Zillow Group (NASDAQ:ZG) CEO Jeremy Wacksman Sells 6,051 Shares

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 6,051 shares of the business’s 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 approximately $6,172,276.32. This represents a 3.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 Performance

Zillow Group stock opened at $38.06 on Friday. The stock’s 50 day simple moving average is $42.99 and its two-hundred day simple moving average is $56.54. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of 152.24, a PEG ratio of 1.77 and a beta of 2.04. Zillow Group, Inc. has a fifty-two week low of $37.26 and a fifty-two week high of $90.22.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.10. The business 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 was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. On average, analysts predict that Zillow Group, Inc. will post 0.82 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on ZG. Zacks Research raised Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 10th. Susquehanna set a $50.00 price objective on Zillow Group in a research report on Thursday, February 12th. Mizuho cut their price objective on Zillow Group from $65.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Citigroup cut their price objective on Zillow Group from $78.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Finally, Canaccord Genuity Group lowered their target price on shares of Zillow Group from $72.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.24.

More Zillow Group News

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

• Positive Sentiment: Zillow highlighted survey results showing most prospective home sellers want broad public exposure rather than private listing networks. The company said 85% of soon-to-be sellers are more likely to hire an agent who can pre-market to the broadest online audience, reinforcing Zillow’s core pitch that open-market listings benefit sellers. Article Title
• Positive Sentiment: Zillow also emphasized its data showing sellers lose money in same-agent dual agency deals and off-MLS listings, a message that could support demand for Zillow’s public-listing ecosystem and advertising tools. Article Title
• Neutral Sentiment: JPMorgan/other analyst commentary pointed to a lower price target for Zillow Group, suggesting Wall Street expectations have softened and may be limiting upside sentiment. Article Title
• Negative Sentiment: Multiple Zillow insiders, including the CEO, COO, CTO, CAO, general counsel, and another executive, sold shares this week. The company said the sales were mainly to cover tax withholding tied to vesting equity awards and some were made under a 10b5-1 plan, but the cluster of insider selling can still create a bearish overhang for investors. Article Title
• Negative Sentiment: Rosen Law Firm said it is investigating potential securities claims against Zillow, adding legal uncertainty that may be a headwind for the stock. Article Title

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Zillow Group during the 4th quarter valued at $152,050,000. Independent Franchise Partners LLP lifted its holdings in shares of Zillow Group by 1.1% during the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after buying an additional 21,862 shares during the period. M&T Bank Corp lifted its holdings in shares of Zillow Group by 38,344.0% during the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after buying an additional 1,600,097 shares during the period. Tiger Global Management LLC lifted its holdings in shares of Zillow Group by 30.7% during the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock valued at $69,849,000 after buying an additional 240,690 shares during the period. Finally, UBS Group AG lifted its holdings in shares of Zillow Group by 44.5% during the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after buying an additional 313,643 shares during the period. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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.