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

Zillow Group, Inc. (NASDAQ:Z) insider Dan Spaulding sold 1,966 shares of Zillow Group stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $67,315.84. Following the sale, the insider owned 47,730 shares of the company’s stock, valued at approximately $1,634,275.20. This represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Friday, August 14th, Dan Spaulding sold 3,169 shares of Zillow Group stock. The shares were sold at an average price of $35.37, for a total transaction of $112,087.53.

Zillow Group Stock Performance

Shares of Z stock opened at $34.57 on Wednesday. The firm has a market cap of $7.77 billion, a P/E ratio of 157.14, a P/E/G ratio of 1.51 and a beta of 1.98. The firm’s 50 day moving average price is $32.87 and its 200-day moving average price is $39.73. Zillow Group, Inc. has a one year low of $29.23 and a one year high of $93.88.

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

Key Zillow Group News

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Rents are accelerating: Zillow’s Observed Rent Index showed typical U.S. asking rent reached $1,962 in July, up 2.3% year over year—the fastest growth in more than a year. Strong rental demand could support Zillow’s listings, advertising and property-manager businesses. Rents near $2,000, rising at the fastest pace in over a year
• Neutral Sentiment: Rental conditions are mixed: Although rents are rising, 39.8% of Zillow-listed rentals offered concessions in July, compared with 35.9% a year earlier. This suggests demand is healthy but property managers still face enough competition to provide discounts, potentially limiting revenue benefits.
• Neutral Sentiment: Insider sales were largely tax-related: Executives and insiders, including CEO Jeremy Wacksman, CFO Jeremy Hofmann, CAO Jennifer Rock, CTO David Beitel and others, sold a combined 35,373 shares worth roughly $1.21 million. The transactions occurred under a pre-arranged trading plan or to cover tax withholding on vested equity awards, reducing—but not eliminating—the bearish significance. Zillow Group insider trading report
• Negative Sentiment: Analyst views remain cautious: Recent target-price reductions and an Evercore downgrade to “hold” indicate concern about Zillow’s outlook and valuation. The consensus rating remains “Moderate Buy,” but the stock’s elevated earnings multiple and price well below its 200-day moving average highlight ongoing investor concerns.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Leonteq Securities AG increased its holdings in Zillow Group by 627.0% during the 1st quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 1,160 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Zillow Group by 283.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock valued at $59,000 after buying an additional 1,045 shares during the period. IFC & Insurance Marketing Inc. purchased a new position in shares of Zillow Group in the 4th quarter valued at about $68,000. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Zillow Group during the fourth quarter worth about $71,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in shares of Zillow Group by 34.5% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider’s stock worth $80,000 after buying an additional 300 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Z has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on Zillow Group from $80.00 to $68.00 and set a “buy” rating for the company in a report on Friday, May 8th. Royal Bank Of Canada reduced their price target on shares of Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 10th. Zacks Research lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Keefe, Bruyette & Woods dropped their price objective on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating for the company in a report on Friday, August 7th. Finally, Sanford C. Bernstein downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Zillow Group currently has an average rating of “Moderate Buy” and a consensus target price 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.