Insider Selling: Zillow Group (NASDAQ:Z) CEO Sells $198,112.64 in Stock

Zillow Group, Inc. (NASDAQ:Z) CEO Jeremy Wacksman sold 5,786 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $198,112.64. Following the completion of the sale, the chief executive officer owned 147,913 shares of the company’s stock, valued at $5,064,541.12. The trade was a 3.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 Wacksman also recently made the following trade(s):

• On Monday, August 17th, Jeremy Wacksman sold 9,339 shares of Zillow Group stock. The shares were sold at an average price of $34.18, for a total value of $319,207.02.
• 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 5.8%

NASDAQ:Z opened at $36.58 on Thursday. The company has a fifty day moving average of $32.92 and a 200 day moving average of $39.52. Zillow Group, Inc. has a 52 week low of $29.23 and a 52 week high of $93.88. The firm has a market capitalization of $8.23 billion, a P/E ratio of 166.28, a P/E/G ratio of 1.50 and a beta of 1.98.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.10 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. As a group, analysts anticipate that Zillow Group, Inc. will post 0.89 EPS for the current year.

Institutional Investors Weigh In On Zillow Group

Several hedge funds have recently added to or reduced their stakes in Z. Independent Franchise Partners LLP boosted its stake in Zillow Group by 0.9% in the 4th quarter. Independent Franchise Partners LLP now owns 10,953,405 shares of the financial services provider’s stock worth $747,241,000 after purchasing an additional 94,569 shares in the last quarter. Capital World Investors increased its stake in Zillow Group by 1.8% during the 4th quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider’s stock valued at $738,554,000 after purchasing an additional 191,058 shares in the last quarter. Tiger Global Management LLC raised its holdings in Zillow Group by 21.7% in the first quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock worth $304,927,000 after buying an additional 1,312,000 shares during the last quarter. State Street Corp raised its holdings in Zillow Group by 3.9% in the fourth quarter. State Street Corp now owns 3,838,788 shares of the financial services provider’s stock worth $261,882,000 after buying an additional 143,726 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Zillow Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 3,363,657 shares of the financial services provider’s stock worth $228,898,000 after buying an additional 55,323 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on Z shares. Sanford C. Bernstein lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Zacks Research lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada decreased their price objective on Zillow Group from $95.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, June 10th. Wall Street Zen lowered Zillow Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Evercore downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $66.75.

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.