Zillow Group (NASDAQ:Z) CEO Jeremy Wacksman Sells 5,786 Shares

by · The Markets Daily

Zillow Group, Inc. (NASDAQ:Z – Get Free Report) CEO Jeremy Wacksman sold 5,786 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $198,112.64. Following the completion of the sale, the chief executive officer directly owned 147,913 shares in the company, valued at approximately $5,064,541.12. This represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 Wacksman also recently made the following trade(s):

  • On Monday, August 17th, Jeremy Wacksman sold 9,339 shares of Zillow Group stock. The stock was sold at an average price of $34.18, for a total transaction of $319,207.02.
  • On Friday, May 22nd, Jeremy Wacksman sold 9,072 shares of Zillow Group stock. The shares were sold at an average price of $36.54, for a total transaction of $331,490.88.

Zillow Group Stock Down 3.0%

Z traded down $1.06 during trading on Monday, reaching $33.72. 5,034,691 shares of the stock traded hands, compared to its average volume of 4,238,369. The stock’s 50-day moving average is $32.91 and its 200 day moving average is $40.19. Zillow Group, Inc. has a 12 month low of $29.23 and a 12 month high of $93.88. The stock has a market capitalization of $7.72 billion, a PE ratio of 153.28, a P/E/G ratio of 1.51 and a beta of 1.98.

Zillow Group (NASDAQ:Z – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The company had revenue of $772.00 million for the quarter, compared to the consensus estimate of $758.10 million. As a group, equities research analysts anticipate that Zillow Group, Inc. will post 0.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Wall Street Zen cut shares of Zillow Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. decreased their price target on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Morgan Stanley set a $60.00 price objective on shares of Zillow Group in a research report on Thursday, August 6th. Finally, Jefferies Financial Group reduced their target price on Zillow Group from $75.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.75.

Read Our Latest Stock Analysis on Zillow Group

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its stake in shares of Zillow Group by 11.9% in the second quarter. Assenagon Asset Management S.A. now owns 303,930 shares of the financial services provider’s stock valued at $9,580,000 after buying an additional 32,387 shares in the last quarter. Arlington Partners LLC increased its position in shares of Zillow Group by 22.5% during the second quarter. Arlington Partners LLC now owns 7,235 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 1,327 shares in the last quarter. CX Institutional acquired a new stake in shares of Zillow Group in the 2nd quarter worth about $110,000. NewEdge Advisors LLC raised its holdings in shares of Zillow Group by 2.0% in the 1st quarter. NewEdge Advisors LLC now owns 38,052 shares of the financial services provider’s stock worth $1,575,000 after acquiring an additional 750 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new position in Zillow Group in the 1st quarter valued at about $166,000. Institutional investors own 71.01% of the company’s stock.

Zillow Group Company Profile

(Get Free Report)

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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