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 company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $72.39, for a total transaction of $4,108,132.50. Following the completion of the transaction, the chief technology officer now directly owns 92 shares in the company, valued at $6,659.88. The trade was a 99.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Zillow Group Stock Down 1.8 %

Shares of ZG stock traded down $1.27 during trading hours on Friday, reaching $70.73. 594,758 shares of the stock were exchanged, compared to its average volume of 626,221. The firm has a market capitalization of $16.37 billion, a P/E ratio of -124.09 and a beta of 2.02. Zillow Group, Inc. has a 12-month low of $36.38 and a 12-month 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 business’s fifty day moving average is $61.20 and its two-hundred day moving average is $51.33.

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. DA Davidson upped their target price on shares of Zillow Group from $71.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Evercore ISI upped their target price on shares of Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and set a $73.00 price target (up previously from $62.00) on shares of Zillow Group in a research report on Thursday, November 7th. Susquehanna increased their price target on shares of Zillow Group from $55.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Craig Hallum increased their price target on shares of Zillow Group from $55.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.17.

Hedge Funds Weigh In On Zillow Group

Several hedge funds have recently added to or reduced their stakes in ZG. Cynosure Group LLC purchased a new position in shares of Zillow Group during the third quarter worth approximately $12,248,000. Mirabella Financial Services LLP purchased a new position in shares of Zillow Group during the third quarter worth approximately $11,351,000. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Zillow Group during the third quarter worth approximately $9,813,000. CreativeOne Wealth LLC grew its position in shares of Zillow Group by 164.4% during the third quarter. CreativeOne Wealth LLC now owns 179,700 shares of the technology company’s stock worth $11,129,000 after acquiring an additional 111,743 shares during the last quarter. Finally, Mark Asset Management LP purchased a new position in shares of Zillow Group during the second quarter worth approximately $4,524,000. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

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.