Zillow Group, Inc. (NASDAQ:ZG) CTO David A. Beitel Sells 56,750 Shares

Zillow Group, Inc. (NASDAQ:ZG) CTO David A. Beitel sold 56,750 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.39, for a total transaction of $4,108,132.50. Following the transaction, the chief technology officer now directly owns 92 shares of the company’s stock, valued at $6,659.88. This represents a 99.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Zillow Group Trading Down 1.8 %

Shares of Zillow Group stock traded down $1.27 during trading hours on Friday, reaching $70.73. 594,758 shares of the company’s stock were exchanged, compared to its average volume of 626,221. Zillow Group, Inc. has a 52-week low of $36.38 and a 52-week high of $73.89. The firm has a market capitalization of $16.37 billion, a price-to-earnings ratio of -124.09 and a beta of 2.02. The company has a fifty day moving average of $61.20 and a 200-day moving average of $51.33. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Edgestream Partners L.P. raised its position in shares of Zillow Group by 140.6% in the 1st quarter. Edgestream Partners L.P. now owns 20,735 shares of the technology company’s stock worth $992,000 after buying an additional 12,116 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Zillow Group in the 1st quarter valued at $1,597,000. Russell Investments Group Ltd. increased its holdings in Zillow Group by 148.6% in the 1st quarter. Russell Investments Group Ltd. now owns 31,934 shares of the technology company’s stock valued at $1,528,000 after purchasing an additional 19,087 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Zillow Group by 24.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 49,569 shares of the technology company’s stock valued at $2,233,000 after purchasing an additional 9,828 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in Zillow Group by 169.9% in the 1st quarter. California State Teachers Retirement System now owns 24,773 shares of the technology company’s stock valued at $1,186,000 after purchasing an additional 15,594 shares in the last quarter. 20.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ZG shares. Craig Hallum boosted their target price on Zillow Group from $55.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $47.00 target price on shares of Zillow Group in a research report on Monday, October 7th. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $50.00 to $80.00 in a research report on Monday, September 16th. The Goldman Sachs Group boosted their target price on Zillow Group from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Piper Sandler restated an “overweight” rating and issued a $73.00 price target (up previously from $62.00) on shares of Zillow Group in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and an average target price of $67.17.

Zillow Group Company Profile

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.