David A. 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 A. Beitel sold 22,510 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Zillow Group Price Performance

NASDAQ Z traded down $0.66 during trading hours on Monday, reaching $87.12. 1,599,980 shares of the stock traded hands, compared to its average volume of 2,350,380. The stock has a 50 day simple moving average of $82.34 and a two-hundred day simple moving average of $73.32. Zillow Group, Inc. has a 1 year low of $57.00 and a 1 year high of $91.93. The company has a market cap of $21.11 billion, a price-to-earnings ratio of -335.08, a price-to-earnings-growth ratio of 24.44 and a beta of 2.04.

Analysts Set New Price Targets

Several research analysts have recently commented on Z shares. Bank of America lifted their price objective on Zillow Group from $81.00 to $88.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price objective on Zillow Group from $79.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $88.29.

Institutional Trading of Zillow Group

Large investors have recently modified their holdings of the business. Jump Financial LLC bought a new stake in shares of Zillow Group in the first quarter worth about $334,000. TB Alternative Assets Ltd. grew its stake in shares of Zillow Group by 49.0% in the first quarter. TB Alternative Assets Ltd. now owns 570,913 shares of the financial services provider's stock worth $39,142,000 after purchasing an additional 187,671 shares during the last quarter. American Assets Investment Management LLC bought a new stake in shares of Zillow Group in the first quarter worth about $468,000. Alberta Investment Management Corp bought a new stake in shares of Zillow Group in the first quarter worth about $3,661,000. Finally, Cerity Partners LLC grew its stake in shares of Zillow Group by 67.0% in the first quarter. Cerity Partners LLC now owns 20,475 shares of the financial services provider's stock worth $1,404,000 after purchasing an additional 8,215 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

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.