Dan Spaulding Sells 4,565 Shares of Zillow Group, Inc. (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) insider Dan Spaulding sold 4,565 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $86.22, for a total value of $393,594.30. Following the transaction, the insider now directly owns 58,217 shares in the company, valued at $5,019,469.74. This represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Zillow Group Stock Performance

ZG opened at $80.89 on Wednesday. The firm has a market capitalization of $18.89 billion, a PE ratio of -141.91 and a beta of 2.08. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. Zillow Group, Inc. has a twelve month low of $38.06 and a twelve month high of $83.67. The firm’s 50-day moving average price is $65.89 and its 200 day moving average price is $54.52.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The business had revenue of $581.00 million during the quarter, compared to analyst estimates of $555.45 million. During the same period in the prior year, the business earned ($0.12) earnings per share. The business’s revenue was up 17.1% compared to the same quarter last year. As a group, sell-side analysts expect that Zillow Group, Inc. will post -0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ZG. Virtu Financial LLC raised its position in Zillow Group by 132.1% in the third quarter. Virtu Financial LLC now owns 208,773 shares of the technology company’s stock valued at $12,929,000 after purchasing an additional 118,830 shares during the period. Synergy Financial Group LTD acquired a new stake in shares of Zillow Group during the third quarter valued at about $271,000. Geode Capital Management LLC raised its stake in shares of Zillow Group by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,025,060 shares of the technology company’s stock valued at $63,523,000 after acquiring an additional 32,766 shares during the period. M&T Bank Corp acquired a new position in shares of Zillow Group in the 3rd quarter worth approximately $258,000. Finally, State Street Corp boosted its position in shares of Zillow Group by 0.4% during the 3rd quarter. State Street Corp now owns 805,279 shares of the technology company’s stock worth $49,871,000 after purchasing an additional 2,832 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. DA Davidson upped their price objective on shares of Zillow Group from $71.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $47.00 price target on shares of Zillow Group in a report on Monday, October 7th. The Goldman Sachs Group boosted their price objective on shares of Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Evercore ISI upped their target price on Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Citigroup lifted their price target on Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $70.94.

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.