David Beitel Sells 22,510 Shares of Zillow Group (NASDAQ:Z) Stock

Key Points

• David Beitel, CTO of Zillow Group, sold 22,510 shares at an average price of $90.97, totaling approximately $2.05 million, resulting in a 13.47% decrease in his ownership stake in the company.
• Zillow Group shares are currently trading down 1.7%, reaching $85.71, with the stock showing significant volatility over the past year, with a low of $53.90 and a high of $91.93.
• Analysts have raised price targets for Zillow Group, with JPMorgan increasing its target from $79 to $94, reflecting a generally positive sentiment with a consensus rating of "Moderate Buy" and an average price target of $88.29.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) CTO David Beitel sold 22,510 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $90.97, for a total value of $2,047,734.70. Following the sale, the chief technology officer owned 144,549 shares in the company, valued at $13,149,622.53. The trade was a 13.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Zillow Group Trading Down 1.7%

Shares of NASDAQ Z traded down $1.48 during midday trading on Wednesday, reaching $85.71. The company had a trading volume of 1,947,457 shares, compared to its average volume of 2,577,543. The business's 50-day simple moving average is $81.41 and its 200 day simple moving average is $73.13. Zillow Group, Inc. has a 1 year low of $53.90 and a 1 year high of $91.93.

Institutional Trading of Zillow Group

A number of institutional investors and hedge funds have recently bought and sold shares of Z. Ethic Inc. lifted its holdings in Zillow Group by 13.3% during the 4th quarter. Ethic Inc. now owns 8,827 shares of the financial services provider's stock worth $654,000 after buying an additional 1,037 shares in the last quarter. Ensign Peak Advisors Inc increased its position in shares of Zillow Group by 9.4% during the fourth quarter. Ensign Peak Advisors Inc now owns 58,258 shares of the financial services provider's stock worth $4,314,000 after acquiring an additional 5,000 shares during the period. Gotham Asset Management LLC acquired a new stake in shares of Zillow Group in the fourth quarter valued at $442,000. Occudo Quantitative Strategies LP boosted its holdings in Zillow Group by 12.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 14,527 shares of the financial services provider's stock valued at $1,076,000 after purchasing an additional 1,570 shares during the period. Finally, NorthRock Partners LLC purchased a new position in Zillow Group in the fourth quarter valued at $437,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Z has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Bank of America raised their target price on Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Zillow Group has a consensus rating of "Moderate Buy" and an average price target of $88.29.

About Zillow Group

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.

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