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

Key Points

• Zillow Group CFO Jeremy Hofmann sold 5,501 shares on May 18 at an average price of $37.40, for total proceeds of $205,737.40. The sale was made under a pre-arranged 10b5-1 plan to cover tax withholding obligations tied to vesting equity awards.
• After the transaction, Hofmann still held 68,315 shares valued at about $2.55 million, and the sale reduced his position by 7.45%. He had also made additional Zillow stock sales earlier in May and in February.
• Zillow shares were down 1.2% on the day to $37.61, near their 52-week low of $37.26. The company recently beat quarterly EPS estimates and posted 18.4% revenue growth, but several analysts have trimmed price targets in recent notes.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) CFO Jeremy Hofmann sold 5,501 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $205,737.40. Following the transaction, the chief financial officer owned 68,315 shares of the company's stock, valued at $2,554,981. The trade was a 7.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value 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 Stock Down 1.2%

Shares of ZG traded down $0.45 during trading hours on Monday, hitting $37.61. The company had a trading volume of 1,697,655 shares, compared to its average volume of 1,113,151. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 150.44, a PEG ratio of 1.78 and a beta of 2.04. The business has a fifty day moving average of $42.99 and a 200-day moving average of $56.42. Zillow Group, Inc. has a 12 month low of $37.26 and a 12 month high of $90.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.10. The firm had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The business's revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, equities analysts expect that Zillow Group, Inc. will post 0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ZG. Arax Advisory Partners lifted its holdings in shares of Zillow Group by 402.3% in the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company's stock worth $30,000 after acquiring an additional 354 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Zillow Group by 78.9% during the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company's stock worth $33,000 after buying an additional 187 shares in the last quarter. First Command Advisory Services Inc. bought a new position in shares of Zillow Group in the 4th quarter valued at $34,000. Fifth Third Bancorp lifted its stake in shares of Zillow Group by 990.3% in the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company's stock valued at $42,000 after acquiring an additional 921 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Zillow Group during the 4th quarter valued at $47,000. Institutional investors own 20.32% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on ZG. Wells Fargo & Company dropped their price target on Zillow Group from $60.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, May 7th. Robert W. Baird dropped their target price on shares of Zillow Group from $67.00 to $55.00 and set a "neutral" rating for the company in a research report on Wednesday, March 18th. DA Davidson set a $75.00 target price on shares of Zillow Group in a research report on Thursday, February 12th. Piper Sandler dropped their target price on shares of Zillow Group from $70.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. Finally, Barclays dropped their target price on shares of Zillow Group from $58.00 to $54.00 and set an "equal weight" rating for the company in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Zillow Group presently has an average rating of "Moderate Buy" and an average target price of $71.24.

Zillow Group Company Profile

Zillow Group NASDAQ: ZG is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow's core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.

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