Zillow Group (NASDAQ:ZG) Insider Dan Spaulding Sells 3,169 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) insider Dan Spaulding sold 3,169 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $35.37, for a total value of $112,087.53. Following the sale, the insider directly owned 44,561 shares in the company, valued at $1,576,122.57. This trade represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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, August 13th, Dan Spaulding sold 1,966 shares of Zillow Group stock. The shares were sold at an average price of $34.24, for a total transaction of $67,315.84.

Zillow Group Stock Performance

Shares of NASDAQ:ZG opened at $34.32 on Tuesday. The firm has a 50 day simple moving average of $33.02 and a 200 day simple moving average of $40.01. Zillow Group, Inc. has a 52 week low of $29.03 and a 52 week high of $90.22. The company has a market cap of $7.85 billion, a PE ratio of 156.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.08. The firm had revenue of $772.00 million for the quarter, compared to analysts’ expectations of $758.25 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. On average, equities analysts predict that Zillow Group, Inc. will post 0.89 earnings per share for the current year.

Institutional Investors Weigh In On Zillow Group

Several large investors have recently made changes to their positions in ZG. AQR Capital Management LLC increased its holdings in Zillow Group by 40.5% in the first quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock worth $862,000 after buying an additional 3,717 shares during the last quarter. Millennium Management LLC lifted its stake in Zillow Group by 110.8% in the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock valued at $19,456,000 after acquiring an additional 152,955 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Zillow Group by 7.0% in 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 worth $5,878,000 after acquiring an additional 5,737 shares in the last quarter. JPMorgan Chase & Co. grew its position in Zillow Group by 5.8% in the second quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company’s stock worth $1,445,000 after acquiring an additional 1,150 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Zillow Group by 16.3% during the 2nd quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company’s stock worth $543,000 after purchasing an additional 1,110 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

Analyst Upgrades and Downgrades

ZG has been the subject of several research analyst reports. Citizens Jmp reduced their price objective on Zillow Group from $75.00 to $46.00 and set a “market outperform” rating for the company in a research note on Friday, August 7th. Wells Fargo & Company dropped their target price on Zillow Group from $46.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. Susquehanna reduced their price target on shares of Zillow Group from $50.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. DA Davidson decreased their price target on shares of Zillow Group from $60.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Eleven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.29.

Key Headlines Impacting Zillow Group

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.