Zillow Group (NASDAQ:Z) CEO Sells $331,490.88 in Stock

Zillow Group, Inc. (NASDAQ:Z) CEO Jeremy Wacksman sold 9,072 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $36.54, for a total transaction of $331,490.88. Following the completion of the transaction, the chief executive officer directly owned 153,699 shares in the company, valued at $5,616,161.46. This trade represents a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 stock was sold at an average price of $37.92, for a total transaction of $229,453.92.

Zillow Group Trading Down 1.7%

Shares of Z traded down $0.60 on Tuesday, reaching $35.74. The company’s stock had a trading volume of 3,805,568 shares, compared to its average volume of 4,091,866. Zillow Group, Inc. has a twelve month low of $34.70 and a twelve month high of $93.88. The stock has a market capitalization of $8.18 billion, a PE ratio of 142.96, a PEG ratio of 1.55 and a beta of 2.07. The firm has a fifty day moving average of $42.00 and a 200-day moving average of $55.55.

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

Analyst Ratings Changes

Z has been the topic of several recent analyst reports. Keefe, Bruyette & Woods dropped their price objective on Zillow Group from $60.00 to $50.00 and set a “market perform” rating on the stock in a research note on Thursday, May 7th. Zelman & Associates upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. UBS Group cut their price target on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Zillow Group from $84.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.00.

Institutional Investors Weigh In On Zillow Group

Several large investors have recently made changes to their positions in the business. Jain Global LLC purchased a new stake in shares of Zillow Group during the 3rd quarter worth approximately $6,220,000. Coronation Fund Managers Ltd. purchased a new position in Zillow Group in the third quarter valued at approximately $18,141,000. Vanguard Group Inc. lifted its stake in Zillow Group by 0.3% in the third quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider’s stock valued at $1,777,841,000 after purchasing an additional 71,336 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Zillow Group by 228.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 470,288 shares of the financial services provider’s stock worth $32,083,000 after buying an additional 327,076 shares during the last quarter. Finally, Hidden Lake Asset Management LP purchased a new stake in Zillow Group in the third quarter worth $4,127,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

About Zillow Group

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.