Zillow Group, Inc. (NASDAQ:ZG – Get Free Report) CFO Jeremy Hofmann sold 5,661 shares of Zillow Group stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.18, for a total value of $193,492.98. Following the completion of the transaction, the chief financial officer owned 59,144 shares of the company’s stock, valued at approximately $2,021,541.92. This represents a 8.74% decrease in their position. The transaction was disclosed in a 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, August 13th, Jeremy Hofmann sold 3,510 shares of Zillow Group stock. The shares were sold at an average price of $34.24, for a total value of $120,182.40.
Zillow Group Price Performance
NASDAQ:ZG opened at $34.32 on Tuesday. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of 156.01, a PEG ratio of 1.53 and a beta of 1.95. Zillow Group, Inc. has a 1 year low of $29.03 and a 1 year high of $90.22. The business has a 50 day simple moving average of $33.02 and a 200-day simple moving average of $40.01.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its position in Zillow Group by 40.5% during the 1st quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock valued at $862,000 after purchasing an additional 3,717 shares in the last quarter. Millennium Management LLC increased its stake in shares of Zillow Group by 110.8% during the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after buying an additional 152,955 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Zillow Group by 7.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock valued at $5,878,000 after buying an additional 5,737 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Zillow Group by 5.8% in the second quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company’s stock valued at $1,445,000 after acquiring an additional 1,150 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Zillow Group by 16.3% in the second quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company’s stock valued at $543,000 after acquiring an additional 1,110 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have issued reports on ZG shares. Wells Fargo & Company dropped their target price on Zillow Group from $46.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, August 7th. BTIG Research reaffirmed a “neutral” rating on shares of Zillow Group in a research report on Thursday, June 11th. The Goldman Sachs Group reduced their target price on Zillow Group from $53.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, June 12th. DA Davidson lowered their target price on shares of Zillow Group from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Mizuho cut their price target on shares of Zillow Group from $65.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $52.29.
Get Our Latest Research Report on Zillow Group
More Zillow Group News
Here are the key news stories impacting Zillow Group this week:
- Neutral Sentiment: CEO Jeremy Wacksman sold a combined 15,125 shares for approximately $517,320 across August 13 and August 17. Because the sales were planned and tax-related, they provide limited evidence of a change in his outlook on Zillow. CEO Form 4 filing
- Neutral Sentiment: CFO Jeremy Hofmann sold 9,171 shares worth approximately $313,675 over the same two dates. He retained a substantial position, and the stated purpose was tax withholding rather than discretionary selling. CFO Form 4 filing
- Negative Sentiment: Additional sales by Dan Spaulding, Errol G. Samuelson, Jennifer Rock and David A. Beitel totaled 11,077 shares and approximately $382,857. The breadth of selling across management and insiders may weigh on investor sentiment and add near-term supply, even though the transactions were tax-related and relatively small compared with their remaining holdings. Insider Form 4 filings
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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