Zillow Group (NASDAQ:ZG) Shares Down 6.8% on Insider Selling

Zillow Group, Inc. (NASDAQ:ZGGet Free Report)’s share price fell 6.8% during trading on Friday following insider selling activity. The company traded as low as $47.91 and last traded at $49.55. 668,395 shares traded hands during trading, an increase of 9% from the average session volume of 613,810 shares. The stock had previously closed at $53.14.

Specifically, General Counsel Bradley D. Owens sold 966 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total transaction of $56,037.66. Following the completion of the sale, the general counsel now owns 17,181 shares in the company, valued at approximately $996,669.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Dan Spaulding sold 5,114 shares of Zillow Group stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $55.45, for a total value of $283,571.30. Following the completion of the sale, the insider now owns 43,180 shares in the company, valued at approximately $2,394,331. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Bradley D. Owens sold 966 shares of Zillow Group stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total transaction of $56,037.66. Following the completion of the sale, the general counsel now owns 17,181 shares of the company’s stock, valued at approximately $996,669.81. The disclosure for this sale can be found here. Insiders have sold 167,070 shares of company stock valued at $9,433,246 in the last ninety days. 17.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America cut shares of Zillow Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Zillow Group in a research report on Tuesday, November 21st. They issued a “buy” rating and a $50.00 price target for the company. Piper Sandler raised their price target on shares of Zillow Group from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Barclays lifted their price objective on shares of Zillow Group from $32.00 to $40.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 21st. Finally, JMP Securities lifted their price objective on shares of Zillow Group from $60.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and an average target price of $58.71.

Get Our Latest Report on ZG

Zillow Group Trading Down 13.0 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 3.24 and a quick ratio of 3.24. The business’s 50 day moving average price is $53.58 and its 200-day moving average price is $47.87. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of -67.97 and a beta of 1.85.

Zillow Group (NASDAQ:ZGGet Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.06. Zillow Group had a negative net margin of 8.12% and a negative return on equity of 2.32%. The business had revenue of $474.00 million for the quarter, compared to analyst estimates of $450.75 million. Equities analysts forecast that Zillow Group, Inc. will post -0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Qube Research & Technologies Ltd grew its position in Zillow Group by 50.5% during the third quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock worth $42,397,000 after buying an additional 317,683 shares during the period. Amalgamated Bank grew its position in Zillow Group by 70.1% during the third quarter. Amalgamated Bank now owns 14,188 shares of the technology company’s stock worth $635,000 after buying an additional 5,847 shares during the period. Invesco Ltd. lifted its holdings in shares of Zillow Group by 322.7% in the third quarter. Invesco Ltd. now owns 149,822 shares of the technology company’s stock valued at $6,711,000 after purchasing an additional 114,377 shares in the last quarter. State of Wisconsin Investment Board lifted its holdings in shares of Zillow Group by 48.2% in the second quarter. State of Wisconsin Investment Board now owns 654,207 shares of the technology company’s stock valued at $32,187,000 after purchasing an additional 212,875 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Zillow Group in the third quarter valued at about $873,000. 18.94% of the stock is currently owned by institutional investors and hedge funds.

Zillow Group Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Zillow Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zillow Group and related companies with MarketBeat.com's FREE daily email newsletter.