Zillow Group (NASDAQ:Z) CTO Sells $71,270.47 in Stock

Zillow Group, Inc. (NASDAQ:Z) CTO David Beitel sold 1,879 shares of Zillow Group stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $37.93, for a total transaction of $71,270.47. Following the transaction, the chief technology officer owned 134,811 shares of the company’s stock, valued at approximately $5,113,381.23. The trade was a 1.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Stock Up 0.8%

Shares of Z traded up $0.29 during mid-day trading on Friday, reaching $37.66. 3,075,721 shares of the company’s stock were exchanged, compared to its average volume of 4,082,034. Zillow Group, Inc. has a 52-week low of $36.76 and a 52-week high of $93.88. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 150.64, a PEG ratio of 1.80 and a beta of 2.07. The company has a 50-day simple moving average of $43.14 and a two-hundred day simple moving average of $57.40.

Zillow Group (NASDAQ:Z) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The firm had revenue of $708.00 million for the quarter, compared to analysts’ expectations of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. As a group, equities research analysts predict that Zillow Group, Inc. will post 0.82 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Zillow Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pittenger & Anderson Inc. increased its position in Zillow Group by 32.8% during the third quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 135 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ increased its position in Zillow Group by 0.3% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 48,575 shares of the financial services provider’s stock worth $3,743,000 after purchasing an additional 144 shares during the last quarter. Cullen Frost Bankers Inc. increased its position in Zillow Group by 58.6% during the third quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 163 shares during the last quarter. Doliver Advisors LP increased its position in Zillow Group by 1.8% during the fourth quarter. Doliver Advisors LP now owns 9,687 shares of the financial services provider’s stock worth $661,000 after purchasing an additional 171 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Zillow Group by 4.7% in the 1st quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Analysts Set New Price Targets

Z has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Zillow Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a report on Wednesday, February 11th. Barclays upgraded Zillow Group from a “strong sell” rating to a “hold” rating in a report on Thursday, January 29th. Zelman & Associates upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. reduced their target price on Zillow Group from $84.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.75.

Zillow Group Company Profile

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.