Insider Selling: Zillow Group (NASDAQ:Z) CEO Sells 6,051 Shares of Stock

Zillow Group, Inc. (NASDAQ:Z) CEO Jeremy Wacksman sold 6,051 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $37.92, for a total value of $229,453.92. Following the transaction, the chief executive officer owned 162,771 shares in the company, valued at $6,172,276.32. This trade represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 Tuesday, February 17th, Jeremy Wacksman sold 13,661 shares of Zillow Group stock. The shares were sold at an average price of $44.25, for a total value of $604,499.25.

Zillow Group Stock Up 0.8%

Shares of Zillow Group stock traded up $0.29 during trading on Friday, hitting $37.66. 3,075,721 shares of the stock traded hands, compared to its average volume of 4,082,034. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 150.64, a PEG ratio of 1.80 and a beta of 2.07. The firm’s fifty day moving average is $43.14 and its 200-day moving average is $57.40. Zillow Group, Inc. has a 52 week low of $36.76 and a 52 week high of $93.88.

Zillow Group (NASDAQ:Z) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share 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 analysts’ expectations of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. On average, analysts forecast that Zillow Group, Inc. will post 0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Weiss Asset Management LP bought a new position in shares of Zillow Group in the 1st quarter worth approximately $1,743,000. OMERS ADMINISTRATION Corp raised its position in shares of Zillow Group by 27.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 8,249 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 1,801 shares in the last quarter. Tiger Global Management LLC raised its position in shares of Zillow Group by 21.7% in the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock worth $304,927,000 after acquiring an additional 1,312,000 shares in the last quarter. Inceptionr LLC bought a new position in shares of Zillow Group in the 1st quarter worth approximately $222,000. Finally, Capula Management Ltd raised its position in shares of Zillow Group by 7,656.3% in the 1st quarter. Capula Management Ltd now owns 57,352 shares of the financial services provider’s stock worth $2,373,000 after acquiring an additional 58,111 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Zacks Research upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. dropped their target price on Zillow Group from $84.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a report on Wednesday, February 11th. Barclays upgraded Zillow Group from a “strong sell” rating to a “hold” rating in a report on Thursday, January 29th. Finally, Keefe, Bruyette & Woods dropped their target price on Zillow Group from $60.00 to $50.00 and set a “market perform” rating for the company in a report on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.75.

Zillow Group News Roundup

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Zillow published new survey data supporting its marketplace strategy, showing most soon-to-be sellers prefer broad public exposure over private listing networks. The findings reinforce Zillow’s argument that full-market visibility and real-time demand signals help sellers achieve better outcomes. Article Title
• Neutral Sentiment: Zillow CEO Jeremy Wacksman was featured in an interview about the company’s evolution from a desktop-only search engine into a major real-estate app. The article is more of a branding/strategy profile than a near-term financial catalyst. Article Title
• Negative Sentiment: General Counsel Bradley D. Owens sold shares on May 14 and May 15, though the trades were made under a pre-arranged Rule 10b5-1 plan and were tied to tax withholding from vesting equity awards. Insider sales can still weigh on sentiment when the stock is already under legal scrutiny.
• Negative Sentiment: Several plaintiff-side law firms announced investigations into Zillow, increasing the risk of distraction, legal costs, and possible headline pressure on the shares. Article Title

About Zillow Group

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.