Dan Spaulding Sells 1,966 Shares of Zillow Group (NASDAQ:Z) Stock

Key Points

• Insider sale: Dan Spaulding sold 1,966 Zillow Group shares for approximately $67,316, reducing his position by 3.96%; the sale covered tax withholding related to vested equity awards. He also sold an additional 3,169 shares the following day.
• Stock performance: Zillow shares fell 3.0% to $33.72, well below their 200-day moving average of $40.19 and 12-month high of $93.88.
• Financial and analyst outlook: Zillow exceeded quarterly earnings and revenue estimates, while analysts maintained a “Moderate Buy” consensus with a $66.75 target price. Institutional investors own approximately 71% of the company.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) insider Dan Spaulding sold 1,966 shares of Zillow Group stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction 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 filing with the SEC, which is available through the SEC website. 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 stock was sold at an average price of $35.37, for a total value of $112,087.53.

Zillow Group Stock Down 3.0%

NASDAQ:Z traded down $1.06 on Monday, reaching $33.72. 5,034,691 shares of the company's stock traded hands, compared to its average volume of 4,238,369. The stock has a 50-day simple moving average of $32.91 and a 200-day simple moving average of $40.19. The firm has a market cap of $7.72 billion, a PE ratio of 153.28, a P/E/G ratio of 1.51 and a beta of 1.98. Zillow Group, Inc. has a 12 month low of $29.23 and a 12 month high of $93.88.

Zillow Group (NASDAQ:Z - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The firm had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.10 million. On average, equities analysts anticipate that Zillow Group, Inc. will post 0.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on Z shares. Weiss Ratings lowered shares of Zillow Group from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, May 22nd. Evercore downgraded shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Zillow Group from $80.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. cut their target price on shares of Zillow Group from $76.00 to $62.00 and set an "overweight" rating for the company in a research note on Tuesday, August 11th. Finally, Morgan Stanley set a $60.00 price target on shares of Zillow Group in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $66.75.

Institutional Trading of Zillow Group

Large investors have recently added to or reduced their stakes in the company. Leonteq Securities AG raised its holdings in shares of Zillow Group by 627.0% during 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Zillow Group by 283.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 1,045 shares in the last quarter. IFC & Insurance Marketing Inc. purchased a new position in shares of Zillow Group in the fourth quarter valued at $68,000. SBI Okasan Asset Management Co.Ltd. bought a new stake in Zillow Group in the fourth quarter worth $71,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in Zillow Group by 34.5% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider's stock worth $80,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Zillow Group Company Profile

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.

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