Zillow Group (NASDAQ:Z) CEO Jeremy Wacksman Sells 6,051 Shares

Zillow Group, Inc. (NASDAQ:Z) CEO Jeremy Wacksman sold 6,051 shares of Zillow Group stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $37.92, for a total value of $229,453.92. Following the sale, the chief executive officer directly owned 162,771 shares of the company’s stock, valued at approximately $6,172,276.32. The trade was a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 Tuesday, February 17th, Jeremy Wacksman sold 13,661 shares of Zillow Group stock. The stock was sold at an average price of $44.25, for a total value of $604,499.25.

Zillow Group Trading Up 0.8%

NASDAQ:Z opened at $37.66 on Friday. The stock has a market cap of $8.62 billion, a P/E ratio of 150.64, a PEG ratio of 1.75 and a beta of 2.07. The stock has a 50 day simple moving average of $42.97 and a 200 day simple moving average of $57.26. Zillow Group, Inc. has a 1-year low of $36.76 and a 1-year high of $93.88.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.10. The business had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. As a group, sell-side analysts forecast that Zillow Group, Inc. will post 0.82 EPS for the current year.

Key Stories Impacting Zillow Group

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

• Positive Sentiment: Zillow published new survey data supporting its marketplace strategy, showing most soon-to-be sellers prefer broad public exposure over private listing networks. The findings reinforce Zillow’s argument that full-market visibility and real-time demand signals help sellers achieve better outcomes. Article Title
• Neutral Sentiment: Zillow CEO Jeremy Wacksman was featured in an interview about the company’s evolution from a desktop-only search engine into a major real-estate app. The article is more of a branding/strategy profile than a near-term financial catalyst. Article Title
• Negative Sentiment: General Counsel Bradley D. Owens sold shares on May 14 and May 15, though the trades were made under a pre-arranged Rule 10b5-1 plan and were tied to tax withholding from vesting equity awards. Insider sales can still weigh on sentiment when the stock is already under legal scrutiny.
• Negative Sentiment: Several plaintiff-side law firms announced investigations into Zillow, increasing the risk of distraction, legal costs, and possible headline pressure on the shares. Article Title

Institutional Investors Weigh In On Zillow Group

Hedge funds have recently modified their holdings of the company. Root Financial Partners LLC acquired a new stake in shares of Zillow Group during the 3rd quarter valued at $27,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Zillow Group during the 3rd quarter valued at $29,000. V Square Quantitative Management LLC acquired a new stake in shares of Zillow Group during the 4th quarter valued at $28,000. Cullen Frost Bankers Inc. boosted its holdings in shares of Zillow Group by 58.6% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 163 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its holdings in shares of Zillow Group by 32.8% during the 3rd quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 135 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on Z. Barclays upgraded Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. Weiss Ratings raised Zillow Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. Keefe, Bruyette & Woods dropped their price objective on Zillow Group from $60.00 to $50.00 and set a “market perform” rating for the company in a report on Thursday, May 7th. Zelman & Associates raised Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Finally, Wall Street Zen raised Zillow Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.75.

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.