Truist Financial Corp Grows Stock Holdings in Zillow Group, Inc. $Z

Truist Financial Corp boosted its holdings in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 133.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,816 shares of the financial services provider's stock after purchasing an additional 4,471 shares during the quarter. Truist Financial Corp's holdings in Zillow Group were worth $548,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of Z. Jump Financial LLC bought a new position in Zillow Group during the first quarter valued at $334,000. American Assets Investment Management LLC purchased a new stake in shares of Zillow Group in the first quarter valued at $468,000. Alberta Investment Management Corp purchased a new stake in shares of Zillow Group in the first quarter valued at $3,661,000. Cerity Partners LLC raised 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 valued at $1,404,000 after acquiring an additional 8,215 shares during the period. Finally, G&S Capital LLC raised its stake in shares of Zillow Group by 132.2% in the first quarter. G&S Capital LLC now owns 33,933 shares of the financial services provider's stock valued at $2,326,000 after acquiring an additional 19,319 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Z has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Gordon Haskett raised shares of Zillow Group to a "strong-buy" rating in a research note on Friday, October 3rd. Sanford C. Bernstein raised shares of Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 target price on the stock in a research note on Wednesday, September 17th. Oppenheimer started coverage on shares of Zillow Group in a research note on Monday, October 6th. They issued a "market perform" rating on the stock. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Zillow Group in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $90.38.

Insider Buying and Selling

In related news, CTO David A. Beitel sold 22,510 shares of the company'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 completion of the sale, the chief technology officer directly owned 144,549 shares of the company's stock, valued at $13,149,622.53. This represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 25,000 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $89.99, for a total transaction of $2,249,750.00. Following the completion of the sale, the chief financial officer directly owned 84,146 shares of the company's stock, valued at approximately $7,572,298.54. This trade represents a 22.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 657,087 shares of company stock valued at $56,286,479 over the last quarter. 25.03% of the stock is owned by company insiders.

Zillow Group Trading Up 1.2%

NASDAQ Z opened at $73.20 on Thursday. The company's 50-day moving average price is $81.63 and its 200-day moving average price is $74.17. The stock has a market cap of $17.73 billion, a PE ratio of -281.54, a PEG ratio of 24.73 and a beta of 2.13. Zillow Group, Inc. has a 12 month low of $57.00 and a 12 month high of $93.88.

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.

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