Jeremy Hofmann Sells 3,671 Shares of Zillow Group (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 3,671 shares of Zillow Group stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $37.93, for a total transaction of $139,241.03. Following the transaction, the chief financial officer owned 73,816 shares in the company, valued at approximately $2,799,840.88. This trade represents a 4.74% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 Monday, May 18th, Jeremy Hofmann sold 5,501 shares of Zillow Group stock. The shares were sold at an average price of $37.40, for a total transaction of $205,737.40.
• On Wednesday, February 18th, Jeremy Hofmann sold 7,786 shares of Zillow Group stock. The shares were sold at an average price of $43.73, for a total transaction of $340,481.78.

Zillow Group Trading Down 1.2%

ZG stock traded down $0.45 during midday trading on Monday, hitting $37.61. The stock had a trading volume of 1,697,655 shares, compared to its average volume of 1,113,151. The firm has a market cap of $8.61 billion, a P/E ratio of 150.44, a price-to-earnings-growth ratio of 1.78 and a beta of 2.04. Zillow Group, Inc. has a 1-year low of $37.26 and a 1-year high of $90.22. The business has a fifty day moving average price of $42.99 and a two-hundred day moving average price of $56.42.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.10. The business had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. Zillow Group’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 earnings per share. On average, equities analysts anticipate that Zillow Group, Inc. will post 0.82 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of Zillow Group from $72.00 to $52.00 and set a “hold” rating on the stock in a report on Thursday, May 7th. Robert W. Baird decreased their target price on shares of Zillow Group from $67.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Zillow Group in a research report on Tuesday, April 28th. Zacks Research raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 10th. Finally, DA Davidson set a $75.00 target price on shares of Zillow Group in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $71.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Zillow Group in the fourth quarter valued at about $152,050,000. Independent Franchise Partners LLP boosted its stake in Zillow Group by 1.1% in the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after acquiring an additional 21,862 shares during the last quarter. M&T Bank Corp boosted its stake in Zillow Group by 38,344.0% in the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after acquiring an additional 1,600,097 shares during the last quarter. Tiger Global Management LLC boosted its stake in Zillow Group by 30.7% in the fourth quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock valued at $69,849,000 after acquiring an additional 240,690 shares during the last quarter. Finally, UBS Group AG boosted its stake in Zillow Group by 44.5% in the fourth quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after acquiring an additional 313,643 shares during 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.