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

Zillow Group, Inc. (NASDAQ:Z) CTO David Beitel sold 1,879 shares of Zillow Group stock in a transaction 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Stock Performance

Z opened at $37.66 on Friday. Zillow Group, Inc. has a fifty-two week low of $36.76 and a fifty-two week high of $93.88. The company has a fifty day moving average of $42.97 and a two-hundred day moving average of $57.26. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 150.64, a PEG ratio of 1.76 and a beta of 2.07.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.53 earnings per share for the quarter, beating 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 analysts’ expectations of $705.10 million. On average, equities research analysts forecast that Zillow Group, Inc. will post 0.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on Z shares. Zelman & Associates raised shares of Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Keefe, Bruyette & Woods cut their target price on shares of Zillow Group from $60.00 to $50.00 and set a “market perform” rating for the company in a research note on Thursday, May 7th. Needham & Company LLC reissued a “hold” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Barclays raised shares of Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. Finally, Wall Street Zen raised shares of Zillow Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.75.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Root Financial Partners LLC acquired a new position in Zillow Group during the third quarter worth about $27,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Zillow Group during the third quarter worth about $29,000. V Square Quantitative Management LLC acquired a new position in Zillow Group during the fourth quarter worth about $28,000. Cullen Frost Bankers Inc. boosted 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 acquiring an additional 163 shares during the last quarter. Finally, Pittenger & Anderson Inc. boosted 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 acquiring an additional 135 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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.