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

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 13,661 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 116,322 shares in the company, valued at $5,147,248.50. This trade represents a 10.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 ZG stock opened at $45.54 on Friday. Zillow Group, Inc. has a 1-year low of $42.25 and a 1-year high of $90.22. The stock’s 50-day moving average is $62.57 and its 200 day moving average is $70.91. The company has a market cap of $11.02 billion, a P/E ratio of 506.06, a PEG ratio of 2.51 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Tuesday, February 10th. The technology company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The firm had revenue of $654.00 million during the quarter, compared to the consensus estimate of $650.40 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, analysts anticipate that Zillow Group, Inc. will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

ZG has been the subject of several analyst reports. Cantor Fitzgerald decreased their price objective on Zillow Group from $68.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, February 11th. The Goldman Sachs Group reduced their target price on Zillow Group from $78.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 11th. Sanford C. Bernstein lowered their price target on Zillow Group from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, January 12th. Citigroup cut their price objective on shares of Zillow Group from $100.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, KeyCorp decreased their price objective on shares of Zillow Group from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Fourteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and a consensus target price of $78.05.

Institutional Trading of Zillow Group

Several institutional investors and hedge funds have recently bought and sold shares of ZG. Invesco Ltd. increased its stake in shares of Zillow Group by 21.1% in the fourth quarter. Invesco Ltd. now owns 62,706 shares of the technology company’s stock worth $4,278,000 after acquiring an additional 10,941 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Zillow Group by 25.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,712 shares of the technology company’s stock valued at $458,000 after purchasing an additional 1,342 shares during the last quarter. Empowered Funds LLC grew its position in Zillow Group by 17.9% during the 4th quarter. Empowered Funds LLC now owns 6,276 shares of the technology company’s stock worth $428,000 after purchasing an additional 955 shares during the period. XTX Topco Ltd acquired a new stake in Zillow Group during the 4th quarter worth about $8,009,000. Finally, Voloridge Investment Management LLC purchased a new position in shares of Zillow Group during the 4th quarter valued at about $11,652,000. 20.32% of the stock is currently owned by institutional investors and hedge funds.

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.