Insider Selling: Zillow Group (NASDAQ:Z) CFO Sells $205,737.40 in Stock

Zillow Group, Inc. (NASDAQ:Z) CFO Jeremy Hofmann sold 5,501 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $205,737.40. Following the sale, the chief financial officer owned 68,315 shares of the company’s stock, valued at approximately $2,554,981. This represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Thursday, May 14th, Jeremy Hofmann sold 3,671 shares of Zillow Group stock. The stock was sold at an average price of $37.93, for a total value of $139,241.03.
• 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 Stock Up 1.3%

Shares of Z stock opened at $36.47 on Thursday. Zillow Group, Inc. has a twelve month low of $34.70 and a twelve month high of $93.88. The business has a fifty day simple moving average of $42.41 and a 200 day simple moving average of $56.35. The company has a market cap of $8.34 billion, a P/E ratio of 145.88, a P/E/G ratio of 1.54 and a beta of 2.07.

Zillow Group (NASDAQ:Z) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $705.10 million. As a group, equities research analysts anticipate that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zillow Group

Large investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new stake in Zillow Group during the third quarter worth approximately $27,000. V Square Quantitative Management LLC acquired a new stake in Zillow Group in the fourth quarter valued at approximately $28,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Zillow Group in the third quarter valued at approximately $29,000. Cullen Frost Bankers Inc. grew its stake in Zillow Group by 58.6% in the third quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 163 shares during the period. Finally, Pittenger & Anderson Inc. grew its stake in Zillow Group by 32.8% in the third quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on Z. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a report on Wednesday, February 11th. Keefe, Bruyette & Woods lowered their target price on Zillow Group from $60.00 to $50.00 and set a “market perform” rating for the company in a report on Thursday, May 7th. JPMorgan Chase & Co. lowered their target price on Zillow Group from $84.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Barclays raised Zillow Group from a “strong sell” rating to a “hold” rating in a report on Thursday, January 29th. Finally, UBS Group lowered their target price on Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

About Zillow Group

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.