Jeremy Hofmann Sells 8,168 Shares of Zillow Group, Inc. (NASDAQ:ZG) Stock

Key Points

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Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) CFO Jeremy Hofmann sold 8,168 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $85.35, for a total transaction of $697,138.80. Following the completion of the sale, the chief financial officer directly owned 84,146 shares in the company, valued at $7,181,861.10. This trade represents a 8.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, August 13th, Jeremy Hofmann sold 5,167 shares of Zillow Group stock. The stock was sold at an average price of $81.49, for a total transaction of $421,058.83.

Zillow Group Price Performance

Zillow Group stock traded down $0.56 during midday trading on Monday, reaching $80.80. The stock had a trading volume of 433,163 shares, compared to its average volume of 559,804. The firm's fifty day simple moving average is $73.54 and its two-hundred day simple moving average is $70.75. The firm has a market cap of $19.58 billion, a price-to-earnings ratio of -310.77, a PEG ratio of 15.32 and a beta of 2.07. 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 announced its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $655.00 million during the quarter, compared to analyst estimates of $647.06 million. During the same quarter in the prior year, the company earned $0.39 earnings per share. The company's quarterly revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Zillow Group

Several hedge funds have recently added to or reduced their stakes in ZG. GAMMA Investing LLC raised its position in Zillow Group by 38.0% in the first quarter. GAMMA Investing LLC now owns 1,828 shares of the technology company's stock worth $122,000 after acquiring an additional 503 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Zillow Group by 60.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,044 shares of the technology company's stock worth $404,000 after purchasing an additional 2,288 shares during the period. SG Americas Securities LLC boosted its position in shares of Zillow Group by 253.3% in the first quarter. SG Americas Securities LLC now owns 20,980 shares of the technology company's stock valued at $1,403,000 after acquiring an additional 15,042 shares during the period. Cetera Investment Advisers bought a new position in shares of Zillow Group in the fourth quarter valued at approximately $228,000. Finally, Two Sigma Advisers LP boosted its position in shares of Zillow Group by 21.5% in the fourth quarter. Two Sigma Advisers LP now owns 14,090 shares of the technology company's stock valued at $998,000 after acquiring an additional 2,490 shares during the period. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZG has been the topic of a number of analyst reports. Barclays reiterated an "underweight" rating and issued a $66.00 price target (up from $60.00) on shares of Zillow Group in a research report on Thursday, August 7th. Benchmark decreased their target price on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. The Goldman Sachs Group cut their price target on Zillow Group from $77.00 to $69.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. DA Davidson lifted their target price on Zillow Group from $85.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Piper Sandler lifted their target price on Zillow Group from $82.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Zillow Group has an average rating of "Hold" and a consensus price target 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.