Zillow Group Inc (NASDAQ:Z) was down 5.3% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $34.74 and last traded at $34.82, approximately 3,711,574 shares changed hands during mid-day trading. An increase of 21% from the average daily volume of 3,063,443 shares. The stock had previously closed at $36.77.
Specifically, insider Jeremy Wacksman sold 1,855 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $40.93, for a total value of $75,925.15. Following the completion of the transaction, the insider now directly owns 39,075 shares in the company, valued at approximately $1,599,339.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Spencer M. Rascoff sold 94,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $45.30, for a total value of $4,258,200.00. Following the completion of the transaction, the director now owns 106,000 shares of the company’s stock, valued at $4,801,800. The disclosure for this sale can be found here. Insiders sold a total of 228,994 shares of company stock valued at $10,268,403 over the last quarter. Company insiders own 19.87% of the company’s stock.
A number of equities analysts have recently issued reports on Z shares. Standpoint Research cut Zillow Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Bank of America upped their price objective on Zillow Group from $31.00 to $35.00 and gave the stock an “underperform” rating in a report on Friday, May 10th. Morgan Stanley cut their price objective on Zillow Group from $39.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. ValuEngine upgraded Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, BidaskClub cut Zillow Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $41.26.
Zillow Group (NASDAQ:Z) last released its earnings results on Wednesday, August 7th. The financial services provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.21). Zillow Group had a negative net margin of 13.49% and a negative return on equity of 5.11%. The company had revenue of $599.58 million during the quarter.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. grew its position in shares of Zillow Group by 30.1% during the 4th quarter. Advisor Group Inc. now owns 1,447 shares of the financial services provider’s stock worth $44,000 after buying an additional 335 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Zillow Group by 27.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 568,288 shares of the financial services provider’s stock worth $17,947,000 after buying an additional 122,884 shares during the period. Stifel Financial Corp acquired a new position in shares of Zillow Group during the 4th quarter worth about $313,000. Geode Capital Management LLC grew its position in shares of Zillow Group by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 1,224,472 shares of the financial services provider’s stock worth $38,642,000 after buying an additional 47,328 shares during the period. Finally, DNB Asset Management AS grew its position in shares of Zillow Group by 7.5% during the 1st quarter. DNB Asset Management AS now owns 11,543 shares of the financial services provider’s stock worth $401,000 after buying an additional 807 shares during the period. 78.43% of the stock is owned by institutional investors.
About Zillow Group (NASDAQ:Z)
Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.
Further Reading: Quiet Period
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