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 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 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 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 transaction of $67,315.84.

Zillow Group Price Performance

ZG opened at $37.44 on Thursday. Zillow Group, Inc. has a fifty-two week low of $29.03 and a fifty-two week high of $90.22. The firm has a market capitalization of $8.42 billion, a P/E ratio of 170.19, a PEG ratio of 1.54 and a beta of 1.95. The company’s 50-day moving average is $33.07 and its 200 day moving average is $39.60.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Arax Advisory Partners raised its holdings in Zillow Group by 402.3% during the 4th quarter. Arax Advisory Partners now owns 442 shares of the technology company’s stock valued at $30,000 after acquiring an additional 354 shares during the period. First Command Advisory Services Inc. bought a new position in shares of Zillow Group in the fourth quarter worth $34,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Zillow Group by 183.6% in the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock worth $41,000 after acquiring an additional 637 shares during the period. Fifth Third Bancorp grew its position in shares of Zillow Group by 990.3% in the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock valued at $42,000 after purchasing an additional 921 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Zillow Group in the fourth quarter valued at $47,000. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ZG shares. Sanford C. Bernstein downgraded Zillow Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $50.00 to $38.00 in a research report on Thursday, August 6th. JPMorgan Chase & Co. reduced their price objective on Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Royal Bank Of Canada decreased their target price on Zillow Group from $70.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Benchmark lowered their target price on Zillow Group from $110.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, 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 report on Friday, June 12th. Eleven 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’s stock. According to data from MarketBeat, Zillow Group has an average rating of “Hold” and an average target price 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.