Dan Spaulding Sells 3,078 Shares of Zillow Group (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) insider Dan Spaulding sold 3,078 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $115,117.20. Following the completion of the sale, the insider directly owned 49,696 shares of the company’s stock, valued at approximately $1,858,630.40. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 Thursday, May 14th, Dan Spaulding sold 2,056 shares of Zillow Group stock. The shares were sold at an average price of $37.93, for a total transaction of $77,984.08.
• On Tuesday, February 17th, Dan Spaulding sold 5,361 shares of Zillow Group stock. The stock was sold at an average price of $43.95, for a total value of $235,615.95.

Zillow Group Price Performance

ZG opened at $36.42 on Wednesday. The company has a market capitalization of $8.33 billion, a price-to-earnings ratio of 145.68, a price-to-earnings-growth ratio of 1.61 and a beta of 2.04. Zillow Group, Inc. has a 1-year low of $36.17 and a 1-year high of $90.22. The business has a 50 day moving average price of $42.61 and a two-hundred day moving average price of $55.94.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company had revenue of $708.00 million for the quarter, compared to analysts’ expectations of $705.17 million. During the same period last year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. Equities analysts expect that Zillow Group, Inc. will post 0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ZG. Canaccord Genuity Group cut their price target on shares of Zillow Group from $72.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, May 7th. Susquehanna set a $50.00 price objective on shares of Zillow Group in a research note on Thursday, February 12th. Barclays dropped their target price on shares of Zillow Group from $58.00 to $54.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Zacks Research lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Cantor Fitzgerald reduced their target price on shares of Zillow Group from $56.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Thirteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $71.24.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. DoubleLine ETF Adviser LP lifted its position in Zillow Group by 4.9% in the 3rd quarter. DoubleLine ETF Adviser LP now owns 3,214 shares of the technology company’s stock worth $239,000 after buying an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Zillow Group by 4.5% in the third 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 during the last quarter. Signaturefd LLC increased its stake in shares of Zillow Group by 10.4% in the fourth quarter. Signaturefd LLC now owns 1,711 shares of the technology company’s stock worth $117,000 after acquiring an additional 161 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of 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 acquiring an additional 187 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Zillow Group by 23.1% during the third quarter. Jones Financial Companies Lllp now owns 1,033 shares of the technology company’s stock worth $80,000 after acquiring an additional 194 shares in 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:

• 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

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.