Zillow Group (NASDAQ:Z) Director Sells $28,282.32 in Stock

Zillow Group, Inc. (NASDAQ:Z) Director Erik Blachford sold 792 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $35.71, for a total transaction of $28,282.32. Following the completion of the sale, the director owned 34,160 shares of the company’s stock, valued at $1,219,853.60. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zillow Group Stock Down 2.1%

Z traded down $0.75 during midday trading on Friday, hitting $34.59. The company had a trading volume of 3,514,429 shares, compared to its average volume of 4,139,800. Zillow Group, Inc. has a 52 week low of $29.23 and a 52 week high of $93.88. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 157.23, a PEG ratio of 1.51 and a beta of 2.00. The stock’s 50 day moving average price is $33.76 and its 200 day moving average price is $38.10.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The company had revenue of $772.00 million for the quarter, compared to analysts’ expectations of $758.10 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. Research analysts predict that Zillow Group, Inc. will post 0.89 EPS for the current year.

Analyst Ratings Changes

Z has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their price objective on Zillow Group from $37.00 to $34.00 and set a “market perform” rating for the company in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Zillow Group in a research report on Wednesday, August 19th. Royal Bank Of Canada cut their target price on Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, June 10th. Sanford C. Bernstein lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Finally, Zacks Research downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.75.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System grew its stake in shares of Zillow Group by 1,877.4% in the 2nd quarter. California State Teachers Retirement System now owns 5,533,431 shares of the financial services provider’s stock worth $175,553,000 after acquiring an additional 5,253,603 shares in the last quarter. Scge Management L.P. purchased a new position in Zillow Group during the third quarter worth about $133,990,000. L1 Capital Pty Ltd grew its position in Zillow Group by 24,803.7% in the 4th quarter. L1 Capital Pty Ltd now owns 1,729,313 shares of the financial services provider’s stock worth $117,974,000 after purchasing an additional 1,722,369 shares in the last quarter. Tiger Global Management LLC grew its position in Zillow Group by 21.7% in the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock worth $304,927,000 after purchasing an additional 1,312,000 shares in the last quarter. Finally, Soma Equity Partners LP increased its stake in Zillow Group by 389.5% in the 3rd quarter. Soma Equity Partners LP now owns 1,468,492 shares of the financial services provider’s stock valued at $113,147,000 after buying an additional 1,168,492 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.