Zillow Group (NASDAQ:ZG) Insider Dan Spaulding Sells 3,078 Shares

Zillow Group, Inc. (NASDAQ:ZG) insider Dan Spaulding sold 3,078 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $37.40, for a total value of $115,117.20. Following the completion of the sale, the insider directly owned 49,696 shares of the company’s stock, valued at approximately $1,858,630.40. This trade represents a 5.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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.

Dan Spaulding also recently made the following trade(s):

• On Thursday, May 14th, Dan Spaulding sold 2,056 shares of Zillow Group stock. The shares were sold at an average price of $37.93, for a total value of $77,984.08.
• On Tuesday, February 17th, Dan Spaulding sold 5,361 shares of Zillow Group stock. The shares were sold at an average price of $43.95, for a total value of $235,615.95.

Zillow Group Stock Performance

Zillow Group stock opened at $37.61 on Tuesday. Zillow Group, Inc. has a one year low of $37.26 and a one year high of $90.22. The business has a fifty day moving average of $42.81 and a two-hundred day moving average of $56.17. The company has a market cap of $8.61 billion, a P/E ratio of 150.44, a price-to-earnings-growth ratio of 1.78 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.10. The business had revenue of $708.00 million during the quarter, compared to the consensus estimate of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 EPS. Sell-side analysts predict that Zillow Group, Inc. will post 0.82 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on ZG. Robert W. Baird cut their price target on Zillow Group from $67.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Mizuho dropped their price objective on Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Canaccord Genuity Group dropped their price objective on Zillow Group from $72.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, May 7th. Cantor Fitzgerald dropped their price objective on Zillow Group from $56.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, March 25th. Finally, Benchmark restated a “buy” rating on shares of Zillow Group in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and an average price target of $71.24.

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Arax Advisory Partners lifted its stake in shares of Zillow Group by 402.3% in the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock valued at $30,000 after purchasing an additional 354 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Zillow Group by 78.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock valued at $33,000 after purchasing an additional 187 shares in the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Zillow Group in the 4th quarter valued at about $34,000. EverSource Wealth Advisors LLC lifted its stake in shares of Zillow Group by 183.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after purchasing an additional 637 shares in the last quarter. Finally, 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 purchasing an additional 921 shares in the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

About Zillow Group

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.