Insider Selling: Zillow Group (NASDAQ:Z) CFO Sells $120,182.40 in Stock

Zillow Group, Inc. (NASDAQ:Z) CFO Jeremy Hofmann sold 3,510 shares of the business’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 $120,182.40. Following the sale, the chief financial officer owned 64,805 shares of the company’s stock, valued at approximately $2,218,923.20. The trade was a 5.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $193,492.98.

Zillow Group Stock Performance

NASDAQ:Z traded down $1.06 on Monday, hitting $33.72. 5,034,691 shares of the stock were exchanged, compared to its average volume of 4,238,369. Zillow Group, Inc. has a 52 week low of $29.23 and a 52 week high of $93.88. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 153.28, a P/E/G ratio of 1.51 and a beta of 1.98. The company’s 50-day moving average price is $32.91 and its 200 day moving average price is $40.19.

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

Analyst Upgrades and Downgrades

Z has been the subject of a number of analyst reports. Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Keefe, Bruyette & Woods reduced their target price on Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a report on Friday, August 7th. Sanford C. Bernstein lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Morgan Stanley set a $60.00 price target on shares of Zillow Group in a research report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.75.

Institutional Trading of Zillow Group

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in shares of Zillow Group by 106.8% in the first quarter. The Manufacturers Life Insurance Company now owns 41,519 shares of the financial services provider’s stock worth $1,718,000 after acquiring an additional 21,439 shares in the last quarter. Tiger Global Management LLC lifted its holdings in shares of Zillow Group by 21.7% during the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock valued at $304,927,000 after purchasing an additional 1,312,000 shares in the last quarter. IFP Advisors Inc grew its position in shares of Zillow Group by 17,458.4% in the 4th quarter. IFP Advisors Inc now owns 73,921 shares of the financial services provider’s stock valued at $5,043,000 after purchasing an additional 73,500 shares during the period. Emmett Investment Management LP grew its position in shares of Zillow Group by 353.9% in the 1st quarter. Emmett Investment Management LP now owns 96,236 shares of the financial services provider’s stock valued at $3,897,000 after purchasing an additional 75,036 shares during the period. Finally, Weiss Asset Management LP bought a new stake in Zillow Group during the 1st quarter worth approximately $1,743,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.