Zillow Group (NASDAQ:Z) Announces Earnings Results, Beats Expectations By $998.57 EPS

Zillow Group (NASDAQ:Z) released its quarterly earnings results on Wednesday. The financial services provider reported $999.00 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $998.57, Zacks reports. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.

Zillow Group Stock Up 2.3%

Z traded up $0.99 during trading hours on Wednesday, hitting $44.53. The stock had a trading volume of 4,465,185 shares, compared to its average volume of 4,076,692. The company’s fifty day simple moving average is $43.66 and its 200 day simple moving average is $59.13. Zillow Group has a 1 year low of $39.05 and a 1 year high of $93.88. The stock has a market cap of $10.68 billion, a PE ratio of 494.83, a price-to-earnings-growth ratio of 2.16 and a beta of 2.07.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 11th. Mizuho lowered Zillow Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Barclays raised Zillow Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, January 21st. Finally, Zelman & Associates raised Zillow Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Zillow Group presently has a consensus rating of “Hold” and an average target price of $88.25.

Insider Buying and Selling

In related news, CTO David A. Beitel sold 3,966 shares of Zillow Group stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $44.22, for a total value of $175,376.52. Following the completion of the sale, the chief technology officer owned 136,690 shares of the company’s stock, valued at approximately $6,044,431.80. This trade represents a 2.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Dan Spaulding sold 5,361 shares of Zillow Group stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $43.95, for a total value of $235,615.95. Following the completion of the sale, the insider directly owned 41,080 shares of the company’s stock, valued at approximately $1,805,466. This trade represents a 11.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 60,801 shares of company stock worth $2,683,986 in the last quarter. 23.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zillow Group

Several large investors have recently added to or reduced their stakes in the company. Compound Planning Inc. increased its holdings in Zillow Group by 20.4% in the 4th quarter. Compound Planning Inc. now owns 5,528 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 937 shares during the last quarter. Invesco Ltd. boosted its stake in Zillow Group by 10.9% in the 4th quarter. Invesco Ltd. now owns 354,835 shares of the financial services provider’s stock worth $24,207,000 after purchasing an additional 34,977 shares during the period. Corient Private Wealth LLC boosted its stake in Zillow Group by 19.2% in the 4th quarter. Corient Private Wealth LLC now owns 11,517 shares of the financial services provider’s stock worth $786,000 after purchasing an additional 1,853 shares during the period. Alberta Investment Management Corp boosted its stake in Zillow Group by 23.5% in the 4th quarter. Alberta Investment Management Corp now owns 65,200 shares of the financial services provider’s stock worth $4,448,000 after purchasing an additional 12,400 shares during the period. Finally, Beacon Pointe Advisors LLC boosted its stake in Zillow Group by 20.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 6,199 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 1,043 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.