Zillow Group (NASDAQ:ZG) CFO Sells $205,737.40 in Stock

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 5,501 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $37.40, for a total value of $205,737.40. Following the completion of the sale, the chief financial officer owned 68,315 shares in the company, valued at $2,554,981. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Hofmann also recently made the following trade(s):

• On Thursday, May 14th, Jeremy Hofmann sold 3,671 shares of Zillow Group stock. The shares were sold at an average price of $37.93, for a total value of $139,241.03.
• 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 value of $340,481.78.

Zillow Group Stock Performance

Shares of ZG stock opened at $36.92 on Thursday. The stock’s fifty day moving average is $42.45 and its 200-day moving average is $55.72. The stock has a market capitalization of $8.45 billion, a PE ratio of 147.68, a PEG ratio of 1.56 and a beta of 2.04. Zillow Group, Inc. has a 52 week low of $35.11 and a 52 week high of $90.22.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.43 by $0.10. The company had revenue of $708.00 million for the quarter, compared to analysts’ expectations of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, analysts forecast that Zillow Group, Inc. will post 0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zillow Group

Several large investors have recently made changes to their positions in ZG. Norges Bank acquired a new position in Zillow Group in the fourth quarter valued at about $152,050,000. M&T Bank Corp lifted its stake in Zillow Group by 38,344.0% in the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after buying an additional 1,600,097 shares during the period. UBS Group AG lifted its stake in Zillow Group by 44.5% in the fourth quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after buying an additional 313,643 shares during the period. Tiger Global Management LLC lifted its stake in Zillow Group by 30.7% in the fourth quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock valued at $69,849,000 after buying an additional 240,690 shares during the period. Finally, Virtu Financial LLC lifted its stake in Zillow Group by 271.9% in the third quarter. Virtu Financial LLC now owns 293,718 shares of the technology company’s stock valued at $21,864,000 after buying an additional 214,743 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

More Zillow Group News

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Jefferies said stronger April housing data could benefit Zillow Group by supporting improved transaction growth in the second quarter, which may help revenue trends if housing activity continues to recover. Zillow seen benefiting from stronger April housing data, says Jefferies
• Positive Sentiment: Zacks highlighted Zillow Group as a top-ranked growth stock, reinforcing that some market participants still view the company’s fundamentals and growth profile favorably. Zillow Group (ZG) is a Top-Ranked Growth Stock: Should You Buy?
• Neutral Sentiment: Insider Dan Spaulding sold shares under a pre-arranged trading plan to cover tax withholding obligations, which is not necessarily a bearish signal but can still weigh on sentiment. Dan Spaulding Sells 2,056 Shares of Zillow Group (NASDAQ:ZG) Stock
• Negative Sentiment: Zillow is facing multiple securities-fraud investigation notices from law firms, creating legal uncertainty and potential headline risk for shareholders. Rosen Law Firm Encourages Zillow Group, Inc. Investors to Inquire About Securities Class Action Investigation – Z, ZG
• Negative Sentiment: Reports that a Midwest listings site suspended its data feed to Zillow suggest possible disruption to Zillow’s listing supply, which could hurt the core marketplace model if the issue spreads. Midwest listings site suspends its data feed to Zillow

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ZG shares. KeyCorp decreased their target price on Zillow Group from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. UBS Group decreased their target price on Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 target price on shares of Zillow Group in a report on Tuesday, April 28th. Finally, Barclays decreased their target price on Zillow Group from $58.00 to $54.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Thirteen 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” 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.