Insider Selling: Zillow Group (NASDAQ:ZG) CEO Sells 9,072 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 9,072 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $5,616,161.46. This represents a 5.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 stock was sold at an average price of $37.92, for a total value of $229,453.92.

Zillow Group Price Performance

Shares of ZG stock traded down $0.67 on Tuesday, hitting $36.21. 1,191,397 shares of the company’s stock were exchanged, compared to its average volume of 1,116,806. Zillow Group, Inc. has a 12 month low of $35.11 and a 12 month high of $90.22. The stock has a market cap of $8.28 billion, a P/E ratio of 144.84, a price-to-earnings-growth ratio of 1.58 and a beta of 2.04. The company has a 50 day moving average of $42.09 and a 200 day moving average of $55.00.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to analysts’ expectations of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 earnings per share. Sell-side analysts predict that Zillow Group, Inc. will post 0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ZG. Robert W. Baird lowered their price objective on shares of Zillow Group from $67.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Evercore reaffirmed an “outperform” rating on shares of Zillow Group in a research note on Tuesday, March 17th. DA Davidson set a $75.00 price target on shares of Zillow Group in a report on Thursday, February 12th. Piper Sandler dropped their price target on Zillow Group from $70.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, KeyCorp reduced their price objective on Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Thirteen investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.24.

Institutional Investors Weigh In On Zillow Group

Institutional investors have recently added to or reduced their stakes in the business. Edgestream Partners L.P. bought a new position in shares of Zillow Group during the first quarter valued at $398,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Zillow Group by 183.6% during the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after purchasing an additional 637 shares during the period. Empowered Funds LLC grew its stake in shares of Zillow Group by 60.3% in the first quarter. Empowered Funds LLC now owns 10,060 shares of the technology company’s stock worth $416,000 after purchasing an additional 3,784 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Zillow Group by 106.6% in the first quarter. Quantinno Capital Management LP now owns 176,052 shares of the technology company’s stock worth $7,287,000 after purchasing an additional 90,858 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Zillow Group by 4.7% in the first quarter. Public Employees Retirement System of Ohio now owns 15,433 shares of the technology company’s stock valued at $639,000 after purchasing an additional 699 shares during the period. 20.32% of the stock is owned by institutional investors.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.