Zillow Group (NASDAQ:ZG) CEO Sells $198,112.64 in Stock

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 5,786 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $198,112.64. Following the transaction, the chief executive officer directly owned 147,913 shares in the company, valued at $5,064,541.12. This trade represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 Wacksman also recently made the following trade(s):

• On Monday, August 17th, Jeremy Wacksman sold 9,339 shares of Zillow Group stock. The stock was sold at an average price of $34.18, for a total transaction of $319,207.02.
• On Friday, May 22nd, Jeremy Wacksman sold 9,072 shares of Zillow Group stock. The shares were sold at an average price of $36.54, for a total transaction of $331,490.88.

Zillow Group Stock Up 6.1%

Shares of ZG stock opened at $37.44 on Thursday. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 170.19, a PEG ratio of 1.54 and a beta of 1.95. The company’s 50 day moving average is $33.07 and its 200 day moving average is $39.60. Zillow Group, Inc. has a 52-week low of $29.03 and a 52-week high of $90.22.

Zillow Group (NASDAQ:ZG) last announced its 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. The business had revenue of $772.00 million for the quarter, compared to analysts’ expectations of $758.25 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. Analysts anticipate that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ZG. Citizens Jmp lowered their price target on shares of Zillow Group from $75.00 to $46.00 and set a “market outperform” rating on the stock in a report on Friday, August 7th. Susquehanna reduced their price target on Zillow Group from $50.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. The Goldman Sachs Group decreased their price objective on Zillow Group from $53.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, June 12th. Sanford C. Bernstein lowered Zillow Group from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $50.00 to $38.00 in a research report on Thursday, August 6th. Finally, Citigroup cut their price objective on shares of Zillow Group from $68.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Zillow Group currently has an average rating of “Hold” and an average price target of $52.29.

Institutional Trading of Zillow Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Arax Advisory Partners increased its holdings in Zillow Group by 402.3% in the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock valued at $30,000 after buying an additional 354 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in shares of Zillow Group during the 4th quarter valued at about $34,000. EverSource Wealth Advisors LLC grew its position in shares of Zillow Group by 183.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after acquiring an additional 637 shares during the period. Fifth Third Bancorp increased its stake in shares of Zillow Group by 990.3% in the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock valued at $42,000 after purchasing an additional 921 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Zillow Group in the 4th quarter worth about $47,000. 20.32% of the stock is owned by institutional investors and hedge funds.

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.