Zillow Group, Inc. (NASDAQ:ZG) Insider Dan Spaulding Sells 100,000 Shares

Key Points

• Dan Spaulding, an insider at Zillow Group, sold 100,000 shares at an average price of $85.91, resulting in a total transaction value of $8.59 million, which represents a 59.21% decrease in his ownership.
• Zillow Group reported $0.40 EPS for the last quarter, missing analyst estimates of $0.44, despite a revenue increase of 14.5% year-over-year at $655 million.
• The company's stock was trading down 1.8% and reached $76.12, with a market cap of $18.38 billion and a consensus rating of "Moderate Buy" among analysts.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) insider Dan Spaulding sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were 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 directly owned 68,889 shares of the company's stock, valued at approximately $5,918,253.99. The trade was a 59.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, May 16th, Dan Spaulding sold 5,534 shares of Zillow Group stock. The stock was 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 stock was sold at an average price of $68.66, for a total transaction of $256,719.74.

Zillow Group Stock Performance

Shares of ZG stock traded down $0.13 during trading hours on Thursday, reaching $81.15. The company had a trading volume of 208,267 shares, compared to its average volume of 559,447. The business has a fifty day moving average price of $73.05 and a 200-day moving average price of $70.86. Zillow Group, Inc. has a one year low of $50.65 and a one year high of $86.58. The firm has a market cap of $19.59 billion, a PE ratio of -312.00, a price-to-earnings-growth ratio of 12.51 and a beta of 2.07.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). The business had revenue of $655.00 million during the quarter, compared to analysts' expectations of $647.06 million. Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%. The business's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. Equities research analysts forecast that Zillow Group, Inc. will post 0.32 EPS for the current year.

Hedge Funds Weigh In On Zillow Group

Large investors have recently added to or reduced their stakes in the company. National Bank of Canada FI raised its position in shares of Zillow Group by 79.4% during the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock valued at $33,000 after buying an additional 216 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of Zillow Group during the first quarter valued at approximately $42,000. CX Institutional bought a new stake in shares of Zillow Group during the first quarter valued at approximately $46,000. Wood Tarver Financial Group LLC bought a new stake in shares of Zillow Group during the fourth quarter valued at approximately $70,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Zillow Group by 33.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock valued at $75,000 after buying an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 20.32% of the company's stock.

Wall Street Analysts Forecast Growth

ZG has been the subject of a number of research reports. DA Davidson raised their price target on shares of Zillow Group from $85.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Canaccord Genuity Group set a $84.00 target price on shares of Zillow Group and gave the stock a "hold" rating in a research report on Thursday, August 7th. Royal Bank Of Canada raised their price target on shares of Zillow Group from $88.00 to $95.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Benchmark dropped their price target on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $92.00 price target (up previously from $90.00) on shares of Zillow Group in a research report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.62.

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.