Jeremy Hofmann Sells 5,167 Shares of Zillow Group, Inc. (NASDAQ:Z) Stock

Key Points

• Zillow Group CFO Jeremy Hofmann sold 5,167 shares at an average price of $81.49, resulting in a transaction value of approximately $421,059, which decreased his ownership by 5.30%.
• Shares of Zillow Group experienced a slight decline of $0.16, closing at $85.11, while the stock has a 1-year high of $89.39.
• Several analysts have upgraded their ratings on Zillow Group, including **JPMorgan Chase**, which raised its price target from $79 to $94, while the consensus target price stands at **$88.29**.

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

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

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

Zillow Group Price Performance

Shares of Z stock traded down $0.61 on Monday, hitting $84.50. 1,551,254 shares of the stock traded hands, compared to its average volume of 2,675,033. The firm has a market cap of $20.47 billion, a price-to-earnings ratio of -325.00, a PEG ratio of 16.03 and a beta of 2.09. Zillow Group, Inc. has a 52 week low of $52.86 and a 52 week high of $89.39. The firm has a 50 day simple moving average of $75.96 and a two-hundred day simple moving average of $72.66.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on Z shares. Bank of America upped their price objective on shares of Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Wells Fargo & Company upgraded shares of Zillow Group to a "hold" rating in a report on Monday, April 28th. Wedbush reiterated an "outperform" rating and set a $100.00 price target on shares of Zillow Group in a report on Monday, May 5th. Keefe, Bruyette & Woods dropped their target price on shares of Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th. Finally, William Blair initiated coverage on shares of Zillow Group in a report on Monday, April 21st. They issued a "market perform" rating on the stock. Eight equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $88.29.

Institutional Trading of Zillow Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co increased its holdings in shares of Zillow Group by 29.2% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 69,442 shares of the financial services provider's stock worth $4,870,000 after buying an additional 15,707 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Zillow Group by 86.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,384 shares of the financial services provider's stock valued at $517,000 after buying an additional 3,415 shares during the period. Corient Private Wealth LLC boosted its position in Zillow Group by 40.9% in the 2nd quarter. Corient Private Wealth LLC now owns 14,060 shares of the financial services provider's stock valued at $985,000 after buying an additional 4,078 shares during the period. MML Investors Services LLC raised its holdings in shares of Zillow Group by 103.6% in the 2nd quarter. MML Investors Services LLC now owns 11,328 shares of the financial services provider's stock valued at $794,000 after purchasing an additional 5,764 shares in the last quarter. Finally, Par Capital Management Inc. bought a new stake in shares of Zillow Group in the 2nd quarter valued at about $224,000. 71.01% of the stock is currently 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.