Insider Selling: Zillow Group (NASDAQ:ZG) Insider Sells 3,169 Shares

Zillow Group, Inc. (NASDAQ:ZG) insider Dan Spaulding sold 3,169 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $35.37, for a total transaction of $112,087.53. Following the completion of the transaction, the insider 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Trading Down 2.4%

Shares of NASDAQ ZG traded down $0.84 during trading hours on Monday, reaching $34.32. The stock had a trading volume of 1,454,360 shares, compared to its average volume of 1,202,979. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 156.01, a P/E/G ratio of 1.53 and a beta of 1.95. The business’s fifty day moving average price is $33.03 and its two-hundred day moving average price is $40.23. Zillow Group, Inc. has a 52-week low of $29.03 and a 52-week high of $90.22.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.08. The company had revenue of $772.00 million for the quarter, compared to analysts’ expectations of $758.25 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.Zillow Group’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Equities research analysts anticipate that Zillow Group, Inc. will post 0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zillow Group

Institutional investors have recently added to or reduced their stakes in the stock. 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 worth $120,092,000 after purchasing an additional 1,600,097 shares in the last quarter. Polianta Ltd bought a new stake in shares of Zillow Group in the 1st quarter valued at about $1,494,000. Independent Franchise Partners LLP boosted its holdings in shares of Zillow Group by 1.1% in the 4th quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock valued at $138,135,000 after buying an additional 21,862 shares in the last quarter. Deltroit Asset Management UK LLP purchased a new position in shares of Zillow Group in the 4th quarter worth approximately $2,715,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Zillow Group in the 2nd quarter worth approximately $1,546,000. Institutional investors own 20.32% of the company’s stock.

Analyst Ratings Changes

ZG has been the subject of several recent research reports. Citizens Jmp decreased their price objective on Zillow Group from $75.00 to $46.00 and set a “market outperform” rating for the company in a report on Friday, August 7th. Weiss Ratings downgraded shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Mizuho reduced their price target on shares of Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. JPMorgan Chase & Co. lowered their price target on shares of Zillow Group from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company dropped their price objective on shares of Zillow Group from $46.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, August 7th. Eleven equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.29.

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.