Insider Selling: Zillow Group (NASDAQ:ZG) CEO Sells 9,339 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 9,339 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $319,207.02. Following the completion of the sale, the chief executive officer owned 138,574 shares in the company, valued at approximately $4,736,459.32. This represents a 6.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $34.24, for a total value 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 value of $331,490.88.

Zillow Group Trading Down 2.4%

Shares of ZG stock traded down $0.84 during mid-day trading on Monday, reaching $34.32. The stock had a trading volume of 1,454,360 shares, compared to its average volume of 1,202,979. Zillow Group, Inc. has a 12-month low of $29.03 and a 12-month high of $90.22. The company has a market cap of $7.72 billion, a P/E ratio of 156.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.95. The business has a 50-day simple moving average of $33.03 and a 200 day simple moving average of $40.23.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.08. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.25 million. During the same quarter in the previous year, the company posted $0.40 EPS. The business’s revenue was up 17.9% on a year-over-year basis. Research analysts anticipate that Zillow Group, Inc. will post 0.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Benchmark lowered their price target on shares of Zillow Group from $110.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Cantor Fitzgerald cut their price objective on Zillow Group from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Piper Sandler lowered their target price on Zillow Group from $55.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Royal Bank Of Canada dropped their price target on Zillow Group from $70.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Finally, KeyCorp cut their price target on Zillow Group from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Eleven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $52.29.

Institutional Trading of Zillow Group

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in Zillow Group by 40.5% in the 1st quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock valued at $862,000 after acquiring an additional 3,717 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Zillow Group by 110.8% during the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock worth $19,456,000 after purchasing an additional 152,955 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Zillow Group by 7.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock worth $5,878,000 after purchasing an additional 5,737 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Zillow Group by 5.8% in the second quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company’s stock valued at $1,445,000 after purchasing an additional 1,150 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of Zillow Group by 16.3% in the second quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company’s stock valued at $543,000 after purchasing an additional 1,110 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.