Jeremy Wacksman Sells 5,786 Shares of Zillow Group (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 5,786 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $198,112.64. Following the sale, the chief executive officer owned 147,913 shares of the company’s stock, valued at $5,064,541.12. This trade represents a 3.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 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 value 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 value of $331,490.88.

Zillow Group Stock Performance

Shares of NASDAQ:ZG traded down $0.84 during midday trading on Monday, reaching $34.32. The company had a trading volume of 1,454,360 shares, compared to its average volume of 1,202,979. Zillow Group, Inc. has a 1-year low of $29.03 and a 1-year high of $90.22. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 156.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.95. The company has a fifty day simple moving average of $33.03 and a two-hundred day simple moving average of $40.23.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.08. 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 for the quarter, compared to the consensus estimate of $758.25 million. During the same quarter in the previous year, the company earned $0.40 EPS. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. Analysts expect that Zillow Group, Inc. will post 0.89 EPS for the current year.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZG. Arax Advisory Partners boosted its stake in shares of Zillow Group by 402.3% during the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock valued at $30,000 after buying an additional 354 shares during the period. First Command Advisory Services Inc. acquired a new position in shares of Zillow Group in the fourth quarter worth $34,000. Kestra Advisory Services LLC purchased a new stake in shares of Zillow Group during the fourth quarter worth $47,000. Quarry LP purchased a new stake in shares of Zillow Group during the fourth quarter worth $56,000. Finally, Global Retirement Partners LLC boosted its position in Zillow Group by 4,130.0% during the fourth quarter. Global Retirement Partners LLC now owns 846 shares of the technology company’s stock valued at $58,000 after purchasing an additional 826 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Canaccord Genuity Group reduced their price target on shares of Zillow Group from $52.00 to $40.00 and set a “hold” rating for the company in a research report on Thursday, August 6th. Sanford C. Bernstein downgraded shares of Zillow Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $50.00 to $38.00 in a research note on Thursday, August 6th. Susquehanna reduced their target price on Zillow Group from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. DA Davidson decreased their target price on Zillow Group from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Citizens Jmp dropped their price target on Zillow Group from $75.00 to $46.00 and set a “market outperform” rating on the stock in a research report on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $52.29.

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.