Zillow Group (NASDAQ:ZG) Director Erik Blachford Sells 791 Shares

Zillow Group, Inc. (NASDAQ:ZG) Director Erik Blachford sold 791 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $34.80, for a total transaction of $27,526.80. Following the completion of the transaction, the director owned 34,952 shares of the company’s stock, valued at approximately $1,216,329.60. The trade was a 2.21% 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 Up 3.0%

Shares of Zillow Group stock traded up $1.06 during trading on Tuesday, reaching $35.83. The company’s stock had a trading volume of 1,688,673 shares, compared to its average volume of 1,122,078. The company has a 50-day moving average price of $40.49 and a two-hundred day moving average price of $52.65. The firm has a market cap of $8.20 billion, a PE ratio of 143.32, a P/E/G ratio of 1.51 and a beta of 1.95. Zillow Group, Inc. has a fifty-two week low of $34.50 and a fifty-two week high of $90.22.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.10. The company had revenue of $708.00 million for the quarter, compared to analysts’ expectations of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. Zillow Group’s revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. On average, analysts predict that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its stake in shares of Zillow Group by 40.5% in the first quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock worth $862,000 after purchasing an additional 3,717 shares during the last quarter. Millennium Management LLC increased its position in shares of Zillow Group by 110.8% during the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock worth $19,456,000 after buying an additional 152,955 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Zillow Group by 7.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock worth $5,878,000 after buying an additional 5,737 shares during the period. JPMorgan Chase & Co. increased its position in shares of Zillow Group by 5.8% during the second quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company’s stock worth $1,445,000 after buying an additional 1,150 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Zillow Group by 16.3% during the second quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company’s stock worth $543,000 after buying an additional 1,110 shares during the period. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ZG shares. Zacks Research cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. BTIG Research reissued a “neutral” rating on shares of Zillow Group in a report on Friday, May 22nd. KeyCorp lowered their target price on shares of Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Wells Fargo & Company cut their price target on Zillow Group from $60.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Finally, Robert W. Baird lowered their price objective on Zillow Group from $67.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Thirteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $71.24.

Zillow Group Company Profile

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.