Zillow Group (NASDAQ:Z) CEO Sells $198,112.64 in Stock

Zillow Group, Inc. (NASDAQ:Z) CEO Jeremy Wacksman sold 5,786 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total value of $198,112.64. Following the sale, the chief executive officer owned 147,913 shares of the company’s stock, valued at $5,064,541.12. This trade represents a 3.76% decrease in their position. The sale was disclosed in a 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 shares were sold at an average price of $34.18, for a total value 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

Shares of Z stock traded down $1.06 on Monday, hitting $33.72. The stock had a trading volume of 5,034,691 shares, compared to its average volume of 4,238,369. Zillow Group, Inc. has a 12-month low of $29.23 and a 12-month high of $93.88. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 153.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.98. The business has a 50 day moving average of $32.91 and a 200 day moving average of $40.19.

Zillow Group (NASDAQ:Z) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The firm had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. As a group, research analysts expect that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Z has been the subject of several research analyst reports. Weiss Ratings lowered Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Zacks Research lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Keefe, Bruyette & Woods decreased their price objective on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating for the company in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price objective 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, 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. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned 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 target price of $66.75.

Institutional Trading of Zillow Group

Several hedge funds have recently made changes to their positions in the company. IFC & Insurance Marketing Inc. bought a new position in shares of Zillow Group during the 4th quarter worth $68,000. SBI Okasan Asset Management Co.Ltd. bought a new stake in Zillow Group in the 4th quarter valued at about $71,000. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in Zillow Group by 34.5% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 300 shares during the period. Advisory Services Network LLC purchased a new stake in Zillow Group during the third quarter valued at about $99,000. Finally, Leonteq Securities AG lifted its holdings in Zillow Group by 627.0% during the first quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,160 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

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.