Erik Blachford Sells 791 Shares of Zillow Group (NASDAQ:Z) Stock

Zillow Group, Inc. (NASDAQ:Z) Director Erik Blachford sold 791 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $34.80, for a total value of $27,526.80. Following the completion of the transaction, the director owned 34,952 shares in the company, valued at approximately $1,216,329.60. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zillow Group Stock Down 4.3%

Shares of Z opened at $33.93 on Thursday. Zillow Group, Inc. has a 12-month low of $33.91 and a 12-month high of $93.88. The business’s fifty day moving average is $40.04 and its 200 day moving average is $52.58. The stock has a market cap of $7.76 billion, a P/E ratio of 135.72, a P/E/G ratio of 1.52 and a beta of 1.97.

Zillow Group (NASDAQ:Z) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company had revenue of $708.00 million for the quarter, compared to analysts’ expectations of $705.10 million. On average, analysts expect that Zillow Group, Inc. will post 0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Z has been the subject of a number of analyst reports. Royal Bank Of Canada lowered their price target on Zillow Group from $95.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday. Zacks Research lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 4th. Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. UBS Group lowered their price target on Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. lowered their price target on Zillow Group from $84.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and a consensus price target of $76.00.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in Zillow Group by 4.7% during the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 171 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Zillow Group by 21.7% during the first quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider’s stock valued at $1,407,000 after purchasing an additional 3,653 shares during the last quarter. American Century Companies Inc. lifted its holdings in Zillow Group by 1.6% during the second quarter. American Century Companies Inc. now owns 23,064 shares of the financial services provider’s stock valued at $1,616,000 after purchasing an additional 362 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Zillow Group by 186.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,678 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 1,092 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Zillow Group by 1,895.4% during the second quarter. First Trust Advisors LP now owns 128,362 shares of the financial services provider’s stock valued at $8,992,000 after purchasing an additional 121,929 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

About Zillow Group

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.