Zillow Group (NASDAQ:ZG) Insider Dan Spaulding Sells 1,966 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZGGet Free Report) insider Dan Spaulding sold 1,966 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $67,315.84. Following the completion of the sale, the insider directly owned 47,730 shares of the company’s stock, valued at approximately $1,634,275.20. This represents a 3.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 Friday, August 14th, Dan Spaulding sold 3,169 shares of Zillow Group stock. The stock was sold at an average price of $35.37, for a total value of $112,087.53.

Zillow Group Stock Down 2.4%

Shares of NASDAQ:ZG opened at $34.32 on Tuesday. Zillow Group, Inc. has a 52-week low of $29.03 and a 52-week high of $90.22. The stock has a market cap of $7.85 billion, a P/E ratio of 156.01, a PEG ratio of 1.53 and a beta of 1.95. The business has a fifty day moving average of $33.02 and a two-hundred day moving average of $40.01.

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

Institutional Inflows and Outflows

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

Zillow Group News Roundup

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

Wall Street Analyst Weigh In

ZG has been the topic of a number of research analyst reports. Susquehanna reduced their target price on Zillow Group from $50.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Cantor Fitzgerald decreased their price target on shares of Zillow Group from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. DA Davidson cut their price objective on Zillow Group from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. UBS Group reduced their price objective on Zillow Group from $75.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Finally, Benchmark decreased their target price on Zillow Group from $110.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $52.29.

Get Our Latest Report on Zillow Group

About Zillow Group

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Zillow Group (NASDAQ:ZG)

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