Zillow Group (NASDAQ:ZG) CEO Jeremy Wacksman Sells 5,786 Shares

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 5,786 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $198,112.64. Following the completion of the transaction, the chief executive officer owned 147,913 shares in the company, valued at $5,064,541.12. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 stock was sold at an average price of $34.18, for a total transaction 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 Price Performance

ZG stock opened at $34.32 on Tuesday. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 156.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.95. The company has a 50-day moving average of $33.02 and a two-hundred day moving average of $40.01. Zillow Group, Inc. has a 52-week low of $29.03 and a 52-week high of $90.22.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $758.25 million. During the same period in the previous year, the company posted $0.40 earnings per share. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. Equities analysts expect that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ZG shares. Canaccord Genuity Group cut their price target on Zillow Group from $52.00 to $40.00 and set a “hold” rating for the company in a report on Thursday, August 6th. Benchmark lowered their price objective on shares of Zillow Group from $110.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. DA Davidson dropped their target price on shares of Zillow Group from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Sanford C. Bernstein cut shares of Zillow Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $50.00 to $38.00 in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $52.29.

Trending Headlines about Zillow Group

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

• Neutral Sentiment: CEO Jeremy Wacksman sold a combined 15,125 shares for approximately $517,320 across August 13 and August 17. Because the sales were planned and tax-related, they provide limited evidence of a change in his outlook on Zillow. CEO Form 4 filing
• Neutral Sentiment: CFO Jeremy Hofmann sold 9,171 shares worth approximately $313,675 over the same two dates. He retained a substantial position, and the stated purpose was tax withholding rather than discretionary selling. CFO Form 4 filing
• Negative Sentiment: Additional sales by Dan Spaulding, Errol G. Samuelson, Jennifer Rock and David A. Beitel totaled 11,077 shares and approximately $382,857. The breadth of selling across management and insiders may weigh on investor sentiment and add near-term supply, even though the transactions were tax-related and relatively small compared with their remaining holdings. Insider Form 4 filings

Institutional Trading of Zillow Group

Hedge funds have recently modified their holdings of the company. Technology Crossover Management XI Ltd. bought a new stake in shares of Zillow Group during the second quarter valued at approximately $73,694,895,000. Norges Bank bought a new position in Zillow Group in the fourth quarter worth $152,050,000. Independent Franchise Partners LLP lifted its position in Zillow Group by 1.1% in the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock worth $138,135,000 after purchasing an additional 21,862 shares during the period. M&T Bank Corp boosted its stake in Zillow Group by 38,344.0% during the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after buying an additional 1,600,097 shares in the last quarter. Finally, Tiger Global Management LLC boosted its stake in Zillow Group by 30.7% during the fourth quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock worth $69,849,000 after buying an additional 240,690 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

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.