Zillow Group (NASDAQ:ZG) Insider Sells $111,593.83 in Stock

Zillow Group, Inc. (NASDAQ:ZG) insider Errol Samuelson sold 2,939 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $37.97, for a total transaction of $111,593.83. Following the completion of the transaction, the insider directly owned 134,039 shares in the company, valued at $5,089,460.83. This represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Price Performance

Zillow Group stock traded up $0.20 during midday trading on Friday, reaching $38.06. The company had a trading volume of 1,220,694 shares, compared to its average volume of 1,106,949. The company has a market capitalization of $8.71 billion, a P/E ratio of 152.24, a P/E/G ratio of 1.82 and a beta of 2.04. Zillow Group, Inc. has a 12-month low of $37.26 and a 12-month high of $90.22. The firm’s fifty day simple moving average is $43.15 and its 200-day simple moving average is $56.67.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. Zillow Group’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the company posted $0.41 EPS. On average, analysts expect that Zillow Group, Inc. will post 0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ZG. Canaccord Genuity Group decreased their price target on shares of Zillow Group from $72.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, May 7th. UBS Group decreased their price target on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Cantor Fitzgerald decreased their target price 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. The Goldman Sachs Group set a $53.00 target price on shares of Zillow Group in a research note on Thursday, May 7th. Finally, Citigroup decreased their target price on shares of Zillow Group from $78.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.24.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ZG. Arax Advisory Partners lifted its stake in Zillow Group by 402.3% in the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after purchasing an additional 354 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Zillow Group by 78.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 187 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in Zillow Group in the 4th quarter worth approximately $34,000. Fifth Third Bancorp lifted its stake in Zillow Group by 990.3% in the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock worth $42,000 after purchasing an additional 921 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Zillow Group in the 4th quarter worth approximately $47,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

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.