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

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 the firm's 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 sale, 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 position. The sale was disclosed in a legal 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 transaction of $697,138.80.
• On Wednesday, August 13th, Jeremy Hofmann sold 5,167 shares of Zillow Group stock. The stock was sold at an average price of $81.49, for a total transaction of $421,058.83.

Zillow Group Price Performance

Shares of Zillow Group stock traded down $1.48 on Wednesday, hitting $85.71. The stock had a trading volume of 1,947,457 shares, compared to its average volume of 2,577,543. Zillow Group, Inc. has a twelve month low of $53.90 and a twelve month high of $91.93. The business's 50 day moving average is $81.41 and its two-hundred day moving average is $73.13.

Wall Street Analyst Weigh In

Z has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price objective on Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Bank of America boosted their target price on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $88.29.

Institutional Trading of Zillow Group

Large investors have recently modified their holdings of the stock. Ethic Inc. raised its stake in Zillow Group by 13.3% in the fourth quarter. Ethic Inc. now owns 8,827 shares of the financial services provider's stock valued at $654,000 after purchasing an additional 1,037 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in Zillow Group by 9.4% in the 4th quarter. Ensign Peak Advisors Inc now owns 58,258 shares of the financial services provider's stock valued at $4,314,000 after buying an additional 5,000 shares during the period. Gotham Asset Management LLC acquired a new position in shares of Zillow Group in the 4th quarter valued at approximately $442,000. Occudo Quantitative Strategies LP lifted its holdings in shares of Zillow Group by 12.1% during the 4th quarter. Occudo Quantitative Strategies LP now owns 14,527 shares of the financial services provider's stock worth $1,076,000 after acquiring an additional 1,570 shares during the period. Finally, NorthRock Partners LLC bought a new stake in shares of Zillow Group during the 4th quarter worth approximately $437,000. 71.01% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.