Traders Sell Zillow Group (Z) on Strength After Insider Selling

Traders sold shares of Zillow Group, Inc. (NASDAQ:Z) on strength during trading hours on Wednesday after an insider sold shares in the company. $7.77 million flowed into the stock on the tick-up and $25.59 million flowed out of the stock on the tick-down, for a money net flow of $17.82 million out of the stock. Of all stocks tracked, Zillow Group had the 32nd highest net out-flow for the day. Zillow Group traded up $0.15 for the day and closed at $47.57Specifically, COO Amy Bohutinsky sold 27,783 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $45.39, for a total value of $1,261,070.37. Following the completion of the sale, the chief operating officer now owns 27,783 shares in the company, valued at $1,261,070.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO David A. Beitel sold 4,666 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $47.24, for a total transaction of $220,421.84. Following the completion of the sale, the chief technology officer now owns 31,408 shares of the company’s stock, valued at approximately $1,483,713.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 373,302 shares of company stock worth $16,162,805. 21.72% of the stock is currently owned by company insiders.

A number of brokerages have commented on Z. BidaskClub upgraded shares of Zillow Group from a “sell” rating to a “hold” rating in a research note on Monday, January 29th. Cowen restated a “hold” rating on shares of Zillow Group in a research note on Friday, February 9th. Morgan Stanley upgraded shares of Zillow Group from an “equal weight” rating to an “overweight” rating and set a $50.00 price target for the company in a research note on Wednesday, January 10th. Finally, Canaccord Genuity raised their price target on shares of Zillow Group from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Zillow Group currently has a consensus rating of “Buy” and a consensus price target of $50.07.

The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.11 and a current ratio of 7.11. The stock has a market capitalization of $5,990.00 and a price-to-earnings ratio of -93.27.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Thursday, February 8th. The financial services provider reported $0.09 earnings per share for the quarter. The business had revenue of $282.33 million during the quarter. Zillow Group had a negative net margin of 8.77% and a positive return on equity of 0.03%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in Z. JPMorgan Chase & Co. grew its holdings in Zillow Group by 878.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,152 shares of the financial services provider’s stock worth $154,000 after acquiring an additional 2,830 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Zillow Group by 16.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 74,049 shares of the financial services provider’s stock worth $3,629,000 after acquiring an additional 10,630 shares during the period. Virtu KCG Holdings LLC acquired a new stake in Zillow Group during the 2nd quarter worth $206,000. Royal Bank of Canada grew its holdings in Zillow Group by 184.1% during the 2nd quarter. Royal Bank of Canada now owns 13,837 shares of the financial services provider’s stock worth $677,000 after acquiring an additional 8,966 shares during the period. Finally, State Street Corp grew its holdings in Zillow Group by 0.5% during the 2nd quarter. State Street Corp now owns 1,891,347 shares of the financial services provider’s stock worth $92,696,000 after acquiring an additional 8,538 shares during the period. 58.11% of the stock is owned by hedge funds and other institutional investors.

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About Zillow Group

Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable people find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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