Jeremy Hofmann Sells 3,671 Shares of Zillow Group (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 3,671 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $37.93, for a total transaction of $139,241.03. Following the completion of the sale, the chief financial officer owned 73,816 shares of the company’s stock, valued at approximately $2,799,840.88. The trade was a 4.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 shares were sold at an average price of $37.40, for a total transaction of $205,737.40.
• On Wednesday, February 18th, Jeremy Hofmann sold 7,786 shares of Zillow Group stock. The shares were sold at an average price of $43.73, for a total transaction of $340,481.78.

Zillow Group Stock Down 3.2%

NASDAQ ZG opened at $36.42 on Wednesday. The stock has a market cap of $8.33 billion, a P/E ratio of 145.68, a PEG ratio of 1.61 and a beta of 2.04. The company’s 50-day simple moving average is $42.61 and its 200 day simple moving average is $55.94. Zillow Group, Inc. has a twelve month low of $36.17 and a twelve month high of $90.22.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The business had revenue of $708.00 million for the quarter, compared to analysts’ expectations of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Research analysts anticipate that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Trending Headlines about Zillow Group

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

• Positive Sentiment: Zillow’s latest earnings beat expectations, with revenue and EPS both coming in ahead of analyst forecasts, supporting the view that the business is still growing. Zillow Group stock and earnings details
• Positive Sentiment: Zillow’s rental-market research continues to generate attention, including its latest “hottest rental market” ranking for Providence, which may help brand visibility and traffic. Zillow press release on hottest rental market
• Neutral Sentiment: Several insider stock sales were disclosed, but they were executed under 10b5-1 plans and described as tax-withholding related, making them less concerning than voluntary selling. Insider trading alert for Zillow Group
• Negative Sentiment: Zillow is trying to prevent the loss of a Chicago listing feed from Midwest Real Estate Data, and any disruption to listing access could hurt its marketplace offering and user engagement. Article about Chicago listing feed dispute

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ZG shares. Robert W. Baird lowered their target price on shares of Zillow Group from $67.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Zacks Research cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. The Goldman Sachs Group set a $53.00 price objective on shares of Zillow Group in a research note on Thursday, May 7th. Weiss Ratings raised shares of Zillow Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Finally, Barclays decreased their price objective on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Thirteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.24.

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aberdeen Group plc bought a new position in Zillow Group in the third quarter valued at approximately $2,529,000. Y Intercept Hong Kong Ltd bought a new position in Zillow Group in the third quarter valued at approximately $1,443,000. Tabor Asset Management LP bought a new position in Zillow Group in the third quarter valued at approximately $2,428,000. M&T Bank Corp boosted its stake in 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 during the last quarter. Finally, Emmett Investment Management LP acquired a new stake in Zillow Group in the third quarter worth $2,860,000. 20.32% of the stock is owned by institutional investors.

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.