Zillow Group (NASDAQ:ZG) CEO Sells $229,453.92 in Stock

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 6,051 shares of the firm’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 sale, the chief executive officer owned 162,771 shares in the company, valued at $6,172,276.32. This trade represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $604,499.25.

Zillow Group Price Performance

Zillow Group stock traded up $0.20 during midday trading on Friday, reaching $38.06. The company had a trading volume of 1,220,724 shares, compared to its average volume of 1,107,114. The company has a market capitalization of $8.71 billion, a P/E ratio of 152.24, a P/E/G ratio of 1.82 and a beta of 2.04. Zillow Group, Inc. has a 12-month low of $37.26 and a 12-month high of $90.22. The firm’s fifty day simple moving average is $43.15 and its 200-day simple moving average is $56.67.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share 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 analyst estimates of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. Zillow Group’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the company posted $0.41 EPS. On average, analysts expect that Zillow Group, Inc. will post 0.82 EPS for the current fiscal year.

Institutional Trading of Zillow Group

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Zillow Group in the 4th quarter valued at approximately $152,050,000. Independent Franchise Partners LLP increased its holdings in Zillow Group by 1.1% in 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 purchasing an additional 21,862 shares during the last quarter. M&T Bank Corp increased its holdings in 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 valued at $120,092,000 after purchasing an additional 1,600,097 shares during the last quarter. Tiger Global Management LLC increased its holdings in Zillow Group by 30.7% in 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 purchasing an additional 240,690 shares during the last quarter. Finally, UBS Group AG increased its holdings in Zillow Group by 44.5% in the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after purchasing an additional 313,643 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

Trending Headlines about Zillow Group

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

Analyst Ratings Changes

ZG has been the topic of a number of research reports. Robert W. Baird decreased their price target on shares of Zillow Group from $67.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Susquehanna set a $50.00 price target on shares of Zillow Group in a research note on Thursday, February 12th. The Goldman Sachs Group set a $53.00 price target on shares of Zillow Group in a research note on Thursday, May 7th. Canaccord Genuity Group decreased their price target on shares of Zillow Group from $72.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, May 7th. Finally, Evercore reissued an “outperform” rating on shares of Zillow Group in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.24.

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.