Zillow Group, Inc. (NASDAQ:ZG) CFO Sells $421,058.83 in Stock

Key Points

• Jeremy Hofmann, the CFO of Zillow Group, sold 5,167 shares at an average price of $81.49, decreasing his stake by 5.30%, while retaining a total of 92,314 shares valued at approximately $7.52 million.
• Zillow Group reported earnings of $0.40 per share for the last quarter, missing analysts' expectations by $0.04, despite achieving a revenue of $655 million, which was above the consensus estimate.
• Analyst ratings for Zillow Group show a mix of views, with one sell rating, eleven hold ratings, and thirteen buy ratings, resulting in a consensus rating of "Hold" and a target price of $85.62.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) CFO Jeremy Hofmann sold 5,167 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $81.49, for a total value of $421,058.83. Following the completion of the sale, the chief financial officer owned 92,314 shares in the company, valued at approximately $7,522,667.86. This represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, August 15th, Jeremy Hofmann sold 8,168 shares of Zillow Group stock. The shares were sold at an average price of $85.35, for a total value of $697,138.80.

Zillow Group Stock Performance

Shares of NASDAQ:ZG traded down $0.56 during mid-day trading on Monday, reaching $80.80. 433,163 shares of the company's stock were exchanged, compared to its average volume of 559,804. The firm has a market capitalization of $19.58 billion, a price-to-earnings ratio of -310.77, a PEG ratio of 15.32 and a beta of 2.07. The business's fifty day moving average price is $73.54 and its 200-day moving average price is $70.75. Zillow Group, Inc. has a twelve month low of $51.16 and a twelve month high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). The firm had revenue of $655.00 million during 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 quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 EPS. Analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Zillow Group

Several institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its stake in Zillow Group by 42.1% in the 4th quarter. Franklin Resources Inc. now owns 4,739 shares of the technology company's stock valued at $336,000 after buying an additional 1,405 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Zillow Group by 13.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 5,137 shares of the technology company's stock worth $364,000 after acquiring an additional 600 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Zillow Group by 97.8% during the fourth quarter. Renaissance Technologies LLC now owns 62,100 shares of the technology company's stock worth $4,400,000 after purchasing an additional 30,700 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Zillow Group during the 4th quarter worth $14,916,000. Finally, Sterling Capital Management LLC lifted its holdings in shares of Zillow Group by 57.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,825 shares of the technology company's stock worth $200,000 after acquiring an additional 1,032 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays reiterated an "underweight" rating and issued a $66.00 price objective (up from $60.00) on shares of Zillow Group in a research note on Thursday, August 7th. The Goldman Sachs Group reduced their target price on Zillow Group from $77.00 to $69.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. KeyCorp reissued an "overweight" rating and issued a $92.00 target price (up from $90.00) on shares of Zillow Group in a report on Thursday, August 7th. Evercore ISI upped their price objective on Zillow Group from $90.00 to $95.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. upped their price objective on Zillow Group from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $85.62.

About Zillow Group

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.