Insider Selling: Zillow Group (NASDAQ:ZG) CFO Sells 8,168 Shares of Stock

Key Points

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Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) CFO Jeremy Hofmann sold 8,168 shares of Zillow Group stock in a transaction on Friday, August 15th. The shares were sold at an average price of $85.35, for a total value of $697,138.80. Following the completion of the sale, the chief financial officer directly owned 84,146 shares of the company's stock, valued at $7,181,861.10. This trade represents a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $81.49, for a total value of $421,058.83.

Zillow Group Price Performance

Shares of NASDAQ ZG traded down $2.43 during midday trading on Wednesday, hitting $77.58. The stock had a trading volume of 336,424 shares, compared to its average volume of 542,306. The company's 50-day simple moving average is $74.12 and its 200 day simple moving average is $70.88. The firm has a market cap of $18.80 billion, a P/E ratio of -298.38, a price-to-earnings-growth ratio of 15.07 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 earnings results on Wednesday, August 6th. The technology company reported $0.40 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%. The firm's quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the business posted $0.39 earnings per share. Equities analysts expect that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Zillow Group

Institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI grew its stake in shares of Zillow Group by 79.4% during the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock worth $33,000 after purchasing an additional 216 shares during the period. Salem Investment Counselors Inc. acquired a new position in Zillow Group in the first quarter valued at about $42,000. CX Institutional acquired a new position in Zillow Group in the first quarter valued at about $46,000. Wood Tarver Financial Group LLC acquired a new position in Zillow Group in the fourth quarter valued at about $70,000. Finally, PNC Financial Services Group Inc. grew its stake in Zillow Group by 33.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock valued at $75,000 after acquiring an additional 280 shares during the period. 20.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ZG has been the subject of several research reports. KeyCorp reissued an "overweight" rating and issued a $92.00 target price (up from $90.00) on shares of Zillow Group in a research note on Thursday, August 7th. DA Davidson lifted their target price on Zillow Group from $85.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Wells Fargo & Company lifted their price objective on Zillow Group from $60.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. 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 research note on Thursday, May 8th. Finally, Canaccord Genuity Group lifted their price objective on Zillow Group from $76.00 to $84.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently 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.