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

Zillow Group, Inc. (NASDAQ:Z) insider Dan Spaulding sold 1,966 shares of the stock in a transaction 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 sale, the insider owned 47,730 shares of the company’s stock, valued at $1,634,275.20. This trade represents a 3.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 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 3.0%

Shares of NASDAQ Z opened at $33.72 on Tuesday. The stock’s fifty day simple moving average is $32.89 and its 200 day simple moving average is $39.95. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 153.28, a PEG ratio of 1.51 and a beta of 1.98. Zillow Group, Inc. has a 52-week low of $29.23 and a 52-week high of $93.88.

Zillow Group (NASDAQ:Z) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.45 by $0.07. The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. As a group, analysts anticipate that Zillow Group, Inc. will post 0.89 earnings per share for the current year.

Zillow Group News Summary

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, while retaining 138,574 shares after the latest sale. The transactions reduced his holdings but were explicitly tied to tax obligations under a pre-arranged plan. CEO Form 4 filing
• Neutral Sentiment: CFO Jeremy Hofmann sold 9,171 shares worth about $313,675 across two transactions and continued to own 59,144 shares. The sales were also conducted under a 10b5-1 plan for tax withholding. CFO Form 4 filing
• Negative Sentiment: Several additional executives and insiders sold shares, bringing reported sales to 35,373 shares worth approximately $1.21 million. Dan Spaulding, Errol G. Samuelson, Jennifer Rock and David A. Beitel all reduced their holdings, creating a potentially negative near-term sentiment signal because of the number of insiders selling at roughly $34.24–$35.37 per share. The tax-related purpose substantially reduces the bearish significance. Insider Form 4 filings

Institutional Investors Weigh In On Zillow Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Leonteq Securities AG boosted its stake in shares of Zillow Group by 627.0% during the 1st quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider’s stock valued at $56,000 after buying an additional 1,160 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Zillow Group by 283.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 1,045 shares in the last quarter. IFC & Insurance Marketing Inc. acquired a new stake in Zillow Group during the fourth quarter valued at $68,000. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Zillow Group during the fourth quarter valued at $71,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in Zillow Group by 34.5% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on Z. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Keefe, Bruyette & Woods cut their target price on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a research note on Friday, August 7th. Wall Street Zen lowered Zillow Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings cut Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Finally, Zacks Research downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.75.

About Zillow Group

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.