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

Zillow Group, Inc. (NASDAQ:Z) insider Dan Spaulding sold 3,169 shares of Zillow Group stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $35.37, for a total value of $112,087.53. Following the completion of the sale, the insider directly owned 44,561 shares of the company’s stock, valued at approximately $1,576,122.57. This trade represents a 6.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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

NASDAQ:Z traded down $1.06 on Monday, reaching $33.72. 5,034,691 shares of the company’s stock were exchanged, compared to its average volume of 4,238,369. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 153.28, a P/E/G ratio of 1.51 and a beta of 1.98. Zillow Group, Inc. has a 52 week low of $29.23 and a 52 week high of $93.88. The stock has a fifty day simple moving average of $32.91 and a 200-day simple moving average of $40.19.

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, topping the consensus estimate of $0.45 by $0.07. 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 the consensus estimate of $758.10 million. As a group, sell-side analysts predict that Zillow Group, Inc. will post 0.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Morgan Stanley set a $60.00 target price on Zillow Group in a research report on Thursday, August 6th. Sanford C. Bernstein lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Zacks Research cut Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Wall Street Zen downgraded Zillow Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings downgraded Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.75.

Hedge Funds Weigh In On Zillow Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its stake in Zillow Group by 11.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 303,930 shares of the financial services provider’s stock worth $9,580,000 after acquiring an additional 32,387 shares during the last quarter. Arlington Partners LLC grew its holdings in shares of Zillow Group by 22.5% during the second quarter. Arlington Partners LLC now owns 7,235 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 1,327 shares in the last quarter. CX Institutional bought a new position in shares of Zillow Group in the second quarter worth approximately $110,000. NewEdge Advisors LLC lifted its position in Zillow Group by 2.0% during the first quarter. NewEdge Advisors LLC now owns 38,052 shares of the financial services provider’s stock valued at $1,575,000 after purchasing an additional 750 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new position in shares of Zillow Group in the 1st quarter worth $166,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

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.