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

Key Points

• Jeremy Hofmann, CFO of Zillow Group (NASDAQ:ZG), sold 25,000 shares at an average price of $89.99, totaling approximately $2.25 million, reducing his ownership by 22.91%.
• Zillow Group's stock is currently trading at $82.51, down 1.6%, and has a market cap of $19.99 billion with a P/E ratio of -317.35.
• The company reported $0.40 EPS, missing estimates of $0.44, while its revenue rose 14.5% year-over-year to $655 million.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) CFO Jeremy Hofmann sold 25,000 shares of the company's stock in a transaction dated 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 sale, the chief financial officer owned 84,146 shares in the company, valued at $7,572,298.54. This trade represents a 22.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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 Stock Down 0.8%

Shares of NASDAQ ZG traded down $0.64 during trading on Monday, reaching $83.70. The company had a trading volume of 452,855 shares, compared to its average volume of 508,858. The company's fifty day moving average price is $79.24 and its 200-day moving average price is $71.37. Zillow Group, Inc. has a 12 month low of $55.08 and a 12 month high of $88.45. The stock has a market cap of $20.28 billion, a P/E ratio of -321.92, a PEG ratio of 23.49 and a beta of 2.02.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ZG. 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 worth $312,000 after buying an additional 131 shares in the last quarter. Voya Investment Management LLC raised its position in shares of Zillow Group by 2.8% in the first quarter. Voya Investment Management LLC now owns 5,778 shares of the technology company's stock worth $386,000 after buying an additional 156 shares in the last quarter. M&T Bank Corp raised its position in shares of Zillow Group by 4.1% in the first quarter. M&T Bank Corp now owns 5,437 shares of the technology company's stock worth $363,000 after buying an additional 215 shares in the last quarter. National Bank of Canada FI raised its position in shares of Zillow Group by 79.4% in the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock worth $33,000 after buying an additional 216 shares in the last quarter. Finally, Unified Investment Management raised its position in shares of Zillow Group by 1.7% in the second quarter. Unified Investment Management now owns 14,144 shares of the technology company's stock worth $969,000 after buying an additional 235 shares in the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Zelman & Associates upgraded Zillow Group to a "hold" rating in a research report on Friday, August 8th. Wells Fargo & Company dropped their price objective on Zillow Group from $75.00 to $73.00 and set an "equal weight" rating on the stock in a research note on Thursday. Evercore ISI boosted their price objective on Zillow Group from $90.00 to $95.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Susquehanna reissued a "neutral" rating on shares of Zillow Group in a research note on Friday, August 8th. Finally, Canaccord Genuity Group boosted their price objective on Zillow Group from $76.00 to $84.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Thirteen research 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. Based on data from MarketBeat.com, Zillow Group presently has a consensus rating of "Hold" and a consensus target price of $85.52.

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.