Dan Spaulding Sells 100,000 Shares of Zillow Group, Inc. (NASDAQ:Z) Stock

Key Points

• Dan Spaulding, an insider at Zillow Group, sold 100,000 shares at an average price of $85.91, totaling approximately $8.6 million, which represents a 59.21% decrease in his ownership.
• Zillow Group's stock price has recently fallen by 1.9%, currently trading at $79.40, with a market capitalization of $19.17 billion.
• Analysts have mixed sentiments on Zillow Group, with an average rating of "Hold" and a consensus price target of $88.29, reflecting a divergence in expectations among brokerages regarding the stock's performance.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) insider Dan Spaulding sold 100,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $85.91, for a total transaction of $8,591,000.00. Following the completion of the transaction, the insider owned 68,889 shares of the company's stock, valued at approximately $5,918,253.99. This trade represents a 59.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Dan Spaulding also recently made the following trade(s):

• On Friday, May 16th, Dan Spaulding sold 5,534 shares of Zillow Group stock. The shares were sold at an average price of $68.98, for a total transaction of $381,735.32.
• On Wednesday, May 14th, Dan Spaulding sold 3,739 shares of Zillow Group stock. The shares were sold at an average price of $68.66, for a total transaction of $256,719.74.

Zillow Group Stock Up 4.9%

Zillow Group stock traded up $3.89 during mid-day trading on Wednesday, reaching $84.06. The company had a trading volume of 2,970,178 shares, compared to its average volume of 2,658,953. Zillow Group, Inc. has a 52 week low of $51.94 and a 52 week high of $89.39. The company has a 50 day moving average of $75.06 and a 200-day moving average of $72.69. The firm has a market cap of $20.30 billion, a price-to-earnings ratio of -323.33, a PEG ratio of 12.90 and a beta of 2.09.

Wall Street Analyst Weigh In

Z has been the subject of several recent research reports. Wedbush reissued an "outperform" rating and set a $100.00 target price on shares of Zillow Group in a research note on Monday, May 5th. Keefe, Bruyette & Woods cut their target price on shares of Zillow Group from $80.00 to $76.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. Zelman & Associates reissued a "neutral" rating on shares of Zillow Group in a research note on Friday, August 8th. Wells Fargo & Company raised shares of Zillow Group to a "hold" rating in a research note on Monday, April 28th. Finally, Bank of America upped their price target on shares of Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Zillow Group currently has an average rating of "Hold" and an average price target of $88.29.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently made changes to their positions in Z. Brighton Jones LLC increased its position in Zillow Group by 2.5% in the 2nd quarter. Brighton Jones LLC now owns 5,747 shares of the financial services provider's stock valued at $403,000 after acquiring an additional 140 shares in the last quarter. Farther Finance Advisors LLC increased its position in Zillow Group by 25.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 792 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 159 shares in the last quarter. True Vision MN LLC increased its position in Zillow Group by 2.1% in the 2nd quarter. True Vision MN LLC now owns 7,760 shares of the financial services provider's stock valued at $544,000 after acquiring an additional 161 shares in the last quarter. DoubleLine ETF Adviser LP increased its position in Zillow Group by 1.5% in the 4th quarter. DoubleLine ETF Adviser LP now owns 10,868 shares of the financial services provider's stock valued at $805,000 after acquiring an additional 163 shares in the last quarter. Finally, Flynn Zito Capital Management LLC increased its position in Zillow Group by 4.5% in the 1st quarter. Flynn Zito Capital Management LLC now owns 3,856 shares of the financial services provider's stock valued at $264,000 after acquiring an additional 166 shares in the last quarter. 71.01% of the stock is owned by institutional investors.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.