Zillow Group (NASDAQ:Z) CTO David Beitel Sells 1,798 Shares of Stock

Zillow Group, Inc. (NASDAQ:Z) CTO David Beitel sold 1,798 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $34.24, for a total transaction of $61,563.52. Following the transaction, the chief technology officer directly owned 133,013 shares of the company’s stock, valued at $4,554,365.12. The trade was a 1.33% decrease in their position. The transaction was disclosed in a document filed 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 Down 3.0%

Shares of NASDAQ Z opened at $33.72 on Tuesday. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 153.28, a PEG ratio of 1.51 and a beta of 1.98. Zillow Group, Inc. has a 52-week low of $29.23 and a 52-week high of $93.88. The business’s 50 day moving average is $32.89 and its two-hundred day moving average is $39.95.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%.The business had revenue of $772.00 million during the quarter, compared to analyst estimates of $758.10 million. Analysts anticipate that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Zillow Group

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

Trending Headlines about Zillow Group

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

• Neutral Sentiment: CEO Jeremy Wacksman sold a combined 15,125 shares for approximately $517,320, while retaining 138,574 shares after the latest sale. The transactions reduced his holdings but were explicitly tied to tax obligations under a pre-arranged plan. CEO Form 4 filing
• Neutral Sentiment: CFO Jeremy Hofmann sold 9,171 shares worth about $313,675 across two transactions and continued to own 59,144 shares. The sales were also conducted under a 10b5-1 plan for tax withholding. CFO Form 4 filing
• Negative Sentiment: Several additional executives and insiders sold shares, bringing reported sales to 35,373 shares worth approximately $1.21 million. Dan Spaulding, Errol G. Samuelson, Jennifer Rock and David A. Beitel all reduced their holdings, creating a potentially negative near-term sentiment signal because of the number of insiders selling at roughly $34.24–$35.37 per share. The tax-related purpose substantially reduces the bearish significance. Insider Form 4 filings

Analyst Ratings Changes

Z has been the subject of several research reports. Jefferies Financial Group dropped their target price on Zillow Group from $75.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Morgan Stanley set a $60.00 price objective on shares of Zillow Group in a research note on Thursday, August 6th. UBS Group dropped their price objective on shares of Zillow Group from $80.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Sanford C. Bernstein lowered shares of Zillow Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada reduced their target price on shares of Zillow Group from $95.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.75.

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.