Zillow Group (NASDAQ:ZG) CEO Sells $966,605.75 in Stock

Key Points

• Jeremy Wacksman, CEO of Zillow Group, sold 11,275 shares at an average price of $85.73, totaling approximately $966,605, which reduced his ownership by 6.86% to 153,113 shares.
• Zillow Group reported a loss in EPS, with $0.40 missing the consensus estimate of $0.44, despite a 14.5% revenue increase year-over-year to $655 million.
• Analysts have mixed views on Zillow, with a current average price target of $85.62 and ratings ranging from "sell" to "buy," indicating a cautious outlook on the stock.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) CEO Jeremy Wacksman sold 11,275 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $85.73, for a total transaction of $966,605.75. Following the completion of the sale, the chief executive officer directly owned 153,113 shares of the company's stock, valued at $13,126,377.49. This trade represents a 6.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, August 13th, Jeremy Wacksman sold 7,129 shares of Zillow Group stock. The shares were sold at an average price of $81.49, for a total transaction of $580,942.21.

Zillow Group Price Performance

ZG traded down $2.15 during trading hours on Wednesday, reaching $77.86. 44,734 shares of the stock traded hands, compared to its average volume of 555,580. The firm's fifty day simple moving average is $73.97 and its two-hundred day simple moving average is $70.83. The company has a market cap of $18.86 billion, a price-to-earnings ratio of -299.31, a PEG ratio of 15.22 and a beta of 2.07. Zillow Group, Inc. has a fifty-two week low of $51.16 and a fifty-two week high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). The firm had revenue of $655.00 million for the quarter, compared to analyst estimates of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. Zillow Group's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. On average, research analysts predict that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Zillow Group

Hedge funds have recently added to or reduced their stakes in the business. Winslow Asset Management Inc. boosted its holdings in shares of Zillow Group by 18.2% in the 2nd quarter. Winslow Asset Management Inc. now owns 7,475 shares of the technology company's stock valued at $512,000 after buying an additional 1,150 shares during the period. Evergreen Capital Management LLC acquired a new position in shares of Zillow Group in the 2nd quarter valued at about $252,000. Headlands Technologies LLC acquired a new position in shares of Zillow Group in the 2nd quarter valued at about $893,000. Corient Private Wealth LLC acquired a new position in Zillow Group in the second quarter valued at approximately $263,000. Finally, Two Sigma Securities LLC acquired a new position in Zillow Group in the second quarter valued at approximately $451,000. Institutional investors and hedge funds own 20.32% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ZG shares. Barclays restated an "underweight" rating and set a $66.00 price objective (up previously from $60.00) on shares of Zillow Group in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Zillow Group from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Piper Sandler raised their price target on shares of Zillow Group from $82.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Wedbush reissued an "outperform" rating and set a $90.00 price objective (down from $100.00) on shares of Zillow Group in a report on Thursday, May 8th. Finally, Susquehanna reissued a "neutral" rating on shares of Zillow Group in a report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $85.62.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.