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

Zillow Group, Inc. (NASDAQ:Z) CTO David Beitel sold 3,966 shares of the stock in a transaction 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 $6,044,431.80. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Zillow Group Stock Performance

Shares of Z opened at $43.45 on Friday. The firm has a fifty day moving average of $65.62 and a 200-day moving average of $73.90. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 482.83, a price-to-earnings-growth ratio of 3.25 and a beta of 2.08. Zillow Group, Inc. has a 1 year low of $42.50 and a 1 year high of $93.88.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The firm had revenue of $654.00 million during the quarter, compared to the consensus estimate of $650.40 million. Zillow Group had a net margin of 0.89% and a return on equity of 0.56%. Analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current year.

Hedge Funds Weigh In On Zillow Group

Several institutional investors have recently modified their holdings of the business. Kestra Advisory Services LLC acquired a new position in shares of Zillow Group in the fourth quarter valued at $153,000. Marshall Wace LLP bought a new stake in shares of Zillow Group during the 4th quarter worth about $865,000. Rosenblum Silverman Sutton S F Inc. CA acquired a new position in Zillow Group in the 4th quarter valued at about $7,002,000. The Manufacturers Life Insurance Company raised its holdings in Zillow Group by 2.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 20,080 shares of the financial services provider’s stock valued at $1,370,000 after acquiring an additional 453 shares during the period. Finally, Islander Capital Partners L.P. acquired a new stake in Zillow Group during the fourth quarter worth approximately $4,423,000. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on Z shares. Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a research report on Wednesday. Keefe, Bruyette & Woods reduced their price objective on shares of Zillow Group from $80.00 to $65.00 and set a “market perform” rating for the company in a report on Monday, February 9th. Barclays upgraded shares of Zillow Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 29th. Zelman & Associates upgraded shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a report on Thursday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $90.60.

More Zillow Group News

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

• Positive Sentiment: Zelman & Associates upgraded Zillow from “hold” to “strong-buy,” giving the stock a near-term bullish analyst catalyst. Zacks Zelman Upgrade
• Positive Sentiment: Some investors/analysts view the pullback as a buying opportunity — a Seeking Alpha piece argues AI competition is not an existential threat and recommends buying the plunge, which could support bargain-hunters. Seeking Alpha: Buy The Plunge
• Neutral Sentiment: Q4 revenue of about $654M slightly topped Wall Street’s estimate, a mild positive for top-line momentum but not enough to offset the EPS miss. Benzinga: Earnings Recap
• Negative Sentiment: Zillow missed on adjusted EPS ($0.39 vs. $0.42 expected), which is the primary driver cited for the recent selloff and the weekly/near-term price weakness. Benzinga: Earnings Miss
• Negative Sentiment: The stock has hit a new 52?week / 12?month low, reflecting investor concern and technical weakness that can prompt further selling. Investing.com: 52-Week Low
• Negative Sentiment: Multiple insiders — including the general counsel, CTO, COO and CAO — sold shares in mid?February, which may be interpreted negatively by the market even if the trades are routine. (SEC filings disclose the trades.) SEC Form 4 Insider Sales
• Negative Sentiment: Ongoing litigation and related disclosures remain a drag on sentiment and are cited in coverage as an additional headwind for the stock. MSN: Litigation Pressure
• Negative Sentiment: Broader analyst and media coverage highlights the projected earnings shortfall as the catalyst for the sharp weekly decline, reinforcing negative sentiment. The Motley Fool: Why Stock Dropped

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.