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

Zillow Group, Inc. (NASDAQ:ZG) Director Erik Blachford sold 791 shares of the company’s stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zillow Group Stock Down 4.8%

Shares of ZG opened at $34.10 on Thursday. The business has a 50-day simple moving average of $40.26 and a two-hundred day simple moving average of $52.21. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 136.40, a PEG ratio of 1.53 and a beta of 1.94. Zillow Group, Inc. has a 52 week low of $34.06 and a 52 week high of $90.22.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The firm had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $705.17 million. During the same quarter last year, the business posted $0.41 earnings per share. The firm’s revenue was up 18.4% on a year-over-year basis. On average, equities analysts anticipate that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zillow Group

Several institutional investors have recently modified their holdings of ZG. Smartleaf Asset Management LLC lifted its stake in shares of Zillow Group by 78.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after acquiring an additional 187 shares during the last quarter. Arax Advisory Partners lifted its stake in shares of Zillow Group by 402.3% during the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after acquiring an additional 354 shares during the last quarter. First Command Advisory Services Inc. bought a new stake in shares of Zillow Group during the 4th quarter worth approximately $34,000. Kestra Advisory Services LLC bought a new stake in shares of Zillow Group during the 4th quarter worth approximately $47,000. Finally, Quarry LP bought a new stake in shares of Zillow Group during the 4th quarter worth approximately $56,000. 20.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ZG. Cantor Fitzgerald decreased their price target on shares of Zillow Group from $56.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. Barclays reduced their target price on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Wells Fargo & Company lowered their price target on shares of Zillow Group from $60.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada lowered their price target on shares of Zillow Group to $70.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, UBS Group lowered their price target on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Thirteen equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Zillow Group has an average rating of “Hold” and a consensus target price of $70.05.

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.