Insider Selling: Zillow Group (NASDAQ:Z) CTO Sells 1,798 Shares of Stock

Zillow Group, Inc. (NASDAQ:Z) CTO David Beitel sold 1,798 shares of Zillow Group stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $61,563.52. Following the transaction, the chief technology officer owned 133,013 shares of the company’s stock, valued at $4,554,365.12. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Stock Performance

Shares of Zillow Group stock traded down $1.06 during midday trading on Monday, hitting $33.72. The company had a trading volume of 5,034,691 shares, compared to its average volume of 4,238,369. The stock has a market capitalization of $7.72 billion, a P/E ratio of 153.28, a P/E/G ratio of 1.51 and a beta of 1.98. The company has a 50 day moving average of $32.91 and a 200 day moving average of $40.19. Zillow Group, Inc. has a 52-week low of $29.23 and a 52-week high of $93.88.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. The company had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. Equities research analysts forecast that Zillow Group, Inc. will post 0.89 EPS for the current year.

Institutional Investors Weigh In On Zillow Group

Several institutional investors have recently modified their holdings of the business. Leonteq Securities AG increased its holdings in Zillow Group by 627.0% in the 1st quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider’s stock worth $56,000 after buying an additional 1,160 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Zillow Group by 283.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,414 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 1,045 shares during the last quarter. IFC & Insurance Marketing Inc. purchased a new stake in shares of Zillow Group during the 4th quarter valued at about $68,000. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Zillow Group in the fourth quarter worth approximately $71,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in shares of Zillow Group by 34.5% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 300 shares during the period. 71.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on Z. Sanford C. Bernstein lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Evercore downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Morgan Stanley set a $60.00 target price on shares of Zillow Group in a report on Thursday, August 6th. Zacks Research downgraded shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Zillow Group from $37.00 to $34.00 and set a “market perform” rating on the stock in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.75.

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.