Jeremy Hofmann Sells 7,786 Shares of Zillow Group (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 7,786 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $43.73, for a total value of $340,481.78. Following the completion of the transaction, the chief financial officer owned 57,487 shares of the company’s stock, valued at $2,513,906.51. The trade was a 11.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, February 12th, Jeremy Hofmann sold 5,538 shares of Zillow Group stock. The shares were sold at an average price of $44.22, for a total value of $244,890.36.

Zillow Group Trading Up 1.4%

Shares of ZG opened at $45.54 on Friday. The firm has a fifty day moving average price of $62.57 and a 200-day moving average price of $70.91. Zillow Group, Inc. has a 12-month low of $42.25 and a 12-month high of $90.22. The firm has a market capitalization of $11.02 billion, a P/E ratio of 506.06, a P/E/G ratio of 2.51 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data 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 business had revenue of $654.00 million during the quarter, compared to the consensus estimate of $650.40 million. During the same period last year, the firm earned $0.27 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. Analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Institutional Trading of Zillow Group

A number of hedge funds have recently added to or reduced their stakes in ZG. Norges Bank purchased a new position in shares of Zillow Group in the 2nd quarter valued at approximately $159,770,000. MFG Wealth Management Inc. purchased a new position in Zillow Group during the third quarter valued at approximately $1,493,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Zillow Group during the 3rd quarter valued at $1,443,000. ABC Arbitrage SA boosted its stake in shares of Zillow Group by 390.1% in the second quarter. ABC Arbitrage SA now owns 31,227 shares of the technology company’s stock worth $2,139,000 after acquiring an additional 24,856 shares during the period. Finally, TD Asset Management Inc bought a new position in Zillow Group during the second quarter valued at approximately $262,000. 20.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. DA Davidson set a $75.00 price target on Zillow Group in a research note on Thursday, February 12th. Wells Fargo & Company decreased their target price on shares of Zillow Group from $73.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, January 21st. Canaccord Genuity Group set a $72.00 target price on Zillow Group in a research note on Wednesday, February 11th. Finally, Sanford C. Bernstein reduced their price objective on Zillow Group from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. Fourteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and an average target price of $78.05.

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.