Zillow Group (NASDAQ:ZG) CEO Jeremy Wacksman Sells 9,339 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 9,339 shares of Zillow Group stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.18, for a total transaction of $319,207.02. Following the transaction, the chief executive officer directly owned 138,574 shares of the company’s stock, valued at approximately $4,736,459.32. This trade represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 Wacksman also recently made the following trade(s):

• On Thursday, August 13th, Jeremy Wacksman sold 5,786 shares of Zillow Group stock. The stock was sold at an average price of $34.24, for a total transaction of $198,112.64.
• On Friday, May 22nd, Jeremy Wacksman sold 9,072 shares of Zillow Group stock. The shares were sold at an average price of $36.54, for a total transaction of $331,490.88.

Zillow Group Stock Performance

ZG stock opened at $34.32 on Tuesday. Zillow Group, Inc. has a one year low of $29.03 and a one year high of $90.22. The firm’s fifty day moving average is $33.02 and its 200 day moving average is $40.01. The firm has a market cap of $7.85 billion, a PE ratio of 156.01, a P/E/G ratio of 1.53 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.25 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The company’s revenue was up 17.9% compared to the same quarter last year. Research analysts predict that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Key Stories Impacting Zillow Group

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

• Neutral Sentiment: CEO Jeremy Wacksman sold a combined 15,125 shares for approximately $517,320 across August 13 and August 17. Because the sales were planned and tax-related, they provide limited evidence of a change in his outlook on Zillow. CEO Form 4 filing
• Neutral Sentiment: CFO Jeremy Hofmann sold 9,171 shares worth approximately $313,675 over the same two dates. He retained a substantial position, and the stated purpose was tax withholding rather than discretionary selling. CFO Form 4 filing
• Negative Sentiment: Additional sales by Dan Spaulding, Errol G. Samuelson, Jennifer Rock and David A. Beitel totaled 11,077 shares and approximately $382,857. The breadth of selling across management and insiders may weigh on investor sentiment and add near-term supply, even though the transactions were tax-related and relatively small compared with their remaining holdings. Insider Form 4 filings

Institutional Investors Weigh In On Zillow Group

Several institutional investors have recently bought and sold shares of the company. Arax Advisory Partners increased its stake in Zillow Group by 402.3% during the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock worth $30,000 after buying an additional 354 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in shares of Zillow Group in the fourth quarter valued at approximately $34,000. EverSource Wealth Advisors LLC lifted its position in shares of Zillow Group by 183.6% in the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after acquiring an additional 637 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Zillow Group by 990.3% in the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock worth $42,000 after acquiring an additional 921 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Zillow Group in the fourth quarter worth approximately $47,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank Of Canada lowered their price target on Zillow Group from $70.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Evercore set a $40.00 price objective on Zillow Group and gave the company an “in-line” rating in a research report on Thursday, August 6th. UBS Group reduced their target price on Zillow Group from $75.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Wells Fargo & Company decreased their target price on Zillow Group from $46.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, August 7th. Finally, Canaccord Genuity Group dropped their price target on shares of Zillow Group from $52.00 to $40.00 and set a “hold” rating on the stock in a research note on Thursday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Zillow Group has a consensus rating of “Hold” and an average target price of $52.29.

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.