Zillow Group (NASDAQ:Z) Insider Dan Spaulding Sells 2,056 Shares

Key Points

• Insider sale: Zillow Group insider Dan Spaulding sold 2,056 shares on May 14 at an average price of $37.93, totaling about $77,984. The sale was part of a pre-arranged Rule 10b5-1 plan and was tied to tax withholding from vested equity awards.
• Stock performance: Zillow shares fell 1.3% to $37.17, near their 52-week low of $36.76 and well below the 52-week high of $93.88. Trading volume was slightly above average.
• Fundamentals and analyst view: Zillow recently beat quarterly EPS expectations and slightly exceeded revenue estimates, while analysts currently have a Moderate Buy consensus with an average target price of $79.75.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) insider Dan Spaulding sold 2,056 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $37.93, for a total transaction of $77,984.08. Following the transaction, the insider owned 52,774 shares in the company, valued at approximately $2,001,717.82. This trade represents a 3.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 Monday, May 18th, Dan Spaulding sold 3,078 shares of Zillow Group stock. The stock was sold at an average price of $37.40, for a total transaction of $115,117.20.
• On Tuesday, February 17th, Dan Spaulding sold 5,361 shares of Zillow Group stock. The stock was sold at an average price of $43.95, for a total transaction of $235,615.95.

Zillow Group Trading Down 1.3%

Shares of Zillow Group stock traded down $0.49 on Monday, reaching $37.17. 4,276,990 shares of the stock were exchanged, compared to its average volume of 4,084,120. Zillow Group, Inc. has a 1-year low of $36.76 and a 1-year high of $93.88. The business has a fifty day moving average price of $42.97 and a two-hundred day moving average price of $57.12. The firm has a market capitalization of $8.50 billion, a PE ratio of 148.68, a PEG ratio of 1.76 and a beta of 2.07.

Zillow Group (NASDAQ:Z - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.10. The business had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.10 million. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. Research analysts expect that Zillow Group, Inc. will post 0.82 EPS for the current year.

Institutional Trading of Zillow Group

Institutional investors and hedge funds have recently modified their holdings of the business. Jain Global LLC purchased a new stake in shares of Zillow Group in the third quarter valued at about $6,220,000. Rakuten Investment Management Inc. purchased a new stake in shares of Zillow Group in the third quarter valued at about $2,919,000. Coronation Fund Managers Ltd. purchased a new stake in shares of Zillow Group in the third quarter valued at about $18,141,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Zillow Group by 63.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 85,210 shares of the financial services provider's stock valued at $6,565,000 after purchasing an additional 32,975 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Zillow Group by 0.3% in the third quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider's stock valued at $1,777,841,000 after purchasing an additional 71,336 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Analyst Upgrades and Downgrades

Z has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Zillow Group from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Zacks Research raised shares of Zillow Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. decreased their price objective on shares of Zillow Group from $84.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Needham & Company LLC reissued a "hold" rating on shares of Zillow Group in a report on Wednesday, February 11th. Finally, Barclays raised shares of Zillow Group from a "strong sell" rating to a "hold" rating in a report on Thursday, January 29th. Three research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Zillow Group has a consensus rating of "Moderate Buy" and an average target price of $79.75.

About Zillow Group

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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