Insider Selling: Zillow Group, Inc. (NASDAQ:Z) CTO Sells 56,750 Shares of Stock

Zillow Group, Inc. (NASDAQ:Z) CTO David A. Beitel sold 56,750 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.39, for a total value of $4,108,132.50. Following the transaction, the chief technology officer now directly owns 92 shares of the company’s stock, valued at approximately $6,659.88. This represents a 99.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Zillow Group Stock Down 1.7 %

Zillow Group stock opened at $73.04 on Friday. The company has a market capitalization of $16.90 billion, a P/E ratio of -128.14 and a beta of 1.95. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. Zillow Group, Inc. has a fifty-two week low of $37.63 and a fifty-two week high of $76.69. The stock has a 50-day simple moving average of $63.61 and a 200-day simple moving average of $53.12.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in Z. abrdn plc raised its holdings in shares of Zillow Group by 98.0% in the third quarter. abrdn plc now owns 48,990 shares of the financial services provider’s stock valued at $3,128,000 after buying an additional 24,247 shares during the last quarter. Prudential PLC acquired a new position in Zillow Group in the 2nd quarter valued at about $474,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Zillow Group by 32.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 85,233 shares of the financial services provider’s stock valued at $4,158,000 after acquiring an additional 20,729 shares during the last quarter. Empowered Funds LLC raised its stake in Zillow Group by 14.6% during the 1st quarter. Empowered Funds LLC now owns 4,752 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 606 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in Zillow Group during the 3rd quarter worth approximately $1,370,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on Z. Bank of America boosted their price target on shares of Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Cantor Fitzgerald upgraded shares of Zillow Group to a “hold” rating in a research note on Thursday, September 5th. Jefferies Financial Group raised their price target on Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. UBS Group raised Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley raised their target price on Zillow Group from $46.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.33.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.