Zillow Group (NASDAQ:Z) CFO Jeremy Hofmann Sells 3,510 Shares of Stock

Zillow Group, Inc. (NASDAQ:Z) CFO Jeremy Hofmann sold 3,510 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $120,182.40. Following the transaction, the chief financial officer owned 64,805 shares of the company’s stock, valued at $2,218,923.20. The trade was a 5.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 Hofmann also recently made the following trade(s):

• On Monday, August 17th, Jeremy Hofmann sold 5,661 shares of Zillow Group stock. The shares were sold at an average price of $34.18, for a total transaction of $193,492.98.

Zillow Group Price Performance

Shares of NASDAQ:Z opened at $33.72 on Tuesday. The company’s 50-day moving average price is $32.89 and its two-hundred day moving average price is $39.95. Zillow Group, Inc. has a one year low of $29.23 and a one year high of $93.88. The stock has a market capitalization of $7.58 billion, a PE ratio of 153.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.98.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. The company had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. On average, analysts anticipate that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Key Headlines Impacting 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, while retaining 138,574 shares after the latest sale. The transactions reduced his holdings but were explicitly tied to tax obligations under a pre-arranged plan. CEO Form 4 filing
• Neutral Sentiment: CFO Jeremy Hofmann sold 9,171 shares worth about $313,675 across two transactions and continued to own 59,144 shares. The sales were also conducted under a 10b5-1 plan for tax withholding. CFO Form 4 filing
• Negative Sentiment: Several additional executives and insiders sold shares, bringing reported sales to 35,373 shares worth approximately $1.21 million. Dan Spaulding, Errol G. Samuelson, Jennifer Rock and David A. Beitel all reduced their holdings, creating a potentially negative near-term sentiment signal because of the number of insiders selling at roughly $34.24–$35.37 per share. The tax-related purpose substantially reduces the bearish significance. Insider Form 4 filings

Hedge Funds Weigh In On Zillow Group

A number of institutional investors have recently bought and sold shares of the business. Empowered Funds LLC increased its holdings in shares of Zillow Group by 4.7% in the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 171 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Zillow Group by 3.0% during the 4th quarter. CIBC Asset Management Inc now owns 7,550 shares of the financial services provider’s stock valued at $515,000 after acquiring an additional 220 shares during the period. B. Metzler seel. Sohn & Co. AG lifted its position in shares of Zillow Group by 6.9% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 3,923 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 252 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Zillow Group by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 55,410 shares of the financial services provider’s stock worth $4,269,000 after purchasing an additional 259 shares in the last quarter. Finally, Motley Fool Asset Management LLC grew its holdings in shares of Zillow Group by 7.2% during the 4th quarter. Motley Fool Asset Management LLC now owns 4,194 shares of the financial services provider’s stock worth $286,000 after purchasing an additional 281 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wall Street Zen lowered Zillow Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Jefferies Financial Group cut their price objective on Zillow Group from $75.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Sanford C. Bernstein cut shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. lowered their target price on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Finally, UBS Group dropped their price target on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Zillow Group has a consensus rating of “Moderate Buy” and a consensus target price of $66.75.

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.