Insider Selling: Zillow Group (NASDAQ:Z) CEO Sells $319,207.02 in Stock

Zillow Group, Inc. (NASDAQ:Z) CEO Jeremy Wacksman sold 9,339 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $319,207.02. Following the transaction, the chief executive officer directly owned 138,574 shares in the company, valued at approximately $4,736,459.32. This trade represents a 6.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Wacksman also recently made the following trade(s):

• On Thursday, August 13th, Jeremy Wacksman sold 5,786 shares of Zillow Group stock. The shares were sold at an average price of $34.24, for a total value of $198,112.64.
• On Friday, May 22nd, Jeremy Wacksman sold 9,072 shares of Zillow Group stock. The stock was sold at an average price of $36.54, for a total value of $331,490.88.

Zillow Group Stock Performance

Z traded down $1.06 during trading hours on Monday, reaching $33.72. The company’s stock had a trading volume of 5,034,691 shares, compared to its average volume of 4,238,369. Zillow Group, Inc. has a 52 week low of $29.23 and a 52 week high of $93.88. The company’s 50-day moving average is $32.91 and its 200-day moving average is $40.19. The firm has a market cap of $7.72 billion, a PE ratio of 153.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.98.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.10 million. Equities analysts anticipate that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on Z. Jefferies Financial Group reduced their target price on shares of Zillow Group from $75.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. UBS Group cut their price objective on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. JPMorgan Chase & Co. reduced their price objective on Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft decreased their target price on Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Wall Street Zen lowered Zillow Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Zillow Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.75.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in Z. M&T Bank Corp acquired a new stake in shares of Zillow Group during the 4th quarter worth $196,677,000. Scge Management L.P. acquired a new position in Zillow Group in the third quarter valued at about $133,990,000. L1 Capital Pty Ltd lifted its position in Zillow Group by 24,803.7% during the fourth quarter. L1 Capital Pty Ltd now owns 1,729,313 shares of the financial services provider’s stock worth $117,974,000 after purchasing an additional 1,722,369 shares during the period. Tiger Global Management LLC lifted its position in Zillow Group by 21.7% during the first quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock worth $304,927,000 after purchasing an additional 1,312,000 shares during the period. Finally, Soma Equity Partners LP grew its stake in Zillow Group by 389.5% during the third quarter. Soma Equity Partners LP now owns 1,468,492 shares of the financial services provider’s stock worth $113,147,000 after buying an additional 1,168,492 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

Zillow Group Company Profile

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.