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

Zillow Group, Inc. (NASDAQ:ZG) CEO Jeremy Wacksman sold 9,072 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $36.54, for a total value of $331,490.88. Following the completion of the sale, the chief executive officer owned 153,699 shares in the company, valued at approximately $5,616,161.46. This represents a 5.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock was sold at an average price of $37.92, for a total value of $229,453.92.

Zillow Group Stock Performance

Shares of ZG stock opened at $36.21 on Wednesday. The stock has a fifty day moving average price of $41.97 and a 200 day moving average price of $54.76. The stock has a market cap of $8.28 billion, a PE ratio of 144.84, a P/E/G ratio of 1.58 and a beta of 2.04. Zillow Group, Inc. has a 1 year low of $35.11 and a 1 year high of $90.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data 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 firm had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.Zillow Group’s revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. As a group, equities research analysts predict that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on ZG. Susquehanna set a $50.00 price objective on Zillow Group in a report on Thursday, February 12th. DA Davidson set a $75.00 price objective on shares of Zillow Group in a research note on Thursday, February 12th. Citigroup reissued a “market outperform” rating on shares of Zillow Group in a research note on Tuesday. Robert W. Baird dropped their price objective on shares of Zillow Group from $67.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Finally, Wells Fargo & Company dropped their price objective on shares of Zillow Group from $60.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Thirteen investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $71.24.

Institutional Trading of Zillow Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in Zillow Group in the 4th quarter worth approximately $152,050,000. Independent Franchise Partners LLP boosted its holdings in shares of Zillow Group by 1.1% in the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after purchasing an additional 21,862 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Zillow Group by 38,344.0% in the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after purchasing an additional 1,600,097 shares during the last quarter. Tiger Global Management LLC boosted its holdings in shares of Zillow Group by 30.7% in the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock valued at $69,849,000 after purchasing an additional 240,690 shares during the last quarter. Finally, UBS Group AG boosted its holdings in shares of Zillow Group by 44.5% in the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after purchasing an additional 313,643 shares during the last quarter. 20.32% of the stock is owned by hedge funds and other institutional investors.

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.