Insider Selling: Zillow Group (NASDAQ:ZG) CEO Sells $331,490.88 in Stock

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 9,072 shares of Zillow Group stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $36.54, for a total value of $331,490.88. Following the completion of the transaction, the chief executive officer owned 153,699 shares in the company, valued at $5,616,161.46. The trade was a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 Stock Performance

Zillow Group stock opened at $35.80 on Friday. The business’s 50-day simple moving average is $41.67 and its 200-day simple moving average is $54.28. The firm has a market capitalization of $8.19 billion, a PE ratio of 143.20, a PEG ratio of 1.55 and a beta of 2.04. Zillow Group, Inc. has a 52 week low of $35.11 and a 52 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 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The business had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share. Research analysts forecast that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Weiss Ratings downgraded Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Evercore reissued an “outperform” rating on shares of Zillow Group in a research report on Tuesday, March 17th. Wells Fargo & Company cut their target price on Zillow Group from $60.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Sanford C. Bernstein upgraded Zillow Group from an “outperform” rating to a “buy” rating in a research note on Tuesday. Finally, DA Davidson set a $75.00 target price on Zillow Group in a research note on Thursday, February 12th. Thirteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $71.24.

Institutional Investors Weigh In On Zillow Group

Large investors have recently modified their holdings of the stock. Aberdeen Group plc bought a new stake in shares of Zillow Group in the 3rd quarter valued at approximately $2,529,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Zillow Group in the 3rd quarter worth approximately $1,443,000. Tabor Asset Management LP acquired a new position in shares of Zillow Group in the 3rd quarter worth approximately $2,428,000. M&T Bank Corp boosted its holdings in shares of Zillow Group by 38,344.0% in the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after acquiring an additional 1,600,097 shares in the last quarter. Finally, Emmett Investment Management LP acquired a new position in shares of Zillow Group in the 3rd quarter worth approximately $2,860,000. 20.32% of the stock is currently owned by institutional investors.

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.