Insider Selling: Zillow Group (NASDAQ:ZG) CFO Sells $139,241.03 in Stock

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 3,671 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $37.93, for a total value of $139,241.03. Following the transaction, the chief financial officer directly owned 73,816 shares of the company’s stock, valued at approximately $2,799,840.88. This represents a 4.74% 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 Monday, May 18th, Jeremy Hofmann sold 5,501 shares of Zillow Group stock. The stock was sold at an average price of $37.40, for a total value of $205,737.40.
• On Wednesday, February 18th, Jeremy Hofmann sold 7,786 shares of Zillow Group stock. The stock was sold at an average price of $43.73, for a total value of $340,481.78.

Zillow Group Trading Up 1.4%

Shares of ZG stock opened at $36.92 on Thursday. The firm has a fifty day moving average price of $42.45 and a 200 day moving average price of $55.72. The company has a market cap of $8.45 billion, a P/E ratio of 147.68, a PEG ratio of 1.56 and a beta of 2.04. Zillow Group, Inc. has a 12 month low of $35.11 and a 12 month high of $90.22.

Zillow Group (NASDAQ:ZG) last issued its 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. The firm had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The company’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share. On average, equities analysts forecast that Zillow Group, Inc. will post 0.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ZG shares. Benchmark reaffirmed a “buy” rating on shares of Zillow Group in a report on Wednesday, February 11th. Cantor Fitzgerald lowered their price target on Zillow Group from $56.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Mizuho lowered their price target on Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Barclays lowered their price target 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. Finally, Robert W. Baird lowered their price target on Zillow Group from $67.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Thirteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.24.

Hedge Funds Weigh In On Zillow Group

Several large investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in shares of Zillow Group by 40.5% in the first quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock valued at $862,000 after acquiring an additional 3,717 shares during the period. Millennium Management LLC boosted its holdings in shares of Zillow Group by 110.8% in the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after acquiring an additional 152,955 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Zillow Group by 7.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock valued at $5,878,000 after acquiring an additional 5,737 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Zillow Group by 5.8% in the second quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company’s stock valued at $1,445,000 after acquiring an additional 1,150 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of Zillow Group by 16.3% in the second quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company’s stock valued at $543,000 after acquiring an additional 1,110 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group News Summary

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

• Positive Sentiment: Jefferies said stronger April housing data could benefit Zillow Group by supporting improved transaction growth in the second quarter, which may help revenue trends if housing activity continues to recover. Zillow seen benefiting from stronger April housing data, says Jefferies
• Positive Sentiment: Zacks highlighted Zillow Group as a top-ranked growth stock, reinforcing that some market participants still view the company’s fundamentals and growth profile favorably. Zillow Group (ZG) is a Top-Ranked Growth Stock: Should You Buy?
• Neutral Sentiment: Insider Dan Spaulding sold shares under a pre-arranged trading plan to cover tax withholding obligations, which is not necessarily a bearish signal but can still weigh on sentiment. Dan Spaulding Sells 2,056 Shares of Zillow Group (NASDAQ:ZG) Stock
• Negative Sentiment: Zillow is facing multiple securities-fraud investigation notices from law firms, creating legal uncertainty and potential headline risk for shareholders. Rosen Law Firm Encourages Zillow Group, Inc. Investors to Inquire About Securities Class Action Investigation – Z, ZG
• Negative Sentiment: Reports that a Midwest listings site suspended its data feed to Zillow suggest possible disruption to Zillow’s listing supply, which could hurt the core marketplace model if the issue spreads. Midwest listings site suspends its data feed to Zillow

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.