Insider Selling: Zillow Group, Inc. (NASDAQ:Z) CTO Sells $4,108,132.50 in Stock

Zillow Group, Inc. (NASDAQ:Z) CTO David A. Beitel sold 56,750 shares of Zillow Group stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $72.39, for a total transaction of $4,108,132.50. Following the transaction, the chief technology officer now directly owns 92 shares in the company, valued at approximately $6,659.88. This trade represents a 99.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Zillow Group Stock Performance

Zillow Group stock opened at $73.04 on Monday. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average of $63.61 and a 200-day moving average of $53.20. The stock has a market cap of $16.90 billion, a P/E ratio of -128.14 and a beta of 1.95. Zillow Group, Inc. has a 52 week low of $37.63 and a 52 week high of $76.69.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in Z. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Zillow Group by 400.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 400 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Zillow Group in the third quarter worth $35,000. Larson Financial Group LLC increased its stake in Zillow Group by 364.4% during the second quarter. Larson Financial Group LLC now owns 613 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 481 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Zillow Group by 66.3% during the third quarter. Blue Trust Inc. now owns 785 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 313 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Zillow Group in the 3rd quarter worth about $74,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wedbush upgraded shares of Zillow Group from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $50.00 to $80.00 in a report on Monday, September 16th. UBS Group upgraded Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. Craig Hallum raised Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group increased their price objective on shares of Zillow Group from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Bank of America upped their target price on shares of Zillow Group from $54.00 to $71.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.33.

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.