Insider Selling: Zillow Group (NASDAQ:Z) Insider Sells 3,078 Shares of Stock

Zillow Group, Inc. (NASDAQ:Z) insider Dan Spaulding sold 3,078 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $115,117.20. Following the sale, the insider directly owned 49,696 shares in the company, valued at approximately $1,858,630.40. This represents a 5.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Thursday, May 14th, Dan Spaulding sold 2,056 shares of Zillow Group stock. The stock was sold at an average price of $37.93, for a total transaction of $77,984.08.
• 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 Price Performance

Shares of NASDAQ Z traded down $0.49 during mid-day trading on Monday, hitting $37.17. The company’s stock had a trading volume of 4,276,990 shares, compared to its average volume of 4,084,120. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 148.68, a price-to-earnings-growth ratio of 1.76 and a beta of 2.07. Zillow Group, Inc. has a one year low of $36.76 and a one year high of $93.88. The company’s fifty day simple moving average is $42.97 and its 200-day simple moving average is $57.12.

Zillow Group (NASDAQ:Z) last issued its earnings results 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 company had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.10 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. On average, sell-side analysts predict that Zillow Group, Inc. will post 0.82 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Zelman & Associates upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Barclays upgraded shares of Zillow Group from a “strong sell” rating to a “hold” rating in a report on Thursday, January 29th. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a report on Wednesday, February 11th. 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 issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $79.75.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Zillow Group by 0.3% in the third quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider’s stock valued at $1,777,841,000 after acquiring an additional 71,336 shares during the period. Independent Franchise Partners LLP raised its stake in Zillow Group by 0.9% in the fourth quarter. Independent Franchise Partners LLP now owns 10,953,405 shares of the financial services provider’s stock valued at $747,241,000 after purchasing an additional 94,569 shares in the last quarter. Capital World Investors raised its stake in Zillow Group by 1.8% in the fourth quarter. Capital World Investors now owns 10,826,066 shares of the financial services provider’s stock valued at $738,554,000 after purchasing an additional 191,058 shares in the last quarter. Tiger Global Management LLC raised its stake in Zillow Group by 21.7% in the first quarter. Tiger Global Management LLC now owns 7,368,957 shares of the financial services provider’s stock valued at $304,927,000 after purchasing an additional 1,312,000 shares in the last quarter. Finally, State Street Corp raised its stake in Zillow Group by 3.9% in the fourth quarter. State Street Corp now owns 3,838,788 shares of the financial services provider’s stock valued at $261,882,000 after purchasing an additional 143,726 shares in the last quarter. Institutional investors own 71.01% of the company’s stock.

Zillow Group Company Profile

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.