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 firm’s stock in a transaction dated 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 transaction, the chief technology officer now owns 92 shares in the company, valued at approximately $6,659.88. This trade represents a 99.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Zillow Group Stock Performance

ZG opened at $70.73 on Monday. The stock has a market cap of $16.37 billion, a PE ratio of -124.09 and a beta of 2.02. Zillow Group, Inc. has a 1 year low of $36.38 and a 1 year high of $73.89. The stock’s 50 day simple moving average is $61.58 and its 200-day simple moving average is $51.66. 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 announced 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 net margin of 6.17% and a negative return on equity of 2.33%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.12) EPS. Sell-side analysts forecast that Zillow Group, Inc. will post -0.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ZG shares. Piper Sandler reissued an “overweight” rating and issued a $73.00 price objective (up from $62.00) on shares of Zillow Group in a research note on Thursday, November 7th. Citigroup increased their price target on Zillow Group from $58.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 8th. DA Davidson boosted their price objective on shares of Zillow Group from $71.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and raised their target price for the company from $50.00 to $80.00 in a research note on Monday, September 16th. Finally, JMP Securities boosted their target price on shares of Zillow Group from $62.00 to $82.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.17.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ZG. Future Financial Wealth Managment LLC acquired a new stake in Zillow Group during the third quarter valued at approximately $29,000. EntryPoint Capital LLC bought a new position in shares of Zillow Group during the 1st quarter worth approximately $53,000. Signaturefd LLC boosted its stake in Zillow Group by 29.7% in the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after buying an additional 360 shares in the last quarter. GAMMA Investing LLC grew its position in Zillow Group by 86.7% in the third quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after acquiring an additional 561 shares during the period. Finally, Pinpoint Asset Management Ltd acquired a new position in Zillow Group during the third quarter worth $95,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.