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

Key Points

• Dan Spaulding sold 1,966 Zillow Group shares for approximately $67,316 to cover tax withholding related to vested equity awards, reducing his position by 3.96%. He also sold 3,169 shares the following day for about $112,088.
• Zillow reported quarterly revenue of $772 million and earnings of $0.52 per share, exceeding analyst estimates of $758.25 million and $0.44, respectively; revenue increased 17.9% year over year.
• Zillow shares traded near $34.32, while analysts maintained an overall “Hold” rating with an average price target of $52.29. Recent target reductions included Benchmark, Piper Sandler, JPMorgan and Susquehanna.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) insider Dan Spaulding sold 1,966 shares of the business's stock in a transaction dated 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 directly owned 47,730 shares of the company's stock, valued at approximately $1,634,275.20. The trade was a 3.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $112,087.53.

Zillow Group Stock Performance

Shares of Zillow Group stock traded down $0.84 during midday trading on Monday, hitting $34.32. 1,454,360 shares of the company traded hands, compared to its average volume of 1,202,979. The firm's fifty day moving average price is $33.03 and its 200-day moving average price is $40.23. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 156.01, a PEG ratio of 1.53 and a beta of 1.95. Zillow Group, Inc. has a 12 month low of $29.03 and a 12 month high of $90.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.44 by $0.08. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The business had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.25 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The firm's revenue was up 17.9% compared to the same quarter last year. Equities research analysts forecast that Zillow Group, Inc. will post 0.89 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. M&T Bank Corp grew its position in shares of Zillow Group by 38,344.0% in the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company's stock valued at $120,092,000 after buying an additional 1,600,097 shares during the last quarter. Polianta Ltd acquired a new stake in shares of Zillow Group in the first quarter valued at about $1,494,000. Independent Franchise Partners LLP raised its position in shares of Zillow Group by 1.1% during the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company's stock worth $138,135,000 after acquiring an additional 21,862 shares during the last quarter. Deltroit Asset Management UK LLP acquired a new position in shares of Zillow Group in the fourth quarter worth approximately $2,715,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Zillow Group in the second quarter worth approximately $1,546,000. 20.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Zacks Research cut Zillow Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Benchmark reduced their price target on Zillow Group from $110.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Piper Sandler lowered their price objective on Zillow Group from $55.00 to $46.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. JPMorgan Chase & Co. dropped their price objective on shares of Zillow Group from $76.00 to $62.00 and set an "overweight" rating for the company in a report on Tuesday, August 11th. Finally, Susquehanna cut their target price on shares of Zillow Group from $50.00 to $38.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $52.29.

About Zillow Group

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.

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