Insider Selling: Zillow Group (NASDAQ:Z) CEO Sells $604,499.25 in Stock

Zillow Group, Inc. (NASDAQ:Z) CEO Jeremy Wacksman sold 13,661 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total value of $604,499.25. Following the transaction, the chief executive officer directly owned 116,322 shares of the company’s stock, valued at approximately $5,147,248.50. This trade represents a 10.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, February 12th, Jeremy Wacksman sold 4,729 shares of Zillow Group stock. The stock was sold at an average price of $44.20, for a total value of $209,021.80.

Zillow Group Price Performance

Shares of NASDAQ:Z opened at $45.55 on Friday. The business has a fifty day moving average price of $63.21 and a 200-day moving average price of $72.92. The company has a market capitalization of $11.03 billion, a PE ratio of 506.17, a PEG ratio of 2.52 and a beta of 2.08. Zillow Group, Inc. has a 1-year low of $42.50 and a 1-year high of $93.88.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). The firm had revenue of $654.00 million for the quarter, compared to analysts’ expectations of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. On average, sell-side analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Zillow Group by 0.3% in 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 buying an additional 71,336 shares during the period. Independent Franchise Partners LLP grew its stake in shares of Zillow Group by 0.9% during the 4th quarter. Independent Franchise Partners LLP now owns 10,953,405 shares of the financial services provider’s stock valued at $747,241,000 after acquiring an additional 94,569 shares during the period. Capital World Investors increased its holdings in Zillow Group by 1.8% in the 4th quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider’s stock worth $738,554,000 after acquiring an additional 191,058 shares in the last quarter. Tiger Global Management LLC raised its stake in Zillow Group by 20.1% during the 4th quarter. Tiger Global Management LLC now owns 6,056,957 shares of the financial services provider’s stock worth $413,206,000 after acquiring an additional 1,011,813 shares during the period. Finally, Ninety One UK Ltd raised its stake in Zillow Group by 2.0% during the 3rd quarter. Ninety One UK Ltd now owns 4,825,287 shares of the financial services provider’s stock worth $371,788,000 after acquiring an additional 93,339 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on Z shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a research note on Wednesday, January 21st. Zelman & Associates raised Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Barclays upgraded Zillow Group from a “strong sell” rating to a “hold” rating in a report on Thursday, January 29th. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Zillow Group from $80.00 to $65.00 and set a “market perform” rating on the stock in a report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $90.60.

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.