Zillow Group (NASDAQ:Z) Shares Down 2.7% on Insider Selling

Shares of Zillow Group, Inc. (NASDAQ:Z) fell 2.7% on Friday after an insider sold shares in the company. The company traded as low as $39.54 and last traded at $39.63. 740,520 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 2,984,497 shares. The stock had previously closed at $40.71.

Specifically, General Counsel Bradley D. Owens sold 1,227 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $40.86, for a total value of $50,135.22. Following the completion of the sale, the general counsel now directly owns 22,809 shares of the company’s stock, valued at approximately $931,975.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Bradley D. Owens sold 1,227 shares of Zillow Group stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $40.86, for a total transaction of $50,135.22. Following the completion of the sale, the general counsel now directly owns 22,809 shares in the company, valued at approximately $931,975.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jeremy Wacksman sold 3,125 shares of Zillow Group stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $40.72, for a total transaction of $127,250.00. Following the sale, the chief operating officer now owns 73,965 shares of the company’s stock, valued at $3,011,854.80. The disclosure for this sale can be found here. Insiders sold a total of 68,505 shares of company stock valued at $2,943,479 over the last three months. 15.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on Z shares. TheStreet downgraded shares of Zillow Group from a “c-” rating to a “d+” rating in a research report on Thursday, October 5th. Morgan Stanley cut their target price on shares of Zillow Group from $55.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 7th. Wells Fargo & Company lifted their target price on shares of Zillow Group from $50.00 to $55.00 in a research report on Friday, August 4th. Finally, Jefferies Financial Group lifted their target price on shares of Zillow Group from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $49.75.

Zillow Group Stock Down 4.0 %

The firm’s 50 day moving average is $42.32 and its two-hundred day moving average is $47.22. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of -58.34 and a beta of 1.73. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.23.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in Z. FMR LLC increased its stake in Zillow Group by 203.1% in the third quarter. FMR LLC now owns 3,450,713 shares of the financial services provider’s stock valued at $159,285,000 after purchasing an additional 2,312,241 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Zillow Group by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 23,675,244 shares of the financial services provider’s stock worth $1,166,953,000 after buying an additional 1,837,593 shares during the last quarter. Ninety One UK Ltd acquired a new stake in shares of Zillow Group during the 3rd quarter worth $67,777,000. Pacer Advisors Inc. increased its holdings in shares of Zillow Group by 25.7% during the 1st quarter. Pacer Advisors Inc. now owns 6,221,674 shares of the financial services provider’s stock worth $276,678,000 after buying an additional 1,271,544 shares during the last quarter. Finally, Southpoint Capital Advisors LP acquired a new stake in shares of Zillow Group during the 1st quarter worth $44,470,000. Institutional investors and hedge funds own 71.17% of the company’s stock.

About Zillow Group

Zillow Group, Inc operates real estate brands on mobile applications and Websites in the United States. The company operates through Internet, Media & Technology (IMT); Mortgages; and Homes segments. Its IMT segment offers premier agent and rentals marketplaces, as well as other services, which includes new construction marketplace, advertising, and business technology solutions, as well as display and dotloop and floor plans.