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

Zillow Group, Inc. (NASDAQ:ZG) insider Dan Spaulding sold 2,056 shares of the stock in a transaction dated 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 sale, the insider owned 52,774 shares of the company’s stock, valued at $2,001,717.82. This trade represents a 3.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 stock was 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 stock was sold at an average price of $43.95, for a total transaction of $235,615.95.

Zillow Group Trading Down 1.2%

Zillow Group stock opened at $37.61 on Tuesday. Zillow Group, Inc. has a 12-month low of $37.26 and a 12-month high of $90.22. The stock has a market cap of $8.61 billion, a P/E ratio of 150.44, a PEG ratio of 1.78 and a beta of 2.04. The company has a 50-day moving average price of $42.81 and a 200 day moving average price of $56.17.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The firm had revenue of $708.00 million during the quarter, compared to analysts’ expectations of $705.17 million. During the same period last year, the business earned $0.41 earnings per share. Zillow Group’s revenue was up 18.4% compared to the same quarter last year. As a group, analysts forecast that Zillow Group, Inc. will post 0.82 EPS for the current year.

Analysts Set New Price Targets

ZG has been the subject of several recent analyst reports. Wells Fargo & Company cut their price objective on shares of Zillow Group from $60.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. UBS Group lowered their target price on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Zacks Research raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 10th. DA Davidson set a $75.00 target price on shares of Zillow Group in a research note on Thursday, February 12th. Finally, KeyCorp lowered their target price on shares of Zillow Group from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Zillow Group presently has a consensus rating of “Moderate Buy” and an average price target of $71.24.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ZG. Norges Bank acquired a new stake in Zillow Group in the fourth quarter valued at approximately $152,050,000. Independent Franchise Partners LLP raised its holdings in Zillow Group by 1.1% in the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after acquiring an additional 21,862 shares in the last quarter. M&T Bank Corp raised its holdings in Zillow Group by 38,344.0% in 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 acquiring an additional 1,600,097 shares in the last quarter. Tiger Global Management LLC raised its holdings in Zillow Group by 30.7% in the fourth quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock valued at $69,849,000 after acquiring an additional 240,690 shares in the last quarter. Finally, UBS Group AG raised its holdings in Zillow Group by 44.5% in the fourth quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after acquiring an additional 313,643 shares in the last quarter. Hedge funds and other institutional investors own 20.32% of the company’s stock.

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.