Zillow Group (NASDAQ:Z) Insider Dan Spaulding Sells 3,169 Shares of Stock

Zillow Group, Inc. (NASDAQ:Z) insider Dan Spaulding sold 3,169 shares of the business’s stock in a transaction that occurred 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 sale, the insider owned 44,561 shares of the company’s stock, valued at $1,576,122.57. This represents a 6.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 opened at $33.72 on Tuesday. The firm’s fifty day moving average price is $32.89 and its 200 day moving average price is $39.95. Zillow Group, Inc. has a 12 month low of $29.23 and a 12 month high of $93.88. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 153.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.98.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $758.10 million. As a group, sell-side analysts forecast that Zillow Group, Inc. will post 0.89 earnings per share for the current year.

Institutional Investors Weigh In On Zillow Group

Several large investors have recently modified their holdings of the stock. IFC & Insurance Marketing Inc. acquired a new stake in shares of Zillow Group during the fourth quarter worth $68,000. SBI Okasan Asset Management Co.Ltd. acquired a new position in Zillow Group in the 4th quarter valued at $71,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in Zillow Group by 34.5% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider’s stock valued at $80,000 after buying an additional 300 shares during the period. Advisory Services Network LLC purchased a new position in Zillow Group during the 3rd quarter worth $99,000. Finally, Leonteq Securities AG lifted its stake in shares of Zillow Group by 627.0% in the 1st quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 1,160 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on Z. Morgan Stanley set a $60.00 target price on Zillow Group in a report on Thursday, August 6th. Sanford C. Bernstein lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. UBS Group reduced their price objective on Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Evercore downgraded Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Finally, Weiss Ratings lowered shares of Zillow Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.75.

Key Stories Impacting Zillow Group

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

• Neutral Sentiment: CEO Jeremy Wacksman sold a combined 15,125 shares for approximately $517,320, while retaining 138,574 shares after the latest sale. The transactions reduced his holdings but were explicitly tied to tax obligations under a pre-arranged plan. CEO Form 4 filing
• Neutral Sentiment: CFO Jeremy Hofmann sold 9,171 shares worth about $313,675 across two transactions and continued to own 59,144 shares. The sales were also conducted under a 10b5-1 plan for tax withholding. CFO Form 4 filing
• Negative Sentiment: Several additional executives and insiders sold shares, bringing reported sales to 35,373 shares worth approximately $1.21 million. Dan Spaulding, Errol G. Samuelson, Jennifer Rock and David A. Beitel all reduced their holdings, creating a potentially negative near-term sentiment signal because of the number of insiders selling at roughly $34.24–$35.37 per share. The tax-related purpose substantially reduces the bearish significance. Insider Form 4 filings

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.