<SEC-DOCUMENT>0001617640-21-000088.txt : 20211119
<SEC-HEADER>0001617640-21-000088.hdr.sgml : 20211119
<ACCEPTANCE-DATETIME>20211119170826
ACCESSION NUMBER:		0001617640-21-000088
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20211117
FILED AS OF DATE:		20211119
DATE AS OF CHANGE:		20211119

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Frink Lloyd D
		CENTRAL INDEX KEY:			0001524265

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36853
		FILM NUMBER:		211429221

	MAIL ADDRESS:	
		STREET 1:		C/O ZILLOW GROUP, INC.
		STREET 2:		1301 SECOND AVENUE, FLOOR 31
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ZILLOW GROUP, INC.
		CENTRAL INDEX KEY:			0001617640
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				471645716
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1301 SECOND AVENUE, FLOOR 31
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101
		BUSINESS PHONE:		(206) 470-7000

	MAIL ADDRESS:	
		STREET 1:		1301 SECOND AVENUE, FLOOR 31
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Zebra Holdco Inc.
		DATE OF NAME CHANGE:	20140822
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_163735969185648.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-11-17</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001617640</issuerCik>
        <issuerName>ZILLOW GROUP, INC.</issuerName>
        <issuerTradingSymbol>Z AND ZG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001524265</rptOwnerCik>
            <rptOwnerName>Frink Lloyd D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ZILLOW GROUP, INC., 1301 SECOND AVEN</rptOwnerStreet1>
            <rptOwnerStreet2>FLOOR 31</rptOwnerStreet2>
            <rptOwnerCity>SEATTLE</rptOwnerCity>
            <rptOwnerState>WA</rptOwnerState>
            <rptOwnerZipCode>98101</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chairman &amp; President</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class C Capital Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-11-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>87500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>35.4807</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2395010</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class C Capital Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-11-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>11821</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>61.6431</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2383189</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class C Capital Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>797765</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Frink Descendants' Trust 12/30/04</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>35.4807</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-11-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>87500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2016-01-01</value>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2022-01-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class C Capital Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>87500.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents shares sold to cover tax withholding due upon exercise of stock options.</footnote>
        <footnote id="F2">The reported price is a weighted average sale price.  These shares were sold in multiple transactions at prices ranging from $61.51 to $61.84.  The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each separate price within the range.</footnote>
        <footnote id="F3">Date at which first vesting occurs is indicated.  1/4th of the total number of shares originally subject to the option become exercisable at the first vesting date and an additional 1/48th become exercisable each month thereafter until the option is fully vested.</footnote>
    </footnotes>

    <remarks>frinkpoa.txt</remarks>

    <ownerSignature>
        <signatureName>/s/ Shannon Cartales, Attorney-in-Fact</signatureName>
        <signatureDate>2021-11-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
