Zillow Group (NASDAQ:ZG) CEO Sells $319,207.02 in Stock

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 9,339 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.18, for a total transaction of $319,207.02. Following the sale, the chief executive officer directly owned 138,574 shares of the company’s stock, valued at approximately $4,736,459.32. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 Wacksman also recently made the following trade(s):

• On Thursday, August 13th, Jeremy Wacksman sold 5,786 shares of Zillow Group stock. The shares were sold at an average price of $34.24, for a total transaction of $198,112.64.
• On Friday, May 22nd, Jeremy Wacksman sold 9,072 shares of Zillow Group stock. The stock was sold at an average price of $36.54, for a total transaction of $331,490.88.

Zillow Group Stock Up 6.1%

Zillow Group stock opened at $37.44 on Thursday. The firm has a fifty day moving average of $33.07 and a 200-day moving average of $39.60. Zillow Group, Inc. has a 52-week low of $29.03 and a 52-week high of $90.22. The firm has a market capitalization of $8.42 billion, a P/E ratio of 170.19, a PEG ratio of 1.54 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last posted its earnings results 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. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The business had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.25 million. During the same quarter in the previous year, the business posted $0.40 EPS. The business’s quarterly revenue was up 17.9% on a year-over-year basis. On average, research analysts expect that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently bought and sold shares of the business. Arax Advisory Partners grew its holdings in shares of Zillow Group by 402.3% during the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock valued at $30,000 after purchasing an additional 354 shares during the last quarter. First Command Advisory Services Inc. bought a new position in Zillow Group during the 4th quarter worth $34,000. EverSource Wealth Advisors LLC grew its stake in Zillow Group by 183.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after buying an additional 637 shares during the last quarter. Fifth Third Bancorp increased its position in Zillow Group by 990.3% in the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock worth $42,000 after buying an additional 921 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in Zillow Group in the fourth quarter valued at $47,000. Institutional investors own 20.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Mizuho reduced their price target on Zillow Group from $65.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Zacks Research cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Canaccord Genuity Group lowered their price target on shares of Zillow Group from $52.00 to $40.00 and set a “hold” rating for the company in a report on Thursday, August 6th. Piper Sandler cut their price objective on shares of Zillow Group from $55.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Finally, BTIG Research reissued a “neutral” rating on shares of Zillow Group in a research report on Thursday, June 11th. Eleven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Zillow Group presently has a consensus rating of “Hold” and an average target price of $52.29.

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.