Insider Selling: Zillow Group (NASDAQ:ZG) CEO Sells 9,072 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 9,072 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $36.54, for a total transaction of $331,490.88. Following the completion of the transaction, the chief executive officer owned 153,699 shares in the company, valued at approximately $5,616,161.46. This trade represents a 5.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, May 14th, Jeremy Wacksman sold 6,051 shares of Zillow Group stock. The stock was sold at an average price of $37.92, for a total transaction of $229,453.92.

Zillow Group Trading Down 1.8%

Shares of NASDAQ:ZG traded down $0.67 during trading on Tuesday, reaching $36.21. 1,191,397 shares of the stock were exchanged, compared to its average volume of 1,116,806. Zillow Group, Inc. has a 12 month low of $35.11 and a 12 month high of $90.22. The stock has a 50-day moving average price of $42.09 and a 200-day moving average price of $55.00. The firm has a market cap of $8.28 billion, a PE ratio of 144.84, a PEG ratio of 1.58 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The company had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. On average, sell-side analysts expect that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZG. Canaccord Genuity Group reduced their target price on shares of Zillow Group from $72.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, May 7th. BTIG Research reaffirmed a “neutral” rating on shares of Zillow Group in a research report on Friday. Sanford C. Bernstein upgraded shares of Zillow Group from an “outperform” rating to a “buy” rating in a research note on Tuesday. Robert W. Baird cut their price objective on shares of Zillow Group from $67.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Finally, Weiss Ratings lowered shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday. Thirteen analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.24.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Zillow Group during the fourth quarter worth about $152,050,000. M&T Bank Corp increased its holdings in Zillow Group by 38,344.0% in the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after buying an additional 1,600,097 shares during the period. UBS Group AG raised its position in shares of Zillow Group by 44.5% in the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after buying an additional 313,643 shares in the last quarter. Tiger Global Management LLC raised its position in shares of Zillow Group by 30.7% in the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock valued at $69,849,000 after buying an additional 240,690 shares in the last quarter. Finally, Virtu Financial LLC lifted its holdings in shares of Zillow Group by 271.9% during the 3rd quarter. Virtu Financial LLC now owns 293,718 shares of the technology company’s stock worth $21,864,000 after acquiring an additional 214,743 shares during the period. Institutional investors own 20.32% of the company’s stock.

About Zillow Group

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.