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 stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $81.49, for a total transaction 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 represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

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

Zillow Group Stock Performance

Zillow Group stock traded down $2.43 during mid-day trading on Wednesday, reaching $77.58. 336,424 shares of the company were exchanged, compared to its average volume of 542,306. The business has a fifty day moving average of $74.12 and a 200 day moving average of $70.88. The firm has a market cap of $18.80 billion, a P/E ratio of -298.38, a PEG ratio of 15.07 and a beta of 2.07. Zillow Group, Inc. has a 12-month low of $51.16 and a 12-month high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). The company had revenue of $655.00 million during the quarter, compared to analysts' expectations of $647.06 million. Zillow Group had a negative net margin of 2.60% and a negative return on equity of 1.26%. The company's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. Sell-side analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ZG shares. Benchmark reduced their target price on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of Zillow Group from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Piper Sandler increased their target price on shares of Zillow Group from $82.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Susquehanna restated a "neutral" rating on shares of Zillow Group in a research note on Friday, August 8th. Finally, DA Davidson lifted their price target on shares of Zillow Group from $85.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $85.62.

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC raised its position in shares of Zillow Group by 3.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,550 shares of the technology company's stock valued at $312,000 after buying an additional 131 shares during the last quarter. Voya Investment Management LLC boosted its position in Zillow Group by 2.8% during the first quarter. Voya Investment Management LLC now owns 5,778 shares of the technology company's stock worth $386,000 after acquiring an additional 156 shares during the last quarter. M&T Bank Corp grew its stake in Zillow Group by 4.1% during the 1st quarter. M&T Bank Corp now owns 5,437 shares of the technology company's stock valued at $363,000 after acquiring an additional 215 shares in the last quarter. National Bank of Canada FI grew its stake in Zillow Group by 79.4% during the 1st quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock valued at $33,000 after acquiring an additional 216 shares in the last quarter. Finally, Unified Investment Management lifted its stake in Zillow Group by 1.7% in the 2nd quarter. Unified Investment Management now owns 14,144 shares of the technology company's stock worth $969,000 after purchasing an additional 235 shares in the last quarter. 20.32% of the stock is owned by hedge funds and other institutional investors.

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.