Insider Selling: Zillow Group (NASDAQ:ZG) CEO Sells $209,021.80 in Stock

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 4,729 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $44.20, for a total value of $209,021.80. Following the transaction, the chief executive officer directly owned 129,983 shares of the company’s stock, valued at $5,745,248.60. The trade was a 3.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Jeremy Wacksman also recently made the following trade(s):

• On Tuesday, February 17th, Jeremy Wacksman sold 13,661 shares of Zillow Group stock. The shares were sold at an average price of $44.25, for a total transaction of $604,499.25.

Zillow Group Price Performance

ZG stock opened at $45.54 on Friday. The firm has a 50 day simple moving average of $62.57 and a two-hundred day simple moving average of $70.91. The stock has a market cap of $11.02 billion, a PE ratio of 506.06, a P/E/G ratio of 2.51 and a beta of 2.04. Zillow Group, Inc. has a one year low of $42.25 and a one year high of $90.22.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The company had revenue of $654.00 million for the quarter, compared to the consensus estimate of $650.40 million. During the same period in the prior year, the firm posted $0.27 earnings per share. The business’s revenue was up 18.1% on a year-over-year basis. On average, research analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ZG has been the topic of several recent research reports. KeyCorp reduced their price objective on Zillow Group from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Citigroup cut their target price on Zillow Group from $100.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. UBS Group set a $80.00 price target on shares of Zillow Group in a research note on Wednesday, February 11th. Canaccord Genuity Group set a $72.00 price objective on shares of Zillow Group in a report on Wednesday, February 11th. Finally, Wells Fargo & Company reduced their target price on shares of Zillow Group from $73.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 10th. Fourteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $78.05.

Institutional Trading of Zillow Group

Institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Zillow Group in the second quarter worth approximately $159,770,000. Independent Franchise Partners LLP boosted its position in Zillow Group by 1.1% during 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 buying an additional 21,862 shares during the period. M&T Bank Corp boosted its position in Zillow Group by 38,344.0% during the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after buying an additional 1,600,097 shares during the period. Tiger Global Management LLC grew its holdings in Zillow Group by 30.7% in the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock worth $69,849,000 after acquiring an additional 240,690 shares during the last quarter. Finally, UBS Group AG increased its position in shares of Zillow Group by 44.5% in the fourth quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after acquiring an additional 313,643 shares during the period. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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.