Jeremy Wacksman Sells 9,072 Shares of Zillow Group (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 9,072 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $36.54, for a total value of $331,490.88. Following the completion of the transaction, the chief executive officer owned 153,699 shares in the company, valued at $5,616,161.46. This trade represents a 5.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jeremy Wacksman also recently made the following trade(s):

• On Thursday, May 14th, Jeremy Wacksman sold 6,051 shares of Zillow Group stock. The shares were sold at an average price of $37.92, for a total value of $229,453.92.

Zillow Group Price Performance

Shares of NASDAQ ZG opened at $36.37 on Thursday. The company has a market capitalization of $8.32 billion, a P/E ratio of 145.48, a price-to-earnings-growth ratio of 1.55 and a beta of 2.04. The business’s 50-day moving average price is $41.86 and its two-hundred day moving average price is $54.53. Zillow Group, Inc. has a one year low of $35.11 and a one year high of $90.22.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.10. The company had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The firm’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS. On average, equities analysts anticipate that Zillow Group, Inc. will post 0.9 EPS for the current year.

Hedge Funds Weigh In On Zillow Group

Several large investors have recently made changes to their positions in ZG. Norges Bank acquired a new position in shares of Zillow Group during the 4th quarter worth about $152,050,000. M&T Bank Corp lifted its position in shares of Zillow Group by 38,344.0% during the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after purchasing an additional 1,600,097 shares during the last quarter. UBS Group AG lifted its position in shares of Zillow Group by 44.5% during the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock worth $69,489,000 after purchasing an additional 313,643 shares during the last quarter. Tiger Global Management LLC lifted its position in shares of Zillow Group by 30.7% during the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock worth $69,849,000 after purchasing an additional 240,690 shares during the last quarter. Finally, Virtu Financial LLC lifted its position in shares of Zillow Group by 271.9% during the 3rd quarter. Virtu Financial LLC now owns 293,718 shares of the technology company’s stock worth $21,864,000 after purchasing an additional 214,743 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company’s stock.

Analysts Set New Price Targets

ZG has been the subject of several recent analyst reports. Canaccord Genuity Group decreased their price target on Zillow Group from $72.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, May 7th. Susquehanna set a $50.00 price target on Zillow Group in a research note on Thursday, February 12th. Piper Sandler decreased their price target on Zillow Group from $70.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Benchmark reiterated a “buy” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Finally, Citigroup reiterated a “market outperform” rating on shares of Zillow Group in a research note on Tuesday. Thirteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Zillow Group has a consensus rating of “Hold” and a consensus price target of $71.24.

About Zillow Group

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.