Jeremy Hofmann Sells 7,786 Shares of Zillow Group (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 7,786 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $43.73, for a total transaction of $340,481.78. Following the completion of the transaction, the chief financial officer owned 57,487 shares in the company, valued at $2,513,906.51. The trade was a 11.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Jeremy Hofmann also recently made the following trade(s):

• On Thursday, February 12th, Jeremy Hofmann sold 5,538 shares of Zillow Group stock. The stock was sold at an average price of $44.22, for a total transaction of $244,890.36.

Zillow Group Price Performance

NASDAQ:ZG traded up $0.93 during mid-day trading on Wednesday, reaching $44.92. 1,654,557 shares of the company’s stock traded hands, compared to its average volume of 1,153,542. The company has a 50 day moving average price of $63.70 and a 200-day moving average price of $71.27. The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of 499.17, a PEG ratio of 3.21 and a beta of 2.04. Zillow Group, Inc. has a 12-month low of $42.25 and a 12-month high of $90.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Tuesday, February 10th. The technology company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The business had revenue of $654.00 million during the quarter, compared to the consensus estimate of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.Zillow Group’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. As a group, analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current year.

Analyst Ratings Changes

ZG has been the topic of a number of research reports. Citizens Jmp cut their target price on shares of Zillow Group from $90.00 to $85.00 and set a “market outperform” rating on the stock in a research note on Monday, January 12th. Benchmark reissued a “buy” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Cantor Fitzgerald cut their price objective on shares of Zillow Group from $68.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, February 11th. KeyCorp dropped their price target on Zillow Group from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Finally, BNP Paribas Exane initiated coverage on Zillow Group in a research note on Wednesday, January 14th. They set an “outperform” rating and a $85.00 price objective for the company. Fourteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $78.05.

Zillow Group News Summary

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

• Positive Sentiment: Senior insiders still retain sizable stakes after the sales (CEO Jeremy Wacksman ~116k shares, CFO Jeremy Hofmann ~65k, director/insider Dan Spaulding ~41k), which supports continued alignment with shareholders. Read More.
• Neutral Sentiment: The transactions were disclosed via routine SEC Form 4 filings and not accompanied by any company guidance change or corporate announcement. Read More.
• Negative Sentiment: CEO Jeremy Wacksman sold a total of 18,390 shares across Feb. 12 and Feb. 17 at roughly a $44.20 average (~$813.5k proceeds), trimming his reported ownership — executive-level sales at this scale can be interpreted negatively by investors. Read More.
• Negative Sentiment: CFO Jeremy Hofmann sold 5,538 shares on Feb. 12 at an average $44.22 (~$244.9k), reducing his stake by ~7.8% — another senior-level sale that may pressure near-term sentiment. Read More.
• Negative Sentiment: Director/insider Dan Spaulding sold a combined 9,262 shares across Feb. 12 and Feb. 17 at ~ $44.07 average (~$408k), lowering his holding to ~41.1k shares — further insider selling from leadership. Read More.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Zillow Group in the second quarter worth approximately $159,770,000. MFG Wealth Management Inc. bought a new position in Zillow Group during the third quarter valued at approximately $1,493,000. Y Intercept Hong Kong Ltd purchased a new stake in Zillow Group in the third quarter worth approximately $1,443,000. ABC Arbitrage SA grew its position in Zillow Group by 390.1% in the 2nd quarter. ABC Arbitrage SA now owns 31,227 shares of the technology company’s stock worth $2,139,000 after purchasing an additional 24,856 shares during the period. Finally, TD Asset Management Inc purchased a new stake in Zillow Group during the 2nd quarter valued at $262,000. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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.