Insider Selling: Zillow Group (NASDAQ:ZG) CFO Sells 5,167 Shares of 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 business's stock in a transaction dated 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 directly owned 92,314 shares of the company's stock, valued at $7,522,667.86. The trade was a 5.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 Trading Down 3.0%

Zillow Group stock traded down $2.43 during midday trading on Wednesday, reaching $77.58. The stock had a trading volume of 336,424 shares, compared to its average volume of 542,306. Zillow Group, Inc. has a 12 month low of $51.16 and a 12 month high of $86.58. The company has a market capitalization of $18.80 billion, a P/E ratio of -298.38, a PEG ratio of 15.07 and a beta of 2.07. The company has a fifty day moving average price of $74.12 and a two-hundred day moving average price of $70.88.

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

Analysts Set New Price Targets

A number of brokerages recently commented on ZG. Benchmark decreased their target price on Zillow Group from $110.00 to $95.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Piper Sandler boosted their price objective on Zillow Group from $82.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. The Goldman Sachs Group decreased their price objective on Zillow Group from $77.00 to $69.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. boosted 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. Finally, Canaccord Genuity Group boosted their price objective on Zillow Group from $76.00 to $84.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $85.62.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Winslow Asset Management Inc. grew its holdings in shares of Zillow Group by 18.2% in the second quarter. Winslow Asset Management Inc. now owns 7,475 shares of the technology company's stock valued at $512,000 after acquiring an additional 1,150 shares in the last quarter. Evergreen Capital Management LLC bought a new position in shares of Zillow Group in the second quarter valued at approximately $252,000. Headlands Technologies LLC bought a new position in shares of Zillow Group in the second quarter valued at approximately $893,000. Corient Private Wealth LLC bought a new position in shares of Zillow Group in the second quarter valued at approximately $263,000. Finally, Two Sigma Securities LLC bought a new position in shares of Zillow Group in the second quarter valued at approximately $451,000. 20.32% of the stock is owned by institutional investors.

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.