Jeremy Wacksman Sells 6,051 Shares of Zillow Group (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 6,051 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $37.92, for a total transaction of $229,453.92. Following the completion of the sale, the chief executive officer directly owned 162,771 shares of the company’s stock, valued at $6,172,276.32. This represents a 3.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 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 Trading Up 0.5%

Shares of ZG opened at $38.06 on Friday. Zillow Group, Inc. has a 12-month low of $37.26 and a 12-month high of $90.22. The firm has a 50-day moving average price of $42.99 and a 200 day moving average price of $56.54. The firm has a market capitalization of $8.71 billion, a P/E ratio of 152.24, a P/E/G ratio of 1.78 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The firm had revenue of $708.00 million during the quarter, compared to analyst estimates of $705.17 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Zillow Group’s quarterly revenue was up 18.4% on a year-over-year basis. Equities research analysts predict that Zillow Group, Inc. will post 0.82 earnings per share for the current fiscal year.

Key Zillow Group News

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

• Positive Sentiment: Zillow highlighted survey results showing most prospective home sellers want broad public exposure rather than private listing networks. The company said 85% of soon-to-be sellers are more likely to hire an agent who can pre-market to the broadest online audience, reinforcing Zillow’s core pitch that open-market listings benefit sellers. Article Title
• Positive Sentiment: Zillow also emphasized its data showing sellers lose money in same-agent dual agency deals and off-MLS listings, a message that could support demand for Zillow’s public-listing ecosystem and advertising tools. Article Title
• Neutral Sentiment: JPMorgan/other analyst commentary pointed to a lower price target for Zillow Group, suggesting Wall Street expectations have softened and may be limiting upside sentiment. Article Title
• Negative Sentiment: Multiple Zillow insiders, including the CEO, COO, CTO, CAO, general counsel, and another executive, sold shares this week. The company said the sales were mainly to cover tax withholding tied to vesting equity awards and some were made under a 10b5-1 plan, but the cluster of insider selling can still create a bearish overhang for investors. Article Title
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims against Zillow, adding legal uncertainty that may be a headwind for the stock. Article Title

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ZG. Arax Advisory Partners lifted its position in Zillow Group by 402.3% in the fourth 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 last quarter. Smartleaf Asset Management LLC lifted its position in shares of Zillow Group by 78.9% during the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 187 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in shares of Zillow Group in the fourth quarter valued at approximately $34,000. Fifth Third Bancorp boosted its stake in shares of Zillow Group by 990.3% in the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock valued at $42,000 after purchasing an additional 921 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of Zillow Group in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Zillow Group from $60.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Susquehanna set a $50.00 target price on shares of Zillow Group in a research report on Thursday, February 12th. Barclays decreased their target price on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Zillow Group in a research report on Tuesday, April 28th. Finally, UBS Group decreased their target price on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.24.

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.