Zillow Group (NASDAQ:Z) CTO David Beitel Sells 1,879 Shares of Stock

Zillow Group, Inc. (NASDAQ:Z) CTO David Beitel sold 1,879 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $37.93, for a total transaction of $71,270.47. Following the completion of the transaction, the chief technology officer directly owned 134,811 shares of the company’s stock, valued at $5,113,381.23. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Stock Up 0.8%

Shares of Zillow Group stock opened at $37.66 on Friday. Zillow Group, Inc. has a 52 week low of $36.76 and a 52 week high of $93.88. The firm has a market capitalization of $8.62 billion, a P/E ratio of 150.64, a PEG ratio of 1.75 and a beta of 2.07. The company has a 50 day moving average price of $42.97 and a 200 day moving average price of $57.26.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share (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 company had revenue of $708.00 million during the quarter, compared to analyst estimates of $705.10 million. As a group, research analysts anticipate that Zillow Group, Inc. will post 0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors have recently added to or reduced their stakes in Z. Root Financial Partners LLC acquired a new stake in Zillow Group in the 3rd quarter valued at $27,000. V Square Quantitative Management LLC acquired a new stake in Zillow Group in the 4th quarter valued at $28,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Zillow Group in the 3rd quarter valued at $29,000. Cullen Frost Bankers Inc. grew its stake in Zillow Group by 58.6% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 163 shares during the period. Finally, Pittenger & Anderson Inc. grew its stake in Zillow Group by 32.8% in the 3rd quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on Z. Keefe, Bruyette & Woods reduced their price target on shares of Zillow Group from $60.00 to $50.00 and set a “market perform” rating for the company in a research report on Thursday, May 7th. JPMorgan Chase & Co. reduced their price target on shares of Zillow Group from $84.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Zacks Research raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Zillow Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, 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. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.75.

Key Zillow Group News

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

• Positive Sentiment: Zillow published new survey data supporting its marketplace strategy, showing most soon-to-be sellers prefer broad public exposure over private listing networks. The findings reinforce Zillow’s argument that full-market visibility and real-time demand signals help sellers achieve better outcomes. Article Title
• Neutral Sentiment: Zillow CEO Jeremy Wacksman was featured in an interview about the company’s evolution from a desktop-only search engine into a major real-estate app. The article is more of a branding/strategy profile than a near-term financial catalyst. Article Title
• Negative Sentiment: General Counsel Bradley D. Owens sold shares on May 14 and May 15, though the trades were made under a pre-arranged Rule 10b5-1 plan and were tied to tax withholding from vesting equity awards. Insider sales can still weigh on sentiment when the stock is already under legal scrutiny.
• Negative Sentiment: Several plaintiff-side law firms announced investigations into Zillow, increasing the risk of distraction, legal costs, and possible headline pressure on the shares. Article Title

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.