Dan Spaulding Sells 2,056 Shares of Zillow Group (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) insider Dan Spaulding sold 2,056 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $37.93, for a total value of $77,984.08. Following the transaction, the insider directly owned 52,774 shares of the company’s stock, valued at $2,001,717.82. This trade represents a 3.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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.

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

• On Monday, May 18th, Dan Spaulding sold 3,078 shares of Zillow Group stock. The shares were sold at an average price of $37.40, for a total transaction of $115,117.20.
• 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 Down 3.2%

Shares of ZG opened at $36.42 on Wednesday. Zillow Group, Inc. has a 12-month low of $36.17 and a 12-month high of $90.22. The business has a 50-day simple moving average of $42.61 and a two-hundred day simple moving average of $55.94. The stock has a market cap of $8.33 billion, a PE ratio of 145.68, a PEG ratio of 1.61 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to analyst estimates 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 for the quarter was up 18.4% on a year-over-year basis. During the same period last year, the firm posted $0.41 earnings per share. On average, equities research analysts expect that Zillow Group, Inc. will post 0.9 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Arax Advisory Partners boosted its holdings 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 worth $30,000 after buying an additional 354 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in 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 during the last quarter. First Command Advisory Services Inc. bought a new stake in Zillow Group in the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC boosted its stake in Zillow Group by 183.6% in the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after acquiring an additional 637 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in Zillow Group by 990.3% in the first 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. Hedge funds and other institutional investors own 20.32% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on ZG shares. Mizuho reduced their target price on Zillow Group from $65.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 price target on shares of Zillow Group in a research report on Tuesday, April 28th. KeyCorp lowered their target price on shares of Zillow Group from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. The Goldman Sachs Group set a $53.00 price target on shares of Zillow Group in a research report on Thursday, May 7th. Finally, Susquehanna set a $50.00 price objective on Zillow Group in a research report on Thursday, February 12th. Thirteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.24.

Key Zillow Group News

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Zillow’s latest earnings beat expectations, with revenue and EPS both coming in ahead of analyst forecasts, supporting the view that the business is still growing. Zillow Group stock and earnings details
• Positive Sentiment: Zillow’s rental-market research continues to generate attention, including its latest “hottest rental market” ranking for Providence, which may help brand visibility and traffic. Zillow press release on hottest rental market
• Neutral Sentiment: Several insider stock sales were disclosed, but they were executed under 10b5-1 plans and described as tax-withholding related, making them less concerning than voluntary selling. Insider trading alert for Zillow Group
• Negative Sentiment: Zillow is trying to prevent the loss of a Chicago listing feed from Midwest Real Estate Data, and any disruption to listing access could hurt its marketplace offering and user engagement. Article about Chicago listing feed dispute

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.