from $60.00 to $75.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Barclays reaffirmed an "underweight" rating and set a $66.00 price target (up previously from $60.00) on shares of Zillow Group in a research report on Thursday, August 7th. Finally, Wedbush reaffirmed an "outperform" rating and set a $90.00 price target (down previously from $100.00) on shares of Zillow Group in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Zillow Group has an average rating of "Moderate Buy" and an average price target of $85.62.

About Zillow Group

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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