Zillow Group (NASDAQ:Z) CFO Sells $193,492.98 in Stock

Zillow Group, Inc. (NASDAQ:Z) CFO Jeremy Hofmann sold 5,661 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.18, for a total transaction of $193,492.98. Following the completion of the sale, the chief financial officer owned 59,144 shares in the company, valued at $2,021,541.92. The trade was a 8.74% 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 Thursday, August 13th, Jeremy Hofmann sold 3,510 shares of Zillow Group stock. The stock was sold at an average price of $34.24, for a total transaction of $120,182.40.

Zillow Group Stock Performance

Zillow Group stock opened at $36.58 on Thursday. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 166.28, a price-to-earnings-growth ratio of 1.50 and a beta of 1.98. Zillow Group, Inc. has a 1 year low of $29.23 and a 1 year high of $93.88. The firm’s 50 day moving average price is $32.92 and its two-hundred day moving average price is $39.52.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. The company had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. As a group, equities analysts predict that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Zillow Group

Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its position in shares of Zillow Group by 106.8% in the first quarter. The Manufacturers Life Insurance Company now owns 41,519 shares of the financial services provider’s stock worth $1,718,000 after buying an additional 21,439 shares during the last quarter. Tiger Global Management LLC increased its holdings in shares of Zillow Group by 21.7% during the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock valued at $304,927,000 after acquiring an additional 1,312,000 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Zillow Group by 17,458.4% in the 4th quarter. IFP Advisors Inc now owns 73,921 shares of the financial services provider’s stock valued at $5,043,000 after acquiring an additional 73,500 shares in the last quarter. Emmett Investment Management LP raised its stake in shares of Zillow Group by 353.9% in the 1st quarter. Emmett Investment Management LP now owns 96,236 shares of the financial services provider’s stock valued at $3,897,000 after acquiring an additional 75,036 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new stake in Zillow Group in the 1st quarter worth approximately $1,743,000. 71.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on Z shares. Sanford C. Bernstein lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Wall Street Zen downgraded Zillow Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Evercore lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft cut their price target on Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Morgan Stanley set a $60.00 price target on Zillow Group in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $66.75.

Zillow Group Company Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.