Zillow Group (NASDAQ:Z) Insider Dan Spaulding Sells 3,078 Shares

Key Points

• Insider sale: Zillow Group insider Dan Spaulding sold 3,078 shares at an average price of $37.40, totaling about $115,117. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding related to equity vesting.
• Stock performance and valuation: Zillow shares fell 1.3% to $37.17, near their 52-week low of $36.76. The stock remains well below its 50-day and 200-day moving averages, and the company has a market cap of $8.50 billion.
• Recent results and analyst view: Zillow beat first-quarter earnings expectations with EPS of $0.53 versus $0.43 expected, while revenue also slightly topped estimates. Analysts currently rate the stock a Moderate Buy with an average price target of $79.75.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) insider Dan Spaulding sold 3,078 shares of the business's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total transaction of $115,117.20. Following the sale, the insider owned 49,696 shares in the company, valued at $1,858,630.40. This trade represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 Thursday, May 14th, Dan Spaulding sold 2,056 shares of Zillow Group stock. The stock was sold at an average price of $37.93, for a total transaction of $77,984.08.
• 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 NASDAQ Z traded down $0.49 during midday trading on Monday, reaching $37.17. The company's stock had a trading volume of 4,276,990 shares, compared to its average volume of 4,084,120. The company has a 50 day moving average price of $42.97 and a 200 day moving average price of $57.12. Zillow Group, Inc. has a one year low of $36.76 and a one year high of $93.88. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 148.68, a price-to-earnings-growth ratio of 1.76 and a beta of 2.07.

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

Analyst Ratings Changes

Z has been the topic of a number of recent analyst reports. Needham & Company LLC restated a "hold" rating on shares of Zillow Group in a report on Wednesday, February 11th. Keefe, Bruyette & Woods dropped their price objective on shares of Zillow Group from $60.00 to $50.00 and set a "market perform" rating on the stock in a research note on Thursday, May 7th. JPMorgan Chase & Co. dropped their price objective on shares of Zillow Group from $84.00 to $76.00 and set an "overweight" rating on the stock in a research note on Thursday, May 7th. Weiss Ratings raised shares of Zillow Group from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Zillow Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Three equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $79.75.

Hedge Funds Weigh In On Zillow Group

Large investors have recently bought and sold shares of the stock. Jain Global LLC acquired a new position in Zillow Group during the 3rd quarter valued at $6,220,000. Rakuten Investment Management Inc. acquired a new position in shares of Zillow Group in the 3rd quarter valued at $2,919,000. Coronation Fund Managers Ltd. acquired a new stake in shares of Zillow Group during the 3rd quarter worth about $18,141,000. Y Intercept Hong Kong Ltd increased its position in shares of Zillow Group by 63.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 85,210 shares of the financial services provider's stock worth $6,565,000 after purchasing an additional 32,975 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Zillow Group by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider's stock worth $1,777,841,000 after purchasing an additional 71,336 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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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