Insider Selling: Zillow Group (NASDAQ:ZG) Insider Sells 2,056 Shares of Stock

Zillow Group, Inc. (NASDAQ:ZG) insider Dan Spaulding sold 2,056 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $37.93, for a total transaction of $77,984.08. Following the completion of the transaction, the insider directly owned 52,774 shares of the company’s stock, valued at $2,001,717.82. This represents a 3.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction of $235,615.95.

Zillow Group Stock Down 1.2%

ZG stock traded down $0.45 during midday trading on Monday, hitting $37.61. The company’s stock had a trading volume of 1,697,655 shares, compared to its average volume of 1,113,151. Zillow Group, Inc. has a 52-week low of $37.26 and a 52-week high of $90.22. The firm has a market capitalization of $8.61 billion, a P/E ratio of 150.44, a PEG ratio of 1.78 and a beta of 2.04. The firm has a 50-day simple moving average of $42.99 and a 200-day simple moving average of $56.42.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The business had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.17 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The company’s revenue was up 18.4% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. On average, sell-side analysts expect that Zillow Group, Inc. will post 0.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ZG has been the subject of several recent analyst reports. KeyCorp decreased their price objective on shares of Zillow Group from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. DA Davidson set a $75.00 price objective on shares of Zillow Group in a research report on Thursday, February 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Zillow Group in a research report on Tuesday, April 28th. Evercore reaffirmed an “outperform” rating on shares of Zillow Group in a research report on Tuesday, March 17th. Finally, Barclays decreased their price objective on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. One equities research 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.24.

Institutional Investors Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. DoubleLine ETF Adviser LP raised its stake in Zillow Group by 4.9% during the 3rd quarter. DoubleLine ETF Adviser LP now owns 3,214 shares of the technology company’s stock worth $239,000 after acquiring an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Zillow Group by 4.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,657 shares of the technology company’s stock worth $256,000 after acquiring an additional 156 shares in the last quarter. Signaturefd LLC increased its position in Zillow Group by 10.4% during the fourth quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock worth $117,000 after buying an additional 161 shares during the period. Smartleaf Asset Management LLC lifted its stake in Zillow Group by 78.9% in the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock valued at $33,000 after buying an additional 187 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Zillow Group by 23.1% in the third quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock valued at $80,000 after buying an additional 194 shares during the last quarter. 20.32% of the stock is currently 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.