Insider Selling: Zillow Group (NASDAQ:Z) CEO Sells $331,490.88 in Stock

Zillow Group, Inc. (NASDAQ:Z) CEO Jeremy Wacksman sold 9,072 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $36.54, for a total value of $331,490.88. Following the completion of the sale, the chief executive officer directly owned 153,699 shares of the company’s stock, valued at approximately $5,616,161.46. This represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, May 14th, Jeremy Wacksman sold 6,051 shares of Zillow Group stock. The shares were sold at an average price of $37.92, for a total value of $229,453.92.

Zillow Group Stock Down 1.7%

Shares of Zillow Group stock opened at $35.44 on Friday. The firm has a market cap of $8.11 billion, a P/E ratio of 141.76, a P/E/G ratio of 1.54 and a beta of 2.07. Zillow Group, Inc. has a fifty-two week low of $34.70 and a fifty-two week high of $93.88. The business has a 50-day moving average price of $41.53 and a 200 day moving average price of $54.77.

Zillow Group (NASDAQ:Z) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.43 by $0.10. The company had revenue of $708.00 million during the quarter, compared to analyst estimates of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. As a group, equities research analysts anticipate that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC bought a new position in Zillow Group in the 3rd quarter worth approximately $27,000. Pilgrim Partners Asia Pte Ltd bought a new position in Zillow Group in the 3rd quarter worth approximately $29,000. V Square Quantitative Management LLC bought a new position in Zillow Group in the 4th quarter worth approximately $28,000. Cullen Frost Bankers Inc. grew its holdings in Zillow Group by 58.6% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock worth $34,000 after buying an additional 163 shares in the last quarter. Finally, Pittenger & Anderson Inc. grew its holdings in Zillow Group by 32.8% in the 3rd quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock worth $42,000 after buying an additional 135 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on Z. Zelman & Associates raised Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. reduced their price target on shares of Zillow Group from $84.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Keefe, Bruyette & Woods reduced their price target on shares of Zillow Group from $60.00 to $50.00 and set a “market perform” rating for the company in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, UBS Group reduced their price target on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Zillow Group Company Profile

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.