David Beitel Sells 3,966 Shares of Zillow Group (NASDAQ:ZG) Stock

Zillow Group, Inc. (NASDAQ:ZG) CTO David Beitel sold 3,966 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $44.22, for a total value of $175,376.52. Following the completion of the sale, the chief technology officer directly owned 136,690 shares in the company, valued at approximately $6,044,431.80. This trade represents a 2.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Zillow Group Price Performance

Shares of ZG opened at $43.30 on Friday. Zillow Group, Inc. has a 12 month low of $42.25 and a 12 month high of $90.22. The stock has a fifty day moving average price of $64.81 and a 200 day moving average price of $71.78. The company has a market cap of $10.48 billion, a P/E ratio of 481.16, a PEG ratio of 3.21 and a beta of 2.04.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Tuesday, February 10th. The technology company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. The company had revenue of $654.00 million during the quarter, compared to the consensus estimate of $650.40 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. As a group, research analysts anticipate that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Zillow Group during the 2nd quarter valued at about $159,770,000. M&T Bank Corp boosted its holdings in Zillow Group by 38,344.0% during the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after buying an additional 1,600,097 shares in the last quarter. UBS Group AG grew its position in Zillow Group by 44.5% in the fourth quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock worth $69,489,000 after buying an additional 313,643 shares during the last quarter. Virtu Financial LLC grew its position in Zillow Group by 271.9% in the third quarter. Virtu Financial LLC now owns 293,718 shares of the technology company’s stock worth $21,864,000 after buying an additional 214,743 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Zillow Group by 60.1% in the third quarter. Wellington Management Group LLP now owns 557,735 shares of the technology company’s stock valued at $41,518,000 after buying an additional 209,312 shares in the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company reduced their price target on Zillow Group from $73.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 10th. Robert W. Baird set a $67.00 price objective on shares of Zillow Group in a report on Wednesday. Sanford C. Bernstein decreased their target price on shares of Zillow Group from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, January 12th. Piper Sandler restated an “overweight” rating and set a $70.00 price target (down from $85.00) on shares of Zillow Group in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their price target on shares of Zillow Group from $78.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday. Fifteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Zillow Group presently has an average rating of “Moderate Buy” and a consensus price target of $78.43.

Trending Headlines about Zillow Group

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

• Positive Sentiment: Zillow highlights a profitability milestone and faster rentals growth, which supports the company’s longer?term path to sustainable earnings. Zillow Group Profitability Milestone Highlights Rentals Growth And Valuation Gap
• Neutral Sentiment: Citigroup cut its price target (from $100 to $78) but maintained a Buy rating, keeping upside expectations though at a lower valuation. Benzinga: Citigroup price target note
• Neutral Sentiment: Analyst commentary and features discuss potential catalysts and valuation tradeoffs — useful for investors weighing near?term legal/earnings headwinds versus longer?term revenue momentum. What Catalysts Are Recasting The Story For Zillow Group (ZG)?
• Negative Sentiment: Q4 adjusted EPS missed expectations (reported roughly $0.39 vs. consensus ~ $0.42), prompting heavy selling pressure and a sharp weekly decline. Earnings execution shortfall is the primary near?term catalyst for the share drop. Zillow Stock Drops Nearly 20% This Week After Earnings Miss
• Negative Sentiment: Several analysts trimmed targets and/or ratings (Wells Fargo cut its target to $61; Barclays issued a Hold), reducing near?term analyst support and pressuring sentiment. Wells Fargo & Company Cuts Zillow Group Price Target
• Negative Sentiment: Multiple insider sales were disclosed this week (including the General Counsel, CTO, COO, CAO and other insiders), which investors often view as a negative signal about confidence or a source of additional selling supply. Representative SEC filing: Insider Form 4 filing
• Negative Sentiment: Shares hit a new 12?month low after the mix of the earnings miss, price?target cuts and the spike in trading volume — signaling increased near?term downside risk until clarity returns on margins and legal/headline issues. Zillow Group Sets New 12-Month Low Following Weak Earnings

About Zillow Group

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.