Insider Selling: Zillow Group, Inc. (NASDAQ:ZG) CEO Sells 7,418 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 7,418 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $68.66, for a total transaction of $509,319.88. Following the sale, the chief executive officer now directly owns 182,501 shares of the company’s stock, valued at approximately $12,530,518.66. The trade was a 3.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, May 16th, Jeremy Wacksman sold 10,984 shares of Zillow Group stock. The stock was sold at an average price of $68.98, for a total transaction of $757,676.32.

Zillow Group Trading Up 2.3%

Shares of NASDAQ:ZG opened at $68.76 on Monday. Zillow Group, Inc. has a 12 month low of $38.40 and a 12 month high of $86.58. The company has a 50-day moving average price of $66.00 and a 200 day moving average price of $71.70. The company has a market cap of $16.68 billion, a price-to-earnings ratio of -146.30, a PEG ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). Zillow Group had a negative net margin of 5.01% and a negative return on equity of 2.12%. The business had revenue of $598.00 million during the quarter, compared to the consensus estimate of $587.88 million. During the same period in the previous year, the business posted $0.36 EPS. The firm’s revenue was up 13.0% on a year-over-year basis. As a group, equities analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ZG. JPMorgan Chase & Co. lifted its holdings in shares of Zillow Group by 155.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company’s stock valued at $2,060,000 after acquiring an additional 20,238 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Zillow Group by 28.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company’s stock worth $1,753,000 after purchasing an additional 5,539 shares during the period. Avanza Fonder AB bought a new stake in Zillow Group in the fourth quarter worth about $234,000. Blue Trust Inc. boosted its position in shares of Zillow Group by 70.2% during the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock valued at $30,000 after buying an additional 172 shares during the period. Finally, Asset Dedication LLC purchased a new position in shares of Zillow Group during the fourth quarter valued at approximately $47,000. Institutional investors own 20.32% of the company’s stock.

Analysts Set New Price Targets

ZG has been the subject of several recent analyst reports. Robert W. Baird initiated coverage on shares of Zillow Group in a report on Friday, January 31st. They issued a “neutral” rating and a $88.00 target price for the company. William Blair initiated coverage on shares of Zillow Group in a report on Monday, April 21st. They issued a “market perform” rating for the company. Canaccord Genuity Group dropped their target price on shares of Zillow Group from $86.00 to $76.00 and set a “hold” rating for the company in a report on Monday, May 5th. UBS Group dropped their target price on shares of Zillow Group from $98.00 to $85.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $90.00 target price (down previously from $100.00) on shares of Zillow Group in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Zillow Group has an average rating of “Moderate Buy” and an average price target of $81.80.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.