Insider Selling: Zillow Group (NASDAQ:Z) CTO Sells $71,270.47 in 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 stock was sold at an average price of $37.93, for a total value of $71,270.47. Following the sale, the chief technology officer owned 134,811 shares in the company, valued at $5,113,381.23. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 opened at $37.66 on Monday. The business’s fifty day simple moving average is $42.97 and its 200 day simple moving average is $57.12. The firm has a market capitalization of $8.62 billion, a P/E ratio of 150.64, a price-to-earnings-growth ratio of 1.76 and a beta of 2.07. Zillow Group, Inc. has a 12 month low of $36.76 and a 12 month high of $93.88.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The business had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.10 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%. Analysts predict that Zillow Group, Inc. will post 0.82 EPS for the current fiscal year.

Zillow Group News Summary

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

Institutional Trading of Zillow Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC bought a new stake in shares of Zillow Group during the 3rd quarter valued at $27,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Zillow Group during the 3rd quarter valued at $29,000. V Square Quantitative Management LLC bought a new stake in shares of Zillow Group during the 4th quarter valued at $28,000. Cullen Frost Bankers Inc. raised its stake in shares of Zillow Group by 58.6% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 441 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 163 shares during the period. Finally, Pittenger & Anderson Inc. raised its stake in shares of Zillow Group by 32.8% during the 3rd quarter. Pittenger & Anderson Inc. now owns 546 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 135 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays upgraded Zillow Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 29th. Zelman & Associates upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Keefe, Bruyette & Woods lowered their target price on Zillow Group from $60.00 to $50.00 and set a “market perform” rating on the stock in a research note on Thursday, May 7th. Zacks Research upgraded Zillow Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen upgraded Zillow Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.75.

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.