Jeremy Wacksman Sells 9,072 Shares of Zillow Group (NASDAQ:Z) Stock

Zillow Group, Inc. (NASDAQ:Z) CEO Jeremy Wacksman sold 9,072 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $36.54, for a total value of $331,490.88. Following the completion of the sale, the chief executive officer owned 153,699 shares in the company, valued at $5,616,161.46. This represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 shares were sold at an average price of $37.92, for a total transaction of $229,453.92.

Zillow Group Price Performance

Shares of Z traded down $0.60 during trading hours on Tuesday, hitting $35.74. The company’s stock had a trading volume of 3,805,568 shares, compared to its average volume of 4,091,866. The company has a market cap of $8.18 billion, a price-to-earnings ratio of 142.96, a PEG ratio of 1.55 and a beta of 2.07. The business has a 50 day simple moving average of $42.00 and a two-hundred day simple moving average of $55.55. Zillow Group, Inc. has a 52-week low of $34.70 and a 52-week high of $93.88.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.10. The company had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.10 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. Research analysts predict that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Root Financial Partners LLC bought a new position in shares of Zillow Group in the third quarter worth $27,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Zillow Group in the third quarter worth $29,000. V Square Quantitative Management LLC bought a new stake in Zillow Group during the fourth quarter valued at $28,000. Cullen Frost Bankers Inc. boosted its stake in Zillow Group by 58.6% during the third quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock valued at $34,000 after buying an additional 163 shares during the period. Finally, Pittenger & Anderson Inc. increased its stake in Zillow Group by 32.8% in the 3rd quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 135 shares during the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Zelman & Associates raised Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft decreased their price objective on Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Wall Street Zen raised Zillow Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Barclays upgraded Zillow Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 29th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.00.

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.