Insider Selling: Zillow Group (NASDAQ:ZG) Insider Sells $115,117.20 in Stock

Zillow Group, Inc. (NASDAQ:ZG) insider Dan Spaulding sold 3,078 shares of Zillow Group stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $37.40, for a total value of $115,117.20. Following the sale, the insider directly owned 49,696 shares in the company, valued at $1,858,630.40. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 shares were sold at an average price of $37.93, for a total value of $77,984.08.
• On Tuesday, February 17th, Dan Spaulding sold 5,361 shares of Zillow Group stock. The shares were sold at an average price of $43.95, for a total value of $235,615.95.

Zillow Group Trading Up 1.4%

NASDAQ ZG opened at $36.92 on Thursday. The stock’s 50 day moving average is $42.45 and its two-hundred day moving average is $55.72. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 147.68, a PEG ratio of 1.56 and a beta of 2.04. Zillow Group, Inc. has a 1-year low of $35.11 and a 1-year high of $90.22.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.17 million. During the same period in the previous year, the business earned $0.41 earnings per share. The company’s quarterly revenue was up 18.4% on a year-over-year basis. On average, analysts predict that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald reduced their target price on shares of Zillow Group from $56.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. Mizuho reduced their target price on shares of Zillow Group from $65.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. The Goldman Sachs Group set a $53.00 target price on Zillow Group in a report on Thursday, May 7th. Barclays reduced their target price on Zillow Group from $58.00 to $54.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Finally, Benchmark reissued a “buy” rating on shares of Zillow Group in a report on Wednesday, February 11th. Thirteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Zillow Group has an average rating of “Hold” and an average target price of $71.24.

Key Stories Impacting Zillow Group

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

• Positive Sentiment: Jefferies said stronger April housing data could benefit Zillow Group by supporting improved transaction growth in the second quarter, which may help revenue trends if housing activity continues to recover. Zillow seen benefiting from stronger April housing data, says Jefferies
• Positive Sentiment: Zacks highlighted Zillow Group as a top-ranked growth stock, reinforcing that some market participants still view the company’s fundamentals and growth profile favorably. Zillow Group (ZG) is a Top-Ranked Growth Stock: Should You Buy?
• Neutral Sentiment: Insider Dan Spaulding sold shares under a pre-arranged trading plan to cover tax withholding obligations, which is not necessarily a bearish signal but can still weigh on sentiment. Dan Spaulding Sells 2,056 Shares of Zillow Group (NASDAQ:ZG) Stock
• Negative Sentiment: Zillow is facing multiple securities-fraud investigation notices from law firms, creating legal uncertainty and potential headline risk for shareholders. Rosen Law Firm Encourages Zillow Group, Inc. Investors to Inquire About Securities Class Action Investigation – Z, ZG
• Negative Sentiment: Reports that a Midwest listings site suspended its data feed to Zillow suggest possible disruption to Zillow’s listing supply, which could hurt the core marketplace model if the issue spreads. Midwest listings site suspends its data feed to Zillow

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Arax Advisory Partners lifted its position 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 purchasing an additional 354 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Zillow Group by 78.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the technology company’s stock valued at $33,000 after acquiring an additional 187 shares during the period. First Command Advisory Services Inc. acquired a new stake in shares of Zillow Group in the 4th quarter valued at approximately $34,000. EverSource Wealth Advisors LLC raised its position in shares of Zillow Group by 183.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company’s stock valued at $41,000 after acquiring an additional 637 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Zillow Group by 990.3% in the 1st quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company’s stock valued at $42,000 after acquiring an additional 921 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.