Zillow Group, Inc. (NASDAQ:ZG) Director Acquires $42,270,000.00 in Stock

Zillow Group, Inc. (NASDAQ:ZGGet Free Report) Director Jay C. Hoag acquired 1,000,000 shares of Zillow Group stock in a transaction dated Friday, June 7th. The stock was bought at an average price of $42.27 per share, for a total transaction of $42,270,000.00. Following the completion of the purchase, the director now owns 652,520 shares of the company’s stock, valued at approximately $27,582,020.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Zillow Group Stock Performance

Shares of ZG stock opened at $47.07 on Friday. The stock’s 50-day moving average is $42.22 and its two-hundred day moving average is $48.43. The firm has a market cap of $11.12 billion, a price-to-earnings ratio of -67.30 and a beta of 2.02. Zillow Group, Inc. has a 1 year low of $33.23 and a 1 year high of $59.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.32 and a current ratio of 3.32.

Zillow Group (NASDAQ:ZGGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $529.00 million for the quarter, compared to analyst estimates of $509.30 million. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. Analysts predict that Zillow Group, Inc. will post -0.18 earnings per share for the current year.

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Shannon River Fund Management LLC purchased a new position in shares of Zillow Group during the fourth quarter worth about $4,384,000. Norges Bank purchased a new stake in Zillow Group in the 4th quarter valued at approximately $102,096,000. CWM LLC boosted its holdings in Zillow Group by 3,675.7% in the 4th quarter. CWM LLC now owns 46,139 shares of the technology company’s stock valued at $2,617,000 after purchasing an additional 44,917 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in Zillow Group by 50.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 946,571 shares of the technology company’s stock valued at $42,397,000 after purchasing an additional 317,683 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in Zillow Group in the 4th quarter valued at approximately $1,305,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Citigroup reduced their price objective on Zillow Group from $68.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Susquehanna increased their price objective on Zillow Group from $36.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Canaccord Genuity Group reduced their price objective on Zillow Group from $58.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, April 29th. Royal Bank of Canada reduced their price objective on Zillow Group from $66.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Finally, Barclays cut their price target on Zillow Group from $40.00 to $35.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Zillow Group has an average rating of “Moderate Buy” and a consensus price target of $57.40.

Check Out Our Latest Stock Analysis on ZG

About Zillow Group

(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.

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