Insider Selling: Zillow Group (NASDAQ:ZG) CFO Sells 3,510 Shares

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 3,510 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $120,182.40. Following the completion of the sale, the chief financial officer directly owned 64,805 shares of the company’s stock, valued at $2,218,923.20. The trade was a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 Monday, August 17th, Jeremy Hofmann sold 5,661 shares of Zillow Group stock. The shares were sold at an average price of $34.18, for a total value of $193,492.98.

Zillow Group Stock Down 2.4%

NASDAQ:ZG traded down $0.84 during mid-day trading on Monday, reaching $34.32. 1,454,360 shares of the stock were exchanged, 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 company has a 50 day simple moving average of $33.03 and a 200-day simple moving average of $40.23. The stock has a market capitalization of $7.72 billion, a P/E ratio of 156.01, a P/E/G ratio of 1.53 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.08. The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.25 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The company’s revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 earnings per share. As a group, research analysts predict that Zillow Group, Inc. will post 0.89 EPS for the current year.

Wall Street Analyst Weigh In

ZG has been the topic of a number of recent research reports. Piper Sandler dropped their price objective on shares of Zillow Group from $55.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. KeyCorp lowered their price target on Zillow Group from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. JPMorgan Chase & Co. dropped their price target on Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Citizens Jmp reduced their price objective on Zillow Group from $75.00 to $46.00 and set a “market outperform” rating for the company in a research note on Friday, August 7th. Finally, DA Davidson decreased their price objective 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. Eleven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $52.29.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently bought and sold shares of ZG. M&T Bank Corp boosted its holdings in shares of Zillow Group by 38,344.0% in the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after acquiring an additional 1,600,097 shares in the last quarter. Polianta Ltd purchased a new stake in Zillow Group in the 1st quarter valued at approximately $1,494,000. Independent Franchise Partners LLP boosted its holdings in Zillow Group by 1.1% in the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after purchasing an additional 21,862 shares in the last quarter. Deltroit Asset Management UK LLP acquired a new position in Zillow Group during the 4th quarter worth approximately $2,715,000. Finally, Assenagon Asset Management S.A. acquired a new position in Zillow Group during the 2nd quarter worth approximately $1,546,000. Hedge funds and other institutional investors 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.