Zillow Group (NASDAQ:ZG) CEO Jeremy Wacksman Sells 7,129 Shares

Key Points

• Zillow Group CEO Jeremy Wacksman sold 7,129 shares of the company's stock for approximately $580,942.21, reducing his position by 4.16%.
• The company reported $0.40 earnings per share for the last quarter, which was below the consensus estimate of $0.44, despite a 14.5% year-over-year revenue increase to $655 million.
• Analysts' ratings on Zillow Group vary, with a consensus rating of "Hold" and an average price target of $85.62.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) CEO Jeremy Wacksman sold 7,129 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $81.49, for a total value of $580,942.21. Following the transaction, the chief executive officer owned 164,388 shares in the company, valued at approximately $13,395,978.12. This trade represents a 4.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Friday, August 15th, Jeremy Wacksman sold 11,275 shares of Zillow Group stock. The stock was sold at an average price of $85.73, for a total value of $966,605.75.

Zillow Group Stock Down 2.7%

Zillow Group stock traded down $2.15 during midday trading on Wednesday, hitting $77.86. 44,734 shares of the stock were exchanged, compared to its average volume of 555,580. The company has a fifty day simple moving average of $73.97 and a two-hundred day simple moving average of $70.83. Zillow Group, Inc. has a 52 week low of $51.16 and a 52 week high of $86.58. The stock has a market capitalization of $18.86 billion, a PE ratio of -299.31, a P/E/G ratio of 15.22 and a beta of 2.07.

Zillow Group (NASDAQ:ZG - Get Free Report) last released 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). The firm had revenue of $655.00 million for the quarter, compared to the consensus estimate of $647.06 million. Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%.The firm's revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. As a group, equities research analysts anticipate that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Trading of Zillow Group

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 503 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Zillow Group by 60.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,044 shares of the technology company's stock worth $404,000 after buying an additional 2,288 shares in the last quarter. SG Americas Securities LLC lifted its position in Zillow Group by 253.3% during the 1st quarter. SG Americas Securities LLC now owns 20,980 shares of the technology company's stock worth $1,403,000 after buying an additional 15,042 shares in the last quarter. Cetera Investment Advisers bought a new stake in Zillow Group during the 4th quarter worth about $228,000. Finally, Two Sigma Advisers LP raised its holdings in Zillow Group by 21.5% during the fourth quarter. Two Sigma Advisers LP now owns 14,090 shares of the technology company's stock worth $998,000 after acquiring an additional 2,490 shares in the last quarter. Institutional investors own 20.32% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Zillow Group from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Susquehanna reaffirmed a "neutral" rating on shares of Zillow Group in a research note on Friday, August 8th. Piper Sandler lifted their price target on shares of Zillow Group from $82.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. The Goldman Sachs Group cut their price objective on shares of Zillow Group from $77.00 to $69.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Finally, Barclays reaffirmed an "underweight" rating and issued a $66.00 price objective (up from $60.00) on shares of Zillow Group in a research report on Thursday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $85.62.

Zillow Group Company Profile

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.