Insider Selling: Zillow Group (NASDAQ:ZG) CFO Sells $193,492.98 in Stock

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 5,661 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the transaction, the chief financial officer owned 59,144 shares in the company, valued at $2,021,541.92. The trade was a 8.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 Thursday, August 13th, Jeremy Hofmann sold 3,510 shares of Zillow Group stock. The stock was sold at an average price of $34.24, for a total value of $120,182.40.

Zillow Group Stock Up 6.1%

Shares of ZG opened at $37.44 on Thursday. Zillow Group, Inc. has a 12-month low of $29.03 and a 12-month high of $90.22. The firm has a market capitalization of $8.42 billion, a PE ratio of 170.19, a price-to-earnings-growth ratio of 1.54 and a beta of 1.95. The stock’s fifty day simple moving average is $33.07 and its 200-day simple moving average is $39.60.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. The business had revenue of $772.00 million for the quarter, compared to analysts’ expectations of $758.25 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 earnings per share. Analysts anticipate that Zillow Group, Inc. will post 0.89 EPS for the current year.

Institutional Trading of Zillow Group

Hedge funds have recently added to or reduced their stakes in the business. Arax Advisory Partners boosted its position in shares of Zillow Group by 402.3% during the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after buying an additional 354 shares during the period. First Command Advisory Services Inc. acquired a new stake in Zillow Group in the 4th quarter valued at approximately $34,000. EverSource Wealth Advisors LLC lifted its stake in Zillow Group by 183.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after acquiring an additional 637 shares in the last quarter. Fifth Third Bancorp lifted its stake in Zillow Group by 990.3% in the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock valued at $42,000 after acquiring an additional 921 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Zillow Group during the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ZG shares. Citizens Jmp lowered their price target on shares of Zillow Group from $75.00 to $46.00 and set a “market outperform” rating for the company in a research report on Friday, August 7th. KeyCorp cut their price objective on shares of Zillow Group from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Piper Sandler reduced their price objective on shares of Zillow Group from $55.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Susquehanna lowered their target price on shares of Zillow Group from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Finally, Evercore set a $40.00 target price on shares of Zillow Group and gave the stock an “in-line” rating in a report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Zillow Group has an average rating of “Hold” and an average price target of $52.29.

About Zillow Group

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.