Jeremy Hofmann Sells 25,000 Shares of Zillow Group (NASDAQ:Z) Stock

Key Points

• Zillow Group's CFO, Jeremy Hofmann, sold 25,000 shares at an average price of $89.99, totaling approximately $2.25 million, reducing his stake by 22.91%.
• The company's stock experienced a decline, trading down to $85.71 after reaching a twelve month high of $91.93.
• Analysts have set a consensus target price of $88.29 for Zillow Group, with several institutions recently modifying their holdings, indicating continued interest in the stock.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) CFO Jeremy Hofmann sold 25,000 shares of Zillow Group stock in a transaction on Monday, September 8th. The shares were sold at an average price of $89.99, for a total value of $2,249,750.00. Following the completion of the transaction, the chief financial officer directly owned 84,146 shares of the company's stock, valued at $7,572,298.54. This represents a 22.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $85.35, for a total value of $697,138.80.
• On Wednesday, August 13th, Jeremy Hofmann sold 5,167 shares of Zillow Group stock. The shares were sold at an average price of $81.49, for a total value of $421,058.83.

Zillow Group Trading Down 0.8%

NASDAQ Z traded down $0.66 during midday trading on Monday, hitting $87.12. The company had a trading volume of 1,599,980 shares, compared to its average volume of 2,350,380. Zillow Group, Inc. has a twelve month low of $57.00 and a twelve month high of $91.93. The firm has a 50-day moving average price of $82.34 and a 200-day moving average price of $73.32. The company has a market capitalization of $21.11 billion, a PE ratio of -335.08, a P/E/G ratio of 24.44 and a beta of 2.04.

Analyst Ratings Changes

Several brokerages have recently issued reports on Z. Bank of America lifted their price target on Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target on Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Zillow Group presently has a consensus rating of "Moderate Buy" and an average target price of $88.29.

Institutional Investors Weigh In On Zillow Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. TD Private Client Wealth LLC grew its position in Zillow Group by 352.0% during the 2nd quarter. TD Private Client Wealth LLC now owns 452 shares of the financial services provider's stock worth $32,000 after acquiring an additional 352 shares during the last quarter. IFP Advisors Inc grew its position in Zillow Group by 288.9% during the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock worth $31,000 after acquiring an additional 338 shares during the last quarter. SBI Securities Co. Ltd. grew its position in Zillow Group by 58.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 503 shares of the financial services provider's stock worth $35,000 after acquiring an additional 185 shares during the last quarter. National Pension Service grew its position in Zillow Group by 74.8% during the 1st quarter. National Pension Service now owns 577 shares of the financial services provider's stock worth $40,000 after acquiring an additional 247 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Zillow Group by 47.7% during the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock worth $42,000 after acquiring an additional 196 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

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.