Zillow Group (NASDAQ:Z) CEO Jeremy Wacksman Sells 6,051 Shares

Key Points

• Zillow CEO Jeremy Wacksman sold 6,051 shares on May 14 at an average price of $37.92, totaling about $229,454. The sale reduced his ownership by 3.58% and was made to cover tax withholding tied to vesting equity awards.
• The stock has been under pressure but edged higher, trading up 0.8% to $37.66 on Friday. That price is near the 12-month low of $36.76 and well below the 12-month high of $93.88.
• Zillow recently beat quarterly earnings expectations, reporting $0.53 EPS versus the $0.43 consensus and revenue of $708 million, slightly above estimates. Analysts currently rate the stock a “Moderate Buy,” with a consensus target price of $79.75.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) CEO Jeremy Wacksman sold 6,051 shares of the business's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $37.92, for a total value of $229,453.92. Following the sale, the chief executive officer owned 162,771 shares in the company, valued at approximately $6,172,276.32. The trade was a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, February 17th, Jeremy Wacksman sold 13,661 shares of Zillow Group stock. The shares were sold at an average price of $44.25, for a total value of $604,499.25.

Zillow Group Stock Up 0.8%

Shares of NASDAQ:Z traded up $0.29 during midday trading on Friday, reaching $37.66. 3,075,721 shares of the company traded hands, compared to its average volume of 4,082,034. Zillow Group, Inc. has a 12 month low of $36.76 and a 12 month high of $93.88. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 150.64, a price-to-earnings-growth ratio of 1.80 and a beta of 2.07. The firm's fifty day moving average price is $43.14 and its two-hundred day moving average price is $57.40.

Zillow Group (NASDAQ:Z - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.10 million. Analysts forecast that Zillow Group, Inc. will post 0.82 earnings per share for the current year.

Zillow Group News Roundup

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Zillow published new survey data supporting its marketplace strategy, showing most soon-to-be sellers prefer broad public exposure over private listing networks. The findings reinforce Zillow’s argument that full-market visibility and real-time demand signals help sellers achieve better outcomes. Article Title
• Neutral Sentiment: Zillow CEO Jeremy Wacksman was featured in an interview about the company’s evolution from a desktop-only search engine into a major real-estate app. The article is more of a branding/strategy profile than a near-term financial catalyst. Article Title
• Negative Sentiment: General Counsel Bradley D. Owens sold shares on May 14 and May 15, though the trades were made under a pre-arranged Rule 10b5-1 plan and were tied to tax withholding from vesting equity awards. Insider sales can still weigh on sentiment when the stock is already under legal scrutiny.
• Negative Sentiment: Several plaintiff-side law firms announced investigations into Zillow, increasing the risk of distraction, legal costs, and possible headline pressure on the shares. Article Title

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings upgraded Zillow Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, May 7th. Needham & Company LLC restated a "hold" rating on shares of Zillow Group in a research note on Wednesday, February 11th. Zacks Research upgraded Zillow Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 6th. Zelman & Associates upgraded Zillow Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 12th. Finally, Wall Street Zen upgraded Zillow Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Three equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $79.75.

Hedge Funds Weigh In On Zillow Group

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Zillow Group by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider's stock valued at $1,777,841,000 after purchasing an additional 71,336 shares during the last quarter. Independent Franchise Partners LLP increased its position in shares of Zillow Group by 0.9% during the 4th quarter. Independent Franchise Partners LLP now owns 10,953,405 shares of the financial services provider's stock valued at $747,241,000 after purchasing an additional 94,569 shares during the last quarter. Capital World Investors increased its position in shares of Zillow Group by 1.8% during the 4th quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider's stock valued at $738,554,000 after purchasing an additional 191,058 shares during the last quarter. Tiger Global Management LLC increased its position in shares of Zillow Group by 21.7% during the 1st quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider's stock valued at $304,927,000 after purchasing an additional 1,312,000 shares during the last quarter. Finally, State Street Corp increased its position in shares of Zillow Group by 3.9% during the 4th quarter. State Street Corp now owns 3,838,788 shares of the financial services provider's stock valued at $261,882,000 after purchasing an additional 143,726 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

About Zillow Group

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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