Insider Selling: Zillow Group, Inc. (NASDAQ:ZG) CTO Sells 56,750 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) CTO David A. Beitel sold 56,750 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $72.39, for a total value of $4,108,132.50. Following the completion of the sale, the chief technology officer now directly owns 92 shares of the company’s stock, valued at approximately $6,659.88. The trade was a 99.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Zillow Group Price Performance

Shares of Zillow Group stock opened at $70.73 on Friday. The firm has a fifty day moving average price of $61.58 and a two-hundred day moving average price of $51.59. Zillow Group, Inc. has a fifty-two week low of $36.38 and a fifty-two week high of $73.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.13 and a quick ratio of 3.13. The company has a market cap of $16.37 billion, a PE ratio of -124.09 and a beta of 2.02.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $581.00 million for the quarter, compared to analyst estimates of $555.45 million. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) earnings per share. Analysts expect that Zillow Group, Inc. will post -0.33 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on ZG shares. UBS Group lifted their target price on shares of Zillow Group from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada lifted their price objective on shares of Zillow Group from $66.00 to $74.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Susquehanna increased their target price on shares of Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Piper Sandler restated an “overweight” rating and set a $73.00 target price (up from $62.00) on shares of Zillow Group in a report on Thursday, November 7th. Finally, Canaccord Genuity Group upped their price target on Zillow Group from $56.00 to $64.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and an average target price of $67.17.

Institutional Trading of Zillow Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Zillow Group by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock valued at $63,523,000 after acquiring an additional 32,766 shares in the last quarter. M&T Bank Corp acquired a new stake in Zillow Group during the third quarter valued at approximately $258,000. State Street Corp boosted its holdings in Zillow Group by 0.4% during the third quarter. State Street Corp now owns 805,279 shares of the technology company’s stock valued at $49,871,000 after purchasing an additional 2,832 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Zillow Group in the 3rd quarter valued at approximately $418,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Zillow Group in the 3rd quarter worth approximately $325,000. 20.32% of the stock is currently owned by institutional investors.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.