Insider Selling: Zillow Group (NASDAQ:Z) CEO Sells $319,207.02 in Stock

Zillow Group, Inc. (NASDAQ:Z) CEO Jeremy Wacksman sold 9,339 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.18, for a total value of $319,207.02. Following the transaction, the chief executive officer directly owned 138,574 shares of the company’s stock, valued at $4,736,459.32. The trade was a 6.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Thursday, August 13th, Jeremy Wacksman sold 5,786 shares of Zillow Group stock. The stock was sold at an average price of $34.24, for a total value of $198,112.64.
• 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 value of $331,490.88.

Zillow Group Stock Performance

Shares of Z stock opened at $36.58 on Thursday. Zillow Group, Inc. has a fifty-two week low of $29.23 and a fifty-two week high of $93.88. The stock’s fifty day moving average is $32.92 and its two-hundred day moving average is $39.52. The firm has a market capitalization of $8.23 billion, a P/E ratio of 166.28, a PEG ratio of 1.50 and a beta of 1.98.

Zillow Group (NASDAQ:Z) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $772.00 million during the quarter, compared to analysts’ expectations of $758.10 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. On average, equities analysts forecast that Zillow Group, Inc. will post 0.89 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on Z shares. Morgan Stanley set a $60.00 price objective on Zillow Group in a research report on Thursday, August 6th. Weiss Ratings cut shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a report on Friday, May 8th. JPMorgan Chase & Co. cut their price objective on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Finally, Evercore lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.75.

Institutional Trading of Zillow Group

Several institutional investors and hedge funds have recently bought and sold shares of Z. Assenagon Asset Management S.A. boosted its stake in Zillow Group by 11.9% during the second quarter. Assenagon Asset Management S.A. now owns 303,930 shares of the financial services provider’s stock worth $9,580,000 after buying an additional 32,387 shares during the period. Arlington Partners LLC raised its stake in shares of Zillow Group by 22.5% in the 2nd quarter. Arlington Partners LLC now owns 7,235 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 1,327 shares during the period. CX Institutional acquired a new position in shares of Zillow Group in the 2nd quarter worth approximately $110,000. NewEdge Advisors LLC boosted its position in shares of Zillow Group by 2.0% during the 1st quarter. NewEdge Advisors LLC now owns 38,052 shares of the financial services provider’s stock worth $1,575,000 after purchasing an additional 750 shares during the period. Finally, Centaurus Financial Inc. acquired a new stake in Zillow Group in the 1st quarter valued at approximately $166,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

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.