Zillow Group (NASDAQ:ZG) Insider Sells $292,793.57 in Stock

Key Points

• Zillow Group insider Dan Spaulding sold 3,593 shares of stock on August 13, totaling $292,793.57, reducing his stake by 5.22% to 65,296 shares, valued at approximately $5.32 million.
• The company's stock price is currently at $81.36, down 0.2%, with a twelve-month low of $50.65 and a high of $86.58.
• Zillow reported earnings on August 6, with an EPS of $0.40, falling short of expectations, but revenue increased by 14.5% year-over-year, totaling $655 million.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) insider Dan Spaulding sold 3,593 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $81.49, for a total value of $292,793.57. Following the completion of the transaction, the insider directly owned 65,296 shares of the company's stock, valued at approximately $5,320,971.04. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, August 15th, Dan Spaulding sold 5,680 shares of Zillow Group stock. The shares were sold at an average price of $85.22, for a total value of $484,049.60.
• 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 value of $8,591,000.00.

Zillow Group Stock Performance

ZG stock traded down $2.43 during trading on Wednesday, hitting $77.58. The stock had a trading volume of 336,424 shares, compared to its average volume of 542,306. The stock has a market cap of $18.80 billion, a price-to-earnings ratio of -298.38, a price-to-earnings-growth ratio of 15.07 and a beta of 2.07. The company's 50 day moving average price is $74.12 and its two-hundred day moving average price is $70.88. Zillow Group, Inc. has a 1-year low of $51.16 and a 1-year high of $86.58.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in Zillow Group by 42.1% during the fourth quarter. Franklin Resources Inc. now owns 4,739 shares of the technology company's stock valued at $336,000 after acquiring an additional 1,405 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Zillow Group by 13.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 5,137 shares of the technology company's stock valued at $364,000 after purchasing an additional 600 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Zillow Group by 97.8% during the 4th quarter. Renaissance Technologies LLC now owns 62,100 shares of the technology company's stock worth $4,400,000 after purchasing an additional 30,700 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Zillow Group during the 4th quarter worth about $14,916,000. Finally, Sterling Capital Management LLC increased its position in Zillow Group by 57.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,825 shares of the technology company's stock worth $200,000 after purchasing an additional 1,032 shares in the last quarter. Institutional investors and hedge funds own 20.32% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on ZG shares. Canaccord Genuity Group lifted their target price on shares of Zillow Group from $76.00 to $84.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Wells Fargo & Company raised their price objective on Zillow Group from $60.00 to $75.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. upped their target price on Zillow Group from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. KeyCorp reiterated an "overweight" rating and set a $92.00 target price (up from $90.00) on shares of Zillow Group in a research report on Thursday, August 7th. Finally, Benchmark decreased their price target on Zillow Group from $110.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Thirteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $85.62.

Zillow Group Company Profile

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.