Zillow Group (NASDAQ:Z) Director Erik Blachford Sells 792 Shares

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

Zillow Group Trading Down 2.1%

Zillow Group stock opened at $34.59 on Friday. The stock has a 50-day moving average price of $33.83 and a 200 day moving average price of $38.07. The stock has a market cap of $7.78 billion, a PE ratio of 157.23, a P/E/G ratio of 1.54 and a beta of 2.00. Zillow Group, Inc. has a 52 week low of $29.23 and a 52 week high of $93.88.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in Z. Empowered Funds LLC grew its stake in shares of Zillow Group by 4.7% in the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock valued at $262,000 after buying an additional 171 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Zillow Group by 21.7% in the 1st quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider’s stock worth $1,407,000 after acquiring an additional 3,653 shares during the period. American Century Companies Inc. boosted its holdings in Zillow Group by 1.6% in the 2nd quarter. American Century Companies Inc. now owns 23,064 shares of the financial services provider’s stock worth $1,616,000 after acquiring an additional 362 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Zillow Group by 186.3% in 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 acquiring an additional 1,092 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of 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 period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on Z. Royal Bank Of Canada cut their price objective on shares of Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, June 10th. Morgan Stanley set a $60.00 price target on shares of Zillow Group in a research note on Thursday, August 6th. Evercore cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Sanford C. Bernstein lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.75.

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.