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

Zillow Group, Inc. (NASDAQ:ZG) insider Dan Spaulding sold 1,966 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $67,315.84. Following the completion of the transaction, the insider owned 47,730 shares in the company, valued at $1,634,275.20. This trade represents a 3.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 transaction of $112,087.53.

Zillow Group Price Performance

NASDAQ ZG traded down $0.84 during mid-day trading on Monday, reaching $34.32. 1,454,360 shares of the stock were exchanged, compared to its average volume of 1,202,979. Zillow Group, Inc. has a one year low of $29.03 and a one year high of $90.22. The stock has a 50 day simple moving average of $33.03 and a 200-day simple moving average of $40.23. The stock has a market cap of $7.72 billion, a P/E ratio of 156.01, a P/E/G ratio of 1.53 and a beta of 1.95.

Zillow Group (NASDAQ:ZG) last released its earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. The business had revenue of $772.00 million for the quarter, compared to analyst estimates of $758.25 million. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. Zillow Group’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. Sell-side analysts anticipate that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in shares of Zillow Group by 10.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the technology company’s stock valued at $147,000 after acquiring an additional 198 shares in the last quarter. Lido Advisors LLC lifted its holdings in shares of Zillow Group by 0.4% in the 4th quarter. Lido Advisors LLC now owns 50,846 shares of the technology company’s stock worth $3,627,000 after purchasing an additional 215 shares in the last quarter. Royal London Asset Management Ltd. grew its position in Zillow Group by 1.4% in the 2nd quarter. Royal London Asset Management Ltd. now owns 18,217 shares of the technology company’s stock valued at $1,248,000 after purchasing an additional 247 shares during the period. Mackenzie Financial Corp grew its position in Zillow Group by 8.5% in the 3rd quarter. Mackenzie Financial Corp now owns 3,301 shares of the technology company’s stock valued at $246,000 after purchasing an additional 258 shares during the period. Finally, California State Teachers Retirement System increased its stake in Zillow Group by 9.2% during the 2nd quarter. California State Teachers Retirement System now owns 3,147 shares of the technology company’s stock valued at $216,000 after purchasing an additional 264 shares in the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ZG shares. Royal Bank Of Canada cut their target price on Zillow Group from $70.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings lowered Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. UBS Group dropped their price target 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. JPMorgan Chase & Co. cut their price target on Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Finally, DA Davidson reduced their price objective on shares of Zillow Group from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have assigned 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 $52.29.

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.