Zillow Group (NASDAQ:ZG) CFO Jeremy Hofmann Sells 5,538 Shares

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 5,538 shares of Zillow Group stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $44.22, for a total value of $244,890.36. Following the completion of the transaction, the chief financial officer owned 65,273 shares of the company’s stock, valued at approximately $2,886,372.06. This trade represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Zillow Group Stock Performance

ZG stock traded up $0.69 during mid-day trading on Tuesday, reaching $43.99. The company had a trading volume of 2,704,201 shares, compared to its average volume of 1,133,974. The company has a market capitalization of $10.65 billion, a price-to-earnings ratio of 488.83, a price-to-earnings-growth ratio of 3.21 and a beta of 2.04. The firm has a fifty day simple moving average of $64.26 and a 200 day simple moving average of $71.51. Zillow Group, Inc. has a fifty-two week low of $42.25 and a fifty-two week high of $90.22.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The company had revenue of $654.00 million for the quarter, compared to analyst estimates of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 earnings per share. As a group, analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ZG shares. The Goldman Sachs Group dropped their target price on shares of Zillow Group from $78.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 11th. Piper Sandler reiterated an “overweight” rating and set a $70.00 target price (down previously from $85.00) on shares of Zillow Group in a research report on Wednesday, February 11th. Robert W. Baird set a $67.00 target price on Zillow Group in a research report on Wednesday, February 11th. Canaccord Genuity Group set a $72.00 price target on Zillow Group in a research report on Wednesday, February 11th. Finally, Cantor Fitzgerald reduced their price objective on Zillow Group from $68.00 to $56.00 and set a “neutral” rating for the company in a research note on Wednesday, February 11th. Fourteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.05.

Institutional Trading of Zillow Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arax Advisory Partners raised its holdings in Zillow Group by 402.3% during the fourth 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 stake in shares of Zillow Group by 78.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock worth $33,000 after buying an additional 187 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in shares of Zillow Group in the 4th quarter valued at approximately $34,000. Kestra Advisory Services LLC purchased a new stake in shares of Zillow Group in the fourth quarter valued at approximately $47,000. Finally, Quarry LP acquired a new position in Zillow Group during the fourth quarter worth $56,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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.