Insider Selling: Zillow Group (NASDAQ:ZG) Insider Sells 5,680 Shares of Stock

Key Points

• Dan Spaulding, a Zillow Group insider, sold 5,680 shares at an average price of $85.22, totaling approximately $484,049.60, which reduced his ownership by 8.70%.
• Zillow Group reported a $0.40 EPS for the last quarter, missing analysts' estimates by $0.04, while revenues were up 14.5% year-over-year at $655.00 million.
• The stock currently holds an average rating of "Hold" from analysts, with a consensus price target of $85.62 after several target price adjustments from different firms.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) insider Dan Spaulding sold 5,680 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $85.22, for a total value of $484,049.60. Following the sale, the insider directly owned 59,616 shares in the company, valued at $5,080,475.52. This trade represents a 8.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, August 13th, Dan Spaulding sold 3,593 shares of Zillow Group stock. The shares were sold at an average price of $81.49, for a total value of $292,793.57.
• On Thursday, August 7th, Dan Spaulding sold 100,000 shares of Zillow Group stock. The stock was sold at an average price of $85.91, for a total transaction of $8,591,000.00.

Zillow Group Price Performance

Shares of NASDAQ:ZG traded down $2.43 during trading on Wednesday, hitting $77.58. 336,424 shares of the company were exchanged, compared to its average volume of 542,306. The firm's 50 day moving average price is $74.12 and its 200-day moving average price is $70.88. Zillow Group, Inc. has a 12-month low of $51.16 and a 12-month high of $86.58. The stock has a market capitalization of $18.80 billion, a P/E ratio of -298.38, a PEG ratio of 15.07 and a beta of 2.07.

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

Analyst Ratings Changes

Several research analysts have commented on ZG shares. Susquehanna reaffirmed a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. KeyCorp reaffirmed an "overweight" rating and issued a $92.00 target price (up from $90.00) on shares of Zillow Group in a report on Thursday, August 7th. Zelman & Associates upgraded shares of Zillow Group to a "hold" rating in a research report on Friday, August 8th. Wells Fargo & Company lifted their price objective on shares of Zillow Group from $60.00 to $75.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Benchmark reduced their target price on shares of Zillow Group from $110.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Thirteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $85.62.

Institutional Trading of Zillow Group

Several hedge funds have recently made changes to their positions in the company. National Bank of Canada FI increased its stake 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 worth $33,000 after acquiring an additional 216 shares during the period. Salem Investment Counselors Inc. acquired a new stake in Zillow Group in the first quarter valued at about $42,000. CX Institutional purchased a new stake in Zillow Group in the 1st quarter valued at approximately $46,000. Wood Tarver Financial Group LLC acquired a new position in Zillow Group during the 4th quarter worth approximately $70,000. Finally, PNC Financial Services Group Inc. increased its position in Zillow Group by 33.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock worth $75,000 after purchasing an additional 280 shares during the period. Institutional investors and hedge funds own 20.32% of the company's stock.

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.