Jeremy Hofmann Sells 5,501 Shares of Zillow Group (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 5,501 shares of Zillow Group stock in a transaction on Monday, May 18th. The stock was 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 directly owned 68,315 shares of the company’s stock, valued at $2,554,981. The trade was a 7.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was 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 stock was sold at an average price of $43.73, for a total value of $340,481.78.

Zillow Group Price Performance

Shares of ZG opened at $36.42 on Wednesday. Zillow Group, Inc. has a one year low of $36.17 and a one year high of $90.22. The firm has a market capitalization of $8.33 billion, a P/E ratio of 145.68, a PEG ratio of 1.61 and a beta of 2.04. The business has a fifty day moving average of $42.61 and a 200 day moving average of $55.94.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company had revenue of $708.00 million during the quarter, compared to analyst estimates of $705.17 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. Zillow Group’s revenue was up 18.4% compared to the same quarter last year. Analysts expect that Zillow Group, Inc. will post 0.9 EPS for the current fiscal year.

More Zillow Group News

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

• Positive Sentiment: Zillow’s latest earnings beat expectations, with revenue and EPS both coming in ahead of analyst forecasts, supporting the view that the business is still growing. Zillow Group stock and earnings details
• Positive Sentiment: Zillow’s rental-market research continues to generate attention, including its latest “hottest rental market” ranking for Providence, which may help brand visibility and traffic. Zillow press release on hottest rental market
• Neutral Sentiment: Several insider stock sales were disclosed, but they were executed under 10b5-1 plans and described as tax-withholding related, making them less concerning than voluntary selling. Insider trading alert for Zillow Group
• Negative Sentiment: Zillow is trying to prevent the loss of a Chicago listing feed from Midwest Real Estate Data, and any disruption to listing access could hurt its marketplace offering and user engagement. Article about Chicago listing feed dispute

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ZG shares. Barclays cut their price objective on Zillow Group from $58.00 to $54.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 price objective on shares of Zillow Group in a research note on Tuesday, April 28th. Susquehanna set a $50.00 price objective on Zillow Group in a research note on Thursday, February 12th. KeyCorp cut their price objective on Zillow Group from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, UBS Group cut their price objective on Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Thirteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $71.24.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds have recently made changes to their positions in the company. Edgestream Partners L.P. purchased a new stake in shares of Zillow Group in the first quarter worth about $398,000. 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 worth $41,000 after buying an additional 637 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Zillow Group by 60.3% in the first quarter. Empowered Funds LLC now owns 10,060 shares of the technology company’s stock worth $416,000 after buying an additional 3,784 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Zillow Group by 106.6% in the first quarter. Quantinno Capital Management LP now owns 176,052 shares of the technology company’s stock worth $7,287,000 after buying an additional 90,858 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Zillow Group by 4.7% in the first quarter. Public Employees Retirement System of Ohio now owns 15,433 shares of the technology company’s stock worth $639,000 after buying an additional 699 shares in the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

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.