Zillow Group (NASDAQ:Z) CFO Jeremy Hofmann Sells 3,510 Shares

Zillow Group, Inc. (NASDAQ:Z) CFO Jeremy Hofmann sold 3,510 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $120,182.40. Following the transaction, the chief financial officer owned 64,805 shares in the company, valued at $2,218,923.20. This represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $193,492.98.

Zillow Group Price Performance

Shares of Z traded down $1.06 on Monday, reaching $33.72. 5,034,691 shares of the stock traded hands, compared to its average volume of 4,238,369. The stock’s 50-day moving average price is $32.91 and its 200-day moving average price is $40.19. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 153.28, a P/E/G ratio of 1.51 and a beta of 1.98. Zillow Group, Inc. has a 12 month low of $29.23 and a 12 month high of $93.88.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Wall Street Zen downgraded shares of Zillow Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Sanford C. Bernstein cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Jefferies Financial Group cut their price target on shares of Zillow Group from $75.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Finally, UBS Group cut their target price on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Leonteq Securities AG grew its holdings in Zillow Group by 627.0% during the 1st quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 1,160 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Zillow Group by 283.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 1,045 shares in the last quarter. IFC & Insurance Marketing Inc. acquired a new position in shares of Zillow Group during the fourth quarter worth approximately $68,000. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Zillow Group during the fourth quarter valued at approximately $71,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in shares of Zillow Group by 34.5% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

About Zillow Group

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.