Zillow Group (NASDAQ:Z) CFO Sells $205,737.40 in Stock

Key Points

• Zillow CFO Jeremy Hofmann sold 5,501 shares on May 18 at an average price of $37.40, totaling about $205,737. The sale was made under a pre-arranged 10b5-1 plan to cover tax withholding tied to vesting equity awards.
• Zillow stock fell 1.3% to $37.17 on Monday, near its 52-week low of $36.76. The shares remain well below their 52-week high of $93.88.
• The company recently beat earnings expectations, reporting $0.53 EPS versus $0.43 expected and revenue of $708 million. Analysts currently rate the stock a “Moderate Buy” with an average price target of $79.75.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) CFO Jeremy Hofmann sold 5,501 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $37.40, for a total value of $205,737.40. Following the completion of the sale, the chief financial officer directly owned 68,315 shares in the company, valued at $2,554,981. This represents a 7.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, May 14th, Jeremy Hofmann sold 3,671 shares of Zillow Group stock. The stock was sold at an average price of $37.93, for a total transaction of $139,241.03.
• On Wednesday, February 18th, Jeremy Hofmann sold 7,786 shares of Zillow Group stock. The stock was sold at an average price of $43.73, for a total value of $340,481.78.

Zillow Group Trading Down 1.3%

Z stock traded down $0.49 during trading on Monday, hitting $37.17. 4,276,990 shares of the company's stock were exchanged, compared to its average volume of 4,084,120. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 148.68, a PEG ratio of 1.76 and a beta of 2.07. Zillow Group, Inc. has a 52-week low of $36.76 and a 52-week high of $93.88. The business has a 50-day moving average price of $42.97 and a two-hundred day moving average price of $57.12.

Zillow Group (NASDAQ:Z - Get Free Report) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The firm had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.10 million. On average, equities research analysts anticipate that Zillow Group, Inc. will post 0.82 earnings per share for the current fiscal year.

Institutional Trading of Zillow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in 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 acquiring an additional 71,336 shares during the last quarter. Independent Franchise Partners LLP raised its stake 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 worth $747,241,000 after buying an additional 94,569 shares in the last quarter. Capital World Investors raised its stake 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 worth $738,554,000 after buying an additional 191,058 shares in the last quarter. Tiger Global Management LLC lifted its holdings in shares of Zillow Group by 21.7% in 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 buying an additional 1,312,000 shares during the period. Finally, State Street Corp lifted its holdings in shares of Zillow Group by 3.9% in 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 buying an additional 143,726 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Z has been the subject of a number of research reports. Barclays raised shares of Zillow Group from a "strong sell" rating to a "hold" rating in a report on Thursday, January 29th. Needham & Company LLC reaffirmed a "hold" rating on shares of Zillow Group in a report on Wednesday, February 11th. Wall Street Zen raised Zillow Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Weiss Ratings raised Zillow Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Zillow Group from $84.00 to $76.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. 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 company's stock. According to data from MarketBeat.com, Zillow Group presently has an average rating of "Moderate Buy" and an average price target of $79.75.

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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