Zillow Group (NASDAQ:ZG) CFO Jeremy Hofmann Sells 5,501 Shares

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 5,501 shares of Zillow Group stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $37.40, for a total value of $205,737.40. Following the sale, the chief financial officer directly owned 68,315 shares in the company, valued at $2,554,981. The trade was a 7.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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, May 14th, Jeremy Hofmann sold 3,671 shares of Zillow Group stock. The shares were sold at an average price of $37.93, for a total value of $139,241.03.
• On Wednesday, February 18th, Jeremy Hofmann sold 7,786 shares of Zillow Group stock. The shares were sold at an average price of $43.73, for a total transaction of $340,481.78.

Zillow Group Stock Down 1.2%

NASDAQ ZG traded down $0.45 on Monday, hitting $37.61. The company’s stock had a trading volume of 1,697,655 shares, compared to its average volume of 1,113,151. The company’s 50-day moving average is $42.99 and its 200 day moving average is $56.42. The firm has a market cap of $8.61 billion, a PE ratio of 150.44, a PEG ratio of 1.78 and a beta of 2.04. Zillow Group, Inc. has a 1-year low of $37.26 and a 1-year high of $90.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The company had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.17 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. Zillow Group’s revenue was up 18.4% compared to the same quarter last year. On average, equities analysts expect that Zillow Group, Inc. will post 0.82 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Barclays decreased their price objective on Zillow Group from $58.00 to $54.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. KeyCorp decreased their price objective on Zillow Group from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Benchmark restated a “buy” rating on shares of Zillow Group in a report on Wednesday, February 11th. Piper Sandler lowered their price target on shares of Zillow Group from $70.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $95.00 price target on shares of Zillow Group in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.24.

Institutional Investors Weigh In On Zillow Group

Large investors have recently added to or reduced their stakes in the business. Aberdeen Group plc acquired a new stake in shares of Zillow Group during the 3rd quarter worth approximately $2,529,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Zillow Group during the 3rd quarter valued at $1,443,000. Tabor Asset Management LP bought a new position in Zillow Group during the third quarter worth $2,428,000. M&T Bank Corp boosted its stake in Zillow Group by 38,344.0% during the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after acquiring an additional 1,600,097 shares in the last quarter. Finally, Emmett Investment Management LP acquired a new stake in Zillow Group in the third quarter worth $2,860,000. Institutional investors and hedge funds 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.