Insider Selling: Zillow Group (NASDAQ:ZG) Insider Sells $67,315.84 in Stock

Zillow Group, Inc. (NASDAQ:ZG) insider Dan Spaulding sold 1,966 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total value of $67,315.84. Following the transaction, the insider owned 47,730 shares in the company, valued at approximately $1,634,275.20. This trade represents a 3.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Friday, August 14th, Dan Spaulding sold 3,169 shares of Zillow Group stock. The shares were sold at an average price of $35.37, for a total value of $112,087.53.

Zillow Group Stock Performance

NASDAQ:ZG opened at $37.44 on Thursday. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 170.19, a PEG ratio of 1.54 and a beta of 1.95. Zillow Group, Inc. has a fifty-two week low of $29.03 and a fifty-two week high of $90.22. The stock has a fifty day moving average price of $33.07 and a 200-day moving average price of $39.60.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter last year, the business earned $0.40 earnings per share. Research analysts predict that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Institutional Trading of Zillow Group

A number of hedge funds and other institutional investors have recently modified their holdings of ZG. AQR Capital Management LLC lifted its stake in shares of Zillow Group by 40.5% in the 1st quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock valued at $862,000 after acquiring an additional 3,717 shares during the last quarter. Millennium Management LLC grew its position in Zillow Group by 110.8% during the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock worth $19,456,000 after acquiring an additional 152,955 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Zillow Group by 7.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock worth $5,878,000 after acquiring an additional 5,737 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Zillow Group by 5.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company’s stock worth $1,445,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in Zillow Group by 16.3% in the second quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company’s stock valued at $543,000 after purchasing an additional 1,110 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ZG. Cantor Fitzgerald dropped their target price on shares of Zillow Group from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. The Goldman Sachs Group decreased their price objective on shares of Zillow Group from $53.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, June 12th. Zacks Research downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Citizens Jmp cut their target price on Zillow Group from $75.00 to $46.00 and set a “market outperform” rating for the company in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. decreased their price target on Zillow Group from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $52.29.

Zillow Group Company Profile

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.