Jeremy Hofmann Sells 5,661 Shares of Zillow Group (NASDAQ:Z) Stock

Key Points

• Zillow CFO Jeremy Hofmann sold 5,661 shares at an average price of $34.18, totaling $193,492.98. The Rule 10b5-1 transaction was conducted to cover tax withholding on vested equity awards, leaving him with 59,144 shares.
• Zillow shares fell $1.06 to $33.72, with the stock trading well below its 52-week high of $93.88. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.52 in EPS and $772 million in revenue.
• Analyst sentiment remains a Moderate Buy, with an average price target of $66.75, although several firms recently downgraded the stock or lowered their targets. Institutional investors own approximately 71.01% of Zillow’s shares.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) CFO Jeremy Hofmann sold 5,661 shares of Zillow Group stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.18, for a total transaction of $193,492.98. Following the completion of the sale, the chief financial officer owned 59,144 shares in the company, valued at approximately $2,021,541.92. This represents a 8.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, August 13th, Jeremy Hofmann sold 3,510 shares of Zillow Group stock. The shares were sold at an average price of $34.24, for a total transaction of $120,182.40.

Zillow Group Price Performance

Shares of Zillow Group stock traded down $1.06 during trading on Monday, reaching $33.72. 5,034,691 shares of the stock traded hands, compared to its average volume of 4,238,369. Zillow Group, Inc. has a 52-week low of $29.23 and a 52-week high of $93.88. The business has a fifty day simple moving average of $32.91 and a two-hundred day simple moving average of $40.19. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 153.28, a P/E/G ratio of 1.51 and a beta of 1.98.

Zillow Group (NASDAQ:Z - Get Free Report) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The firm had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.10 million. On average, research analysts predict that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Leonteq Securities AG lifted its stake in Zillow Group by 627.0% in the first quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider's stock worth $56,000 after purchasing an additional 1,160 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Zillow Group by 283.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider's stock worth $59,000 after buying an additional 1,045 shares during the period. IFC & Insurance Marketing Inc. purchased a new stake in shares of Zillow Group in the fourth quarter worth approximately $68,000. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Zillow Group during the 4th quarter worth approximately $71,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in shares of Zillow Group by 34.5% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider's stock worth $80,000 after acquiring an additional 300 shares during the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Zacks Research downgraded shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Jefferies Financial Group dropped their price target on Zillow Group from $75.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, July 14th. UBS Group reduced their price objective on Zillow Group from $80.00 to $75.00 and set a "buy" rating on the stock in a research note on Tuesday, April 28th. Evercore lowered Zillow Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada dropped their target price on Zillow Group from $95.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Zillow Group has an average rating of "Moderate Buy" and an average target price of $66.75.

Zillow Group Company Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company's platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company's automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.

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