Zillow Group (NASDAQ:Z) CEO Jeremy Wacksman Sells 5,786 Shares

Zillow Group, Inc. (NASDAQ:Z) CEO Jeremy Wacksman sold 5,786 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $198,112.64. Following the completion of the transaction, the chief executive officer owned 147,913 shares in the company, valued at $5,064,541.12. This represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Wacksman also recently made the following trade(s):

• On Monday, August 17th, Jeremy Wacksman sold 9,339 shares of Zillow Group stock. The stock was sold at an average price of $34.18, for a total transaction of $319,207.02.
• 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 Price Performance

Shares of NASDAQ:Z opened at $33.72 on Tuesday. The company’s fifty day moving average price is $32.89 and its 200 day moving average price is $39.95. Zillow Group, Inc. has a 12 month low of $29.23 and a 12 month high of $93.88. The firm has a market capitalization of $7.58 billion, a P/E ratio of 153.28, a P/E/G ratio of 1.51 and a beta of 1.98.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. The company had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.10 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. On average, sell-side analysts anticipate that Zillow Group, Inc. will post 0.89 EPS for the current year.

Key Headlines 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, while retaining 138,574 shares after the latest sale. The transactions reduced his holdings but were explicitly tied to tax obligations under a pre-arranged plan. CEO Form 4 filing
• Neutral Sentiment: CFO Jeremy Hofmann sold 9,171 shares worth about $313,675 across two transactions and continued to own 59,144 shares. The sales were also conducted under a 10b5-1 plan for tax withholding. CFO Form 4 filing
• Negative Sentiment: Several additional executives and insiders sold shares, bringing reported sales to 35,373 shares worth approximately $1.21 million. Dan Spaulding, Errol G. Samuelson, Jennifer Rock and David A. Beitel all reduced their holdings, creating a potentially negative near-term sentiment signal because of the number of insiders selling at roughly $34.24–$35.37 per share. The tax-related purpose substantially reduces the bearish significance. Insider Form 4 filings

Institutional Trading of Zillow Group

Hedge funds have recently modified their holdings of the business. IFC & Insurance Marketing Inc. acquired a new position in Zillow Group during the fourth quarter worth $68,000. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Zillow Group in the fourth quarter valued at $71,000. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Zillow Group by 34.5% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 300 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Zillow Group during the 3rd quarter worth $99,000. Finally, Leonteq Securities AG grew its stake in shares of Zillow Group by 627.0% during the 1st quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 1,160 shares during the period. 71.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Z has been the topic of several research analyst reports. Jefferies Financial Group cut their price target on Zillow Group from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Morgan Stanley set a $60.00 target price on shares of Zillow Group in a research report on Thursday, August 6th. Keefe, Bruyette & Woods cut their target price on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Royal Bank Of Canada lowered their price objective on shares of Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Zillow Group currently has an average rating of “Moderate Buy” and a consensus price target of $66.75.

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.