Insider Selling: Zillow Group (NASDAQ:ZG) CFO Sells $244,890.36 in Stock

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 5,538 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $44.22, for a total value of $244,890.36. Following the transaction, the chief financial officer directly owned 65,273 shares in the company, valued at $2,886,372.06. This trade represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Jeremy Hofmann also recently made the following trade(s):

• 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 Trading Up 1.4%

Shares of Zillow Group stock opened at $45.54 on Friday. Zillow Group, Inc. has a 12-month low of $42.25 and a 12-month high of $90.22. The company has a market cap of $11.02 billion, a P/E ratio of 506.06, a PEG ratio of 2.51 and a beta of 2.04. The company’s fifty day simple moving average is $62.57 and its two-hundred day simple moving average is $70.91.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Tuesday, February 10th. The technology company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). The company had revenue of $654.00 million during the quarter, compared to analysts’ expectations of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. Analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. UBS Group set a $80.00 price target on Zillow Group in a research note on Wednesday, February 11th. Mizuho set a $65.00 price objective on Zillow Group in a report on Wednesday, February 11th. DA Davidson set a $75.00 target price on shares of Zillow Group in a report on Thursday, February 12th. Finally, Robert W. Baird set a $67.00 target price on shares of Zillow Group in a research report on Wednesday, February 11th. Fourteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.05.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors have recently modified their holdings of ZG. Norges Bank purchased a new stake in shares of Zillow Group during the 2nd quarter valued at about $159,770,000. MFG Wealth Management Inc. bought a new position in Zillow Group during the third quarter valued at approximately $1,493,000. Y Intercept Hong Kong Ltd purchased a new stake in Zillow Group in the third quarter worth approximately $1,443,000. ABC Arbitrage SA grew its position in Zillow Group by 390.1% in the 2nd quarter. ABC Arbitrage SA now owns 31,227 shares of the technology company’s stock worth $2,139,000 after purchasing an additional 24,856 shares during the period. Finally, TD Asset Management Inc purchased a new stake in Zillow Group during the 2nd quarter valued at $262,000. 20.32% of the stock is owned by hedge funds and other institutional investors.

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.