Insider Selling: Zillow Group (NASDAQ:ZG) Insider Sells $112,087.53 in Stock

Zillow Group, Inc. (NASDAQ:ZG) insider Dan Spaulding sold 3,169 shares of Zillow Group stock in a transaction on Friday, August 14th. The stock was sold at an average price of $35.37, for a total transaction of $112,087.53. Following the completion of the transaction, the insider directly owned 44,561 shares in the company, valued at $1,576,122.57. This represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 Thursday, August 13th, Dan Spaulding sold 1,966 shares of Zillow Group stock. The shares were sold at an average price of $34.24, for a total value of $67,315.84.

Zillow Group Trading Down 2.4%

Shares of ZG traded down $0.84 during midday trading on Monday, hitting $34.32. 1,454,360 shares of the company’s stock traded hands, compared to its average volume of 1,202,979. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 156.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.95. Zillow Group, Inc. has a 1 year low of $29.03 and a 1 year high of $90.22. The firm’s fifty day moving average is $33.03 and its 200-day moving average is $40.23.

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

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. M&T Bank Corp lifted its position in Zillow Group by 38,344.0% during the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock valued at $120,092,000 after purchasing an additional 1,600,097 shares during the period. Polianta Ltd acquired a new stake in Zillow Group during the first quarter worth about $1,494,000. Independent Franchise Partners LLP grew its holdings in Zillow Group by 1.1% during the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock worth $138,135,000 after acquiring an additional 21,862 shares during the period. Deltroit Asset Management UK LLP purchased a new position in Zillow Group during the fourth quarter valued at approximately $2,715,000. Finally, Assenagon Asset Management S.A. purchased a new position in Zillow Group during the second quarter valued at approximately $1,546,000. Institutional investors and hedge funds own 20.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ZG. Wells Fargo & Company cut their price objective on shares of Zillow Group from $46.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. Weiss Ratings downgraded shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. The Goldman Sachs Group cut their price target on shares of Zillow Group from $53.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, June 12th. Royal Bank Of Canada decreased their price target on shares of Zillow Group from $70.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Finally, Citigroup lowered their price objective on shares of Zillow Group from $68.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $52.29.

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.