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

Zillow Group, Inc. (NASDAQ:Z) CEO Jeremy Wacksman sold 6,051 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $37.92, for a total transaction of $229,453.92. Following the transaction, the chief executive officer directly owned 162,771 shares in the company, valued at $6,172,276.32. This trade represents a 3.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $44.25, for a total transaction of $604,499.25.

Zillow Group Stock Performance

NASDAQ Z opened at $37.66 on Friday. The company has a market capitalization of $8.62 billion, a price-to-earnings ratio of 150.64, a price-to-earnings-growth ratio of 1.76 and a beta of 2.07. The company’s 50-day simple moving average is $42.97 and its two-hundred day simple moving average is $57.26. Zillow Group, Inc. has a one year low of $36.76 and a one year high of $93.88.

Zillow Group (NASDAQ:Z) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The business had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.10 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. Equities analysts expect that Zillow Group, Inc. will post 0.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on Z. JPMorgan Chase & Co. cut their price objective on shares of Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Keefe, Bruyette & Woods cut their price objective on shares of Zillow Group from $60.00 to $50.00 and set a “market perform” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings raised shares of Zillow Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Finally, Zacks Research raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Zillow Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its position in Zillow Group by 106.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 41,519 shares of the financial services provider’s stock worth $1,718,000 after purchasing an additional 21,439 shares during the last quarter. Quantinno Capital Management LP grew its position in Zillow Group by 455.6% during the 1st quarter. Quantinno Capital Management LP now owns 641,618 shares of the financial services provider’s stock worth $26,550,000 after purchasing an additional 526,142 shares during the last quarter. SummitTX Capital L.P. grew its position in Zillow Group by 226.9% during the 1st quarter. SummitTX Capital L.P. now owns 20,498 shares of the financial services provider’s stock worth $848,000 after purchasing an additional 14,227 shares during the last quarter. Weiss Asset Management LP purchased a new stake in Zillow Group during the 1st quarter worth approximately $1,743,000. Finally, OMERS ADMINISTRATION Corp grew its position in Zillow Group by 27.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 8,249 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 1,801 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group News Summary

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

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.