Zillow Group (NASDAQ:Z) CTO Sells $71,270.47 in Stock

Key Points

• Zillow CTO David Beitel sold 1,879 shares on May 14 for about $71,270, reducing his direct stake by 1.37%. The company said the sale was to cover tax withholding tied to vested equity awards.
• The stock edged up 0.8% to $37.66, but it remains well below its recent averages, including the 50-day average of $43.14 and the 200-day average of $57.40. Zillow’s shares are near their 12-month low of $36.76.
• Zillow beat first-quarter expectations, reporting earnings of $0.53 per share versus the $0.43 consensus and revenue of $708 million, slightly above estimates. However, analysts have recently trimmed some price targets, even as the overall consensus remains “Moderate Buy.”

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) CTO David Beitel sold 1,879 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $37.93, for a total value 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 approximately $5,113,381.23. This trade represents a 1.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Zillow Group Trading Up 0.8%

Z traded up $0.29 during trading on Friday, hitting $37.66. The company's stock had a trading volume of 3,075,721 shares, compared to its average volume of 4,082,034. The business's fifty day simple moving average is $43.14 and its 200 day simple moving average is $57.40. Zillow Group, Inc. has a twelve month low of $36.76 and a twelve month high of $93.88. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 150.64, a P/E/G ratio of 1.80 and a beta of 2.07.

Zillow Group (NASDAQ:Z - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.43 by $0.10. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company had revenue of $708.00 million during the quarter, compared to analyst estimates of $705.10 million. As a group, equities research analysts forecast that Zillow Group, Inc. will post 0.82 earnings per share for the current fiscal year.

Key Headlines Impacting Zillow Group

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

Wall Street Analyst Weigh In

Several equities analysts have commented on Z shares. Keefe, Bruyette & Woods dropped their price target 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. JPMorgan Chase & Co. lowered their price target on shares of Zillow Group from $84.00 to $76.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Weiss Ratings raised shares of Zillow Group from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, May 7th. Barclays raised shares of Zillow Group from a "strong sell" rating to a "hold" rating in a research report on Thursday, January 29th. Finally, Zelman & Associates raised Zillow Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $79.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in Z. Jain Global LLC purchased a new stake in shares of Zillow Group during the 3rd quarter worth $6,220,000. Rakuten Investment Management Inc. purchased a new position in shares of Zillow Group in the 3rd quarter valued at about $2,919,000. Y Intercept Hong Kong Ltd increased its holdings in shares of Zillow Group by 63.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 85,210 shares of the financial services provider's stock valued at $6,565,000 after purchasing an additional 32,975 shares in the last quarter. Coronation Fund Managers Ltd. purchased a new position in shares of Zillow Group in the 3rd quarter valued at about $18,141,000. Finally, Vanguard Group Inc. increased its holdings in shares of Zillow Group by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 23,073,862 shares of the financial services provider's stock valued at $1,777,841,000 after purchasing an additional 71,336 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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.

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