Zillow Group (NASDAQ:ZG) CFO Jeremy Hofmann Sells 3,671 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 3,671 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $37.93, for a total transaction of $139,241.03. Following the completion of the sale, the chief financial officer directly owned 73,816 shares of the company’s stock, valued at $2,799,840.88. This trade represents a 4.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 Hofmann also recently made the following trade(s):

• On Monday, May 18th, Jeremy Hofmann sold 5,501 shares of Zillow Group stock. The shares were sold at an average price of $37.40, for a total transaction of $205,737.40.
• On Wednesday, February 18th, Jeremy Hofmann sold 7,786 shares of Zillow Group stock. The shares were sold at an average price of $43.73, for a total transaction of $340,481.78.

Zillow Group Stock Performance

Shares of Zillow Group stock opened at $37.61 on Tuesday. Zillow Group, Inc. has a 52-week low of $37.26 and a 52-week high of $90.22. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of 150.44, a price-to-earnings-growth ratio of 1.78 and a beta of 2.04. The company has a fifty day moving average of $42.81 and a 200-day moving average of $56.17.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The company had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $705.17 million. During the same quarter in the prior year, the company earned $0.41 EPS. The firm’s revenue was up 18.4% on a year-over-year basis. On average, equities research analysts forecast that Zillow Group, Inc. will post 0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZG. Arax Advisory Partners raised its holdings in Zillow Group by 402.3% in the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after purchasing an additional 354 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Zillow Group by 78.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 187 shares in the last quarter. First Command Advisory Services Inc. bought a new position in Zillow Group in the 4th quarter worth $34,000. EverSource Wealth Advisors LLC raised its holdings in Zillow Group by 183.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after purchasing an additional 637 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in Zillow Group by 990.3% in the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock worth $42,000 after purchasing an additional 921 shares in the last quarter. 20.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ZG shares. Barclays lowered their price target on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Mizuho lowered their price target on shares of Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Zacks Research upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. Piper Sandler lowered their price target on shares of Zillow Group from $70.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Finally, The Goldman Sachs Group set a $53.00 price target on shares of Zillow Group in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Zillow Group has a consensus rating of “Moderate Buy” and an average target price of $71.24.

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.