Jeremy Hofmann Sells 4,702 Shares of Zillow Group, Inc. (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) CFO Jeremy Hofmann sold 4,702 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $73.96, for a total transaction of $347,759.92. Following the transaction, the chief financial officer now owns 106,537 shares in the company, valued at $7,879,476.52. This represents a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Jeremy Hofmann also recently made the following trade(s):

• On Wednesday, August 28th, Jeremy Hofmann sold 7,155 shares of Zillow Group stock. The shares were sold at an average price of $56.89, for a total value of $407,047.95.

Zillow Group Stock Performance

NASDAQ:ZG opened at $70.73 on Friday. The stock’s 50-day moving average is $61.58 and its two-hundred day moving average is $51.59. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. Zillow Group, Inc. has a fifty-two week low of $36.38 and a fifty-two week high of $73.89.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.33%. The firm had revenue of $581.00 million for the quarter, compared to the consensus estimate of $555.45 million. During the same period in the previous year, the firm posted ($0.12) earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis. Sell-side analysts anticipate that Zillow Group, Inc. will post -0.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ZG. Citigroup raised their target price on Zillow Group from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Piper Sandler restated an “overweight” rating and set a $73.00 price objective (up previously from $62.00) on shares of Zillow Group in a research report on Thursday, November 7th. Canaccord Genuity Group boosted their target price on shares of Zillow Group from $56.00 to $64.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Evercore ISI raised their target price on shares of Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Benchmark upped their price target on Zillow Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.17.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently modified their holdings of the stock. Cynosure Group LLC bought a new stake in shares of Zillow Group in the 3rd quarter valued at approximately $12,248,000. Mirabella Financial Services LLP bought a new stake in Zillow Group in the third quarter worth approximately $11,351,000. Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of Zillow Group during the 3rd quarter worth $9,813,000. CreativeOne Wealth LLC raised its holdings in shares of Zillow Group by 164.4% during the 3rd quarter. CreativeOne Wealth LLC now owns 179,700 shares of the technology company’s stock valued at $11,129,000 after purchasing an additional 111,743 shares in the last quarter. Finally, Mark Asset Management LP acquired a new stake in shares of Zillow Group in the 2nd quarter valued at $4,524,000. 20.32% of the stock is owned by institutional investors and hedge funds.

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.