Zillow Group (NASDAQ:Z) Insider Dan Spaulding Sells 2,056 Shares

Zillow Group, Inc. (NASDAQ:Z) insider Dan Spaulding sold 2,056 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $37.93, for a total transaction of $77,984.08. Following the sale, the insider directly owned 52,774 shares in the company, valued at $2,001,717.82. This represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 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 shares were sold at an average price of $43.95, for a total transaction of $235,615.95.

Zillow Group Stock Down 1.3%

Shares of Z traded down $0.49 on Monday, hitting $37.17. 4,276,990 shares of the stock traded hands, compared to its average volume of 4,084,120. The firm has a market capitalization of $8.50 billion, a P/E ratio of 148.68, a P/E/G ratio of 1.76 and a beta of 2.07. The stock’s 50 day moving average is $42.97 and its two-hundred day moving average is $57.12. Zillow Group, Inc. has a 1 year low of $36.76 and a 1 year high of $93.88.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.10. The business had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.10 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. Research analysts forecast that Zillow Group, Inc. will post 0.82 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target on Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Wall Street Zen raised shares of Zillow Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Keefe, Bruyette & Woods dropped their price objective on shares of Zillow Group from $60.00 to $50.00 and set a “market perform” rating for the company in a research note on Thursday, May 7th. Finally, Zacks Research raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and an average target price of $79.75.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in shares of Zillow Group by 39.7% in the 1st quarter. Royal Bank of Canada now owns 169,350 shares of the financial services provider’s stock valued at $7,007,000 after purchasing an additional 48,102 shares during the last quarter. Emmett Investment Management LP grew its holdings in shares of Zillow Group by 353.9% during the 1st quarter. Emmett Investment Management LP now owns 96,236 shares of the financial services provider’s stock worth $3,897,000 after purchasing an additional 75,036 shares during the period. Empowered Funds LLC increased its position in Zillow Group by 2,690.6% during the 1st quarter. Empowered Funds LLC now owns 61,421 shares of the financial services provider’s stock worth $2,542,000 after purchasing an additional 59,220 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Zillow Group by 106.8% in the first quarter. The Manufacturers Life Insurance Company now owns 41,519 shares of the financial services provider’s stock valued at $1,718,000 after buying an additional 21,439 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in Zillow Group by 455.6% in the first quarter. Quantinno Capital Management LP now owns 641,618 shares of the financial services provider’s stock valued at $26,550,000 after buying an additional 526,142 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.