Zillow Group (NASDAQ:Z) CTO Sells $61,563.52 in Stock

Key Points

• CTO David Beitel sold 1,798 Zillow shares for $61,563.52 at an average price of $34.24, reducing his ownership by 1.33%; the sale covered tax obligations from vested equity awards.
• Zillow shares traded at $33.72, with the stock below its 200-day moving average and down substantially from its 12-month high of $93.88.
• The company exceeded quarterly expectations, reporting $0.52 in earnings per share versus the $0.45 consensus and $772 million in revenue versus $758.1 million expected. Analysts maintain a “Moderate Buy” consensus with a $66.75 average price target.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) CTO David Beitel sold 1,798 shares of the company's stock in a transaction dated 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 directly owned 133,013 shares of the company's stock, valued at approximately $4,554,365.12. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Price Performance

NASDAQ:Z traded down $1.06 during mid-day trading on Monday, reaching $33.72. 5,034,691 shares of the company's stock traded hands, compared to its average volume of 4,238,369. The company has a 50 day moving average price of $32.91 and a 200-day moving average price of $40.19. The firm has a market capitalization of $7.72 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 12-month low of $29.23 and a 12-month high of $93.88.

Zillow Group (NASDAQ:Z - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share 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 analysts' expectations of $758.10 million. As a group, analysts forecast that Zillow Group, Inc. will post 0.89 EPS for the current year.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors have recently added to or reduced their stakes in Z. IFC & Insurance Marketing Inc. purchased a new position in Zillow Group during the fourth quarter valued at $68,000. SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Zillow Group in the 4th quarter worth about $71,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in shares of Zillow Group by 34.5% in the 4th 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 in the last quarter. Advisory Services Network LLC bought a new position in shares of Zillow Group in the 3rd quarter worth about $99,000. Finally, Leonteq Securities AG lifted its position in Zillow Group by 627.0% during the 1st quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 1,160 shares during the period. Institutional investors own 71.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on Z shares. Keefe, Bruyette & Woods reduced their price objective on shares of Zillow Group from $37.00 to $34.00 and set a "market perform" rating on the stock in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Zillow Group from $80.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Royal Bank Of Canada reduced their price target on shares of Zillow Group from $95.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 10th. UBS Group decreased their price target on shares of Zillow Group from $80.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, April 28th. Finally, Sanford C. Bernstein lowered shares of Zillow Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Zillow Group has a consensus rating of "Moderate Buy" and a consensus target price 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.

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