Zillow Group (NASDAQ:ZG) Director Thielke Claire Cormier Sells 1,187 Shares

Key Points

• Director insider sale: Thielke Claire Cormier sold 1,187 Zillow Group shares for approximately $39,278 under a pre-arranged Rule 10b5-1 plan, reducing her holdings by 24.99% to 3,562 shares.
• Stock performance and earnings: ZG fell 2.2% to $33.49, well below its 200-day moving average of $40.93. Recent quarterly results beat expectations, with EPS of $0.52 and revenue of $772 million, up 17.9% year over year.
• Analyst sentiment is mixed: Recent downgrades and price-target cuts have contributed to an overall “Hold” rating, with 11 Buy, 13 Hold and 1 Sell recommendation and an average target price of $52.29.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) Director Thielke Claire Cormier sold 1,187 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $33.09, for a total transaction of $39,277.83. Following the completion of the sale, the director owned 3,562 shares in the company, valued at approximately $117,866.58. This trade represents a 24.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zillow Group Trading Down 2.2%

ZG traded down $0.77 during trading on Wednesday, reaching $33.49. 1,196,101 shares of the company were exchanged, compared to its average volume of 1,201,729. The firm has a 50 day moving average of $33.07 and a 200 day moving average of $40.93. The stock has a market cap of $7.66 billion, a P/E ratio of 152.23, a PEG ratio of 1.46 and a beta of 1.95. Zillow Group, Inc. has a 52 week low of $29.03 and a 52 week high of $90.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.08. The company had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.25 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The company's quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 EPS. As a group, analysts forecast that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ZG shares. Sanford C. Bernstein downgraded shares of Zillow Group from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $50.00 to $38.00 in a research note on Thursday, August 6th. Weiss Ratings cut Zillow Group from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, May 22nd. Zacks Research lowered Zillow Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. BTIG Research reaffirmed a "neutral" rating on shares of Zillow Group in a research note on Thursday, June 11th. Finally, UBS Group cut their price target on shares of Zillow Group from $75.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $52.29.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Technology Crossover Management XI Ltd. acquired a new position in Zillow Group in the second quarter valued at $73,694,895,000. Norges Bank acquired a new position in Zillow Group during the fourth quarter worth $152,050,000. Independent Franchise Partners LLP lifted its position in Zillow Group by 1.1% in the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company's stock valued at $138,135,000 after acquiring an additional 21,862 shares in the last quarter. M&T Bank Corp raised its position in Zillow Group by 38,344.0% in the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company's stock valued at $120,092,000 after buying an additional 1,600,097 shares during the last quarter. Finally, Tiger Global Management LLC lifted its position in shares of Zillow Group by 30.7% during the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company's stock worth $69,849,000 after buying an additional 240,690 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

About Zillow Group

Zillow Group NASDAQ: ZG is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow's core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.

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