Insider Selling: Zillow Group (NASDAQ:ZG) CFO Sells $120,182.40 in Stock

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 3,510 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $120,182.40. Following the completion of the sale, the chief financial officer owned 64,805 shares in the company, valued at $2,218,923.20. The trade was a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jeremy Hofmann also recently made the following trade(s):

• On Monday, August 17th, Jeremy Hofmann sold 5,661 shares of Zillow Group stock. The stock was sold at an average price of $34.18, for a total transaction of $193,492.98.

Zillow Group Stock Performance

Shares of NASDAQ:ZG opened at $37.44 on Thursday. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 170.19, a PEG ratio of 1.54 and a beta of 1.95. Zillow Group, Inc. has a 1-year low of $29.03 and a 1-year high of $90.22. The company has a 50 day moving average price of $33.07 and a 200 day moving average price of $39.60.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The company had revenue of $772.00 million for the quarter, compared to analysts’ expectations of $758.25 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis. On average, sell-side analysts expect that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Institutional Trading of Zillow Group

A number of hedge funds have recently modified their holdings of ZG. AQR Capital Management LLC grew its holdings in shares of Zillow Group by 40.5% during the first quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock valued at $862,000 after buying an additional 3,717 shares in the last quarter. Millennium Management LLC lifted its stake in Zillow Group by 110.8% in the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock worth $19,456,000 after acquiring an additional 152,955 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Zillow Group by 7.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock worth $5,878,000 after acquiring an additional 5,737 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Zillow Group by 5.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company’s stock worth $1,445,000 after acquiring an additional 1,150 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Zillow Group by 16.3% during the 2nd quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company’s stock worth $543,000 after acquiring an additional 1,110 shares during the period. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank Of Canada reduced their target price on Zillow Group from $70.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Sanford C. Bernstein downgraded Zillow Group from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $50.00 to $38.00 in a report on Thursday, August 6th. Citigroup reduced their price objective on shares of Zillow Group from $68.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Evercore set a $40.00 target price on shares of Zillow Group and gave the stock an “in-line” rating in a report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.29.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.