Zillow Group (NASDAQ:Z) CFO Jeremy Hofmann Sells 5,661 Shares

Zillow Group, Inc. (NASDAQ:Z) CFO Jeremy Hofmann sold 5,661 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.18, for a total transaction of $193,492.98. Following the transaction, the chief financial officer owned 59,144 shares in the company, valued at $2,021,541.92. The trade was a 8.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 Thursday, August 13th, Jeremy Hofmann sold 3,510 shares of Zillow Group stock. The shares were sold at an average price of $34.24, for a total transaction of $120,182.40.

Zillow Group Trading Down 3.0%

Shares of NASDAQ Z opened at $33.72 on Tuesday. The firm has a market capitalization of $7.58 billion, a P/E ratio of 153.28, a P/E/G ratio of 1.51 and a beta of 1.98. The firm’s 50-day moving average price is $32.89 and its 200-day moving average price is $39.95. Zillow Group, Inc. has a 1-year low of $29.23 and a 1-year 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, beating analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. Equities research analysts forecast that Zillow Group, Inc. will post 0.89 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on Z. Evercore cut Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Sanford C. Bernstein downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Weiss Ratings lowered Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. Royal Bank Of Canada decreased their target price on Zillow Group from $95.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, June 10th. Finally, JPMorgan Chase & Co. lowered their target price on Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.75.

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 the company. Empowered Funds LLC lifted its holdings in Zillow Group by 4.7% during the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 171 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Zillow Group by 3.0% in the fourth quarter. CIBC Asset Management Inc now owns 7,550 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 220 shares during the period. B. Metzler seel. Sohn & Co. AG lifted its stake in shares of Zillow Group by 6.9% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 3,923 shares of the financial services provider’s stock valued at $268,000 after buying an additional 252 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Zillow Group by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 55,410 shares of the financial services provider’s stock valued at $4,269,000 after buying an additional 259 shares in the last quarter. Finally, Motley Fool Asset Management LLC boosted its holdings in Zillow Group by 7.2% in the 4th quarter. Motley Fool Asset Management LLC now owns 4,194 shares of the financial services provider’s stock worth $286,000 after buying an additional 281 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Zillow Group News Roundup

Here are the key news stories impacting Zillow Group this week:

• Neutral Sentiment: CEO Jeremy Wacksman sold a combined 15,125 shares for approximately $517,320, while retaining 138,574 shares after the latest sale. The transactions reduced his holdings but were explicitly tied to tax obligations under a pre-arranged plan. CEO Form 4 filing
• Neutral Sentiment: CFO Jeremy Hofmann sold 9,171 shares worth about $313,675 across two transactions and continued to own 59,144 shares. The sales were also conducted under a 10b5-1 plan for tax withholding. CFO Form 4 filing
• Negative Sentiment: Several additional executives and insiders sold shares, bringing reported sales to 35,373 shares worth approximately $1.21 million. Dan Spaulding, Errol G. Samuelson, Jennifer Rock and David A. Beitel all reduced their holdings, creating a potentially negative near-term sentiment signal because of the number of insiders selling at roughly $34.24–$35.37 per share. The tax-related purpose substantially reduces the bearish significance. Insider Form 4 filings

Zillow Group Company Profile

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.