Zillow Group, Inc. (NASDAQ:ZG – Get Free Report) insider Dan Spaulding sold 3,169 shares of Zillow Group stock in a transaction that occurred 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 transaction, the insider owned 44,561 shares of the company’s stock, valued at $1,576,122.57. This represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 stock was sold at an average price of $34.24, for a total transaction of $67,315.84.
Zillow Group Stock Performance
ZG stock opened at $35.28 on Wednesday. The company has a 50 day moving average price of $33.01 and a two-hundred day moving average price of $39.80. The stock has a market capitalization of $7.93 billion, a P/E ratio of 160.37, a PEG ratio of 1.53 and a beta of 1.95. Zillow Group, Inc. has a one year low of $29.03 and a one year high of $90.22.
Hedge Funds Weigh In On Zillow Group
Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its position in Zillow Group by 40.5% during the first 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 in the last quarter. Millennium Management LLC increased its position in Zillow Group by 110.8% during the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock worth $19,456,000 after buying an additional 152,955 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Zillow Group by 7.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock valued at $5,878,000 after acquiring an additional 5,737 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 buying an additional 1,150 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in Zillow Group by 16.3% in the 2nd 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. Hedge funds and other institutional investors own 20.32% of the company’s stock.
More Zillow Group News
Here are the key news stories impacting Zillow Group this week:
- Positive Sentiment: U.S. asking rents rose to $1,962 in July, increasing 2.3% from a year earlier—the fastest growth in more than a year. Strong rental demand could support Zillow’s traffic, advertising activity and rental-related revenue. Rents near $2,000, rising at the fastest pace in over a year
- Neutral Sentiment: CEO Jeremy Wacksman, CFO Jeremy Hofmann, CAO Jennifer Rock, CTO David Beitel and other insiders sold shares worth roughly $1.5 million in aggregate. The transactions were made under pre-arranged trading plans or to cover tax withholding on vested equity awards, making them a relatively weak signal of deteriorating management confidence. Zillow Group insider filings
- Negative Sentiment: Rental concessions increased to 39.8% of Zillow listings in July from 35.9% a year earlier. Although rent growth remains positive, the higher use of concessions suggests landlords still face competitive pressure, which could temper the benefit to Zillow’s rental marketplace.
- Negative Sentiment: Analysts have recently lowered several price targets, including Wells Fargo’s reduction to $35 and Canaccord Genuity’s reduction to $40. Zillow Group’s consensus rating remains “Hold,” despite its latest quarterly earnings beat of $0.52 per share versus the $0.44 estimate. Zillow Group analyst and stock information
Analyst Ratings Changes
Several brokerages have recently weighed in on ZG. Barclays lowered their price target on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Weiss Ratings downgraded Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Canaccord Genuity Group dropped their target price on Zillow Group from $52.00 to $40.00 and set a “hold” rating on the stock in a research report on Thursday, August 6th. Finally, Wells Fargo & Company cut their price target 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. Eleven equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $52.29.
Read Our Latest Research Report on ZG
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.
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