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

Zillow Group, Inc. (NASDAQ:Z) CFO Jeremy Hofmann sold 5,501 shares of the company’s stock in a transaction that occurred 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 owned 68,315 shares in the company, valued at approximately $2,554,981. This represents a 7.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $340,481.78.

Zillow Group Stock Down 1.3%

Shares of Zillow Group stock traded down $0.49 during trading on Monday, hitting $37.17. 4,276,990 shares of the company were exchanged, compared to its average volume of 4,084,120. Zillow Group, Inc. has a fifty-two week low of $36.76 and a fifty-two week high of $93.88. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 148.68, a P/E/G ratio of 1.76 and a beta of 2.07. The firm has a 50 day moving average price of $42.97 and a 200 day moving average price of $57.12.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data 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. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.10 million. Analysts predict that Zillow Group, Inc. will post 0.82 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on Z. JPMorgan Chase & Co. reduced their price target on Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings upgraded Zillow Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a report on Wednesday, February 11th. Zacks Research raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Finally, Zelman & Associates upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $79.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in Z. Jain Global LLC purchased a new position in shares of Zillow Group in the 3rd quarter worth about $6,220,000. Rakuten Investment Management Inc. purchased a new position in shares of Zillow Group in the 3rd quarter worth about $2,919,000. Coronation Fund Managers Ltd. purchased a new position in shares of Zillow Group in the 3rd quarter worth about $18,141,000. Y Intercept Hong Kong Ltd raised its holdings in shares of Zillow Group by 63.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 85,210 shares of the financial services provider’s stock worth $6,565,000 after purchasing an additional 32,975 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Zillow Group by 0.3% during the third quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider’s stock worth $1,777,841,000 after purchasing an additional 71,336 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.