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

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 firm's stock in a transaction that occurred 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 in the company, valued at $7,572,298.54. The trade was a 22.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 stock was 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 shares were sold at an average price of $81.49, for a total transaction of $421,058.83.

Zillow Group Trading Down 1.6%

ZG traded down $1.34 during midday trading on Wednesday, reaching $82.51. The company's stock had a trading volume of 530,713 shares, compared to its average volume of 505,149. The company has a fifty day simple moving average of $78.39 and a 200 day simple moving average of $71.20. The stock has a market cap of $19.99 billion, a P/E ratio of -317.35, a PEG ratio of 8.79 and a beta of 2.02. Zillow Group, Inc. has a twelve month low of $52.17 and a twelve month high of $88.45.

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

Hedge Funds Weigh In On Zillow Group

A number of large investors have recently modified their holdings of ZG. National Bank of Canada FI grew its stake in shares of Zillow Group by 79.4% during the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock valued at $33,000 after purchasing an additional 216 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in Zillow Group in the 1st quarter valued at $42,000. CX Institutional acquired a new stake in shares of Zillow Group in the 1st quarter valued at $46,000. Wood Tarver Financial Group LLC bought a new stake in shares of Zillow Group during the fourth quarter worth $70,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Zillow Group by 33.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock valued at $75,000 after acquiring an additional 280 shares during the period. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ZG. Zelman & Associates upgraded Zillow Group to a "hold" rating in a research report on Friday, August 8th. Piper Sandler increased their target price on Zillow Group from $82.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Susquehanna restated a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. DA Davidson upped their price target on Zillow Group from $85.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, KeyCorp reissued an "overweight" rating and set a $92.00 price objective (up from $90.00) on shares of Zillow Group in a report on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $85.62.

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.