Zillow Group (NASDAQ:ZG) Insider Sells $77,984.08 in Stock

Zillow Group, Inc. (NASDAQ:ZG) insider Dan Spaulding sold 2,056 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $37.93, for a total value of $77,984.08. Following the completion of the sale, the insider owned 52,774 shares of the company’s stock, valued at $2,001,717.82. This trade represents a 3.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 shares were sold at an average price of $37.40, for a total value of $115,117.20.
• On Tuesday, February 17th, Dan Spaulding sold 5,361 shares of Zillow Group stock. The shares were sold at an average price of $43.95, for a total value of $235,615.95.

Zillow Group Trading Up 1.4%

Shares of NASDAQ ZG opened at $36.92 on Thursday. Zillow Group, Inc. has a twelve month low of $35.11 and a twelve month high of $90.22. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 147.68, a price-to-earnings-growth ratio of 1.56 and a beta of 2.04. The business has a 50 day simple moving average of $42.45 and a 200-day simple moving average of $55.72.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The business had revenue of $708.00 million during the quarter, compared to analyst estimates of $705.17 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, equities analysts predict that Zillow Group, Inc. will post 0.9 earnings per share for the current year.

Key Zillow Group News

Here are the key news stories impacting Zillow Group this week:

• Positive Sentiment: Jefferies said stronger April housing data could benefit Zillow Group by supporting improved transaction growth in the second quarter, which may help revenue trends if housing activity continues to recover. Zillow seen benefiting from stronger April housing data, says Jefferies
• Positive Sentiment: Zacks highlighted Zillow Group as a top-ranked growth stock, reinforcing that some market participants still view the company’s fundamentals and growth profile favorably. Zillow Group (ZG) is a Top-Ranked Growth Stock: Should You Buy?
• Neutral Sentiment: Insider Dan Spaulding sold shares under a pre-arranged trading plan to cover tax withholding obligations, which is not necessarily a bearish signal but can still weigh on sentiment. Dan Spaulding Sells 2,056 Shares of Zillow Group (NASDAQ:ZG) Stock
• Negative Sentiment: Zillow is facing multiple securities-fraud investigation notices from law firms, creating legal uncertainty and potential headline risk for shareholders. Rosen Law Firm Encourages Zillow Group, Inc. Investors to Inquire About Securities Class Action Investigation – Z, ZG
• Negative Sentiment: Reports that a Midwest listings site suspended its data feed to Zillow suggest possible disruption to Zillow’s listing supply, which could hurt the core marketplace model if the issue spreads. Midwest listings site suspends its data feed to Zillow

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Zillow Group during the 4th quarter worth $152,050,000. Independent Franchise Partners LLP boosted its position in Zillow Group by 1.1% during the 4th 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 period. M&T Bank Corp boosted its position in Zillow Group by 38,344.0% during the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after acquiring an additional 1,600,097 shares during the period. Tiger Global Management LLC boosted its position in Zillow Group by 30.7% during the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock worth $69,849,000 after acquiring an additional 240,690 shares during the period. Finally, UBS Group AG boosted its position in Zillow Group by 44.5% during the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock worth $69,489,000 after acquiring an additional 313,643 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ZG. Citigroup reduced their price objective on Zillow Group from $78.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Mizuho reduced their price objective on Zillow Group from $65.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Piper Sandler reduced their price objective on Zillow Group from $70.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Evercore restated an “outperform” rating on shares of Zillow Group in a research report on Tuesday, March 17th. Finally, Susquehanna set a $50.00 price objective on Zillow Group in a research report on Thursday, February 12th. Thirteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $71.24.

Zillow Group Company Profile

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.