Zillow Group, Inc. (NASDAQ:ZG – Get Free Report) CTO David A. Beitel sold 4,670 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $53.73, for a total value of $250,919.10. Following the completion of the sale, the chief technology officer now owns 131,425 shares in the company, valued at $7,061,465.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Zillow Group Stock Performance
Shares of NASDAQ ZG opened at $49.43 on Friday. The company has a quick ratio of 10.90, a current ratio of 10.90 and a debt-to-equity ratio of 0.37. The stock’s fifty day simple moving average is $50.66 and its two-hundred day simple moving average is $45.97. Zillow Group, Inc. has a 12-month low of $26.21 and a 12-month high of $55.68.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on ZG. Bank of America increased their price target on Zillow Group from $54.00 to $55.00 in a report on Thursday, May 4th. Wells Fargo & Company began coverage on Zillow Group in a report on Tuesday, June 27th. They set an “equal weight” rating and a $50.00 price objective on the stock. Benchmark raised their price objective on Zillow Group from $65.00 to $67.00 in a report on Thursday, August 3rd. Zelman & Associates upgraded Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday, April 27th. Finally, Stephens raised their price objective on Zillow Group from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.11.
Institutional Trading of Zillow Group
Institutional investors have recently made changes to their positions in the business. Echo Street Capital Management LLC acquired a new stake in shares of Zillow Group in the 4th quarter worth $24,653,000. abrdn plc acquired a new stake in shares of Zillow Group in the 1st quarter worth $410,000. Illinois Municipal Retirement Fund acquired a new stake in shares of Zillow Group in the 4th quarter worth $1,180,000. Envestnet Asset Management Inc. boosted its position in shares of Zillow Group by 2.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 12,016 shares of the technology company’s stock worth $375,000 after purchasing an additional 277 shares in the last quarter. Finally, PGGM Investments acquired a new stake in shares of Zillow Group in the 4th quarter worth $469,000. Institutional investors and hedge funds own 19.17% of the company’s stock.
Zillow Group Company Profile
Zillow Group, Inc operates real estate brands on mobile applications and Websites in the United States. The company operates through Internet, Media & Technology (IMT); Mortgages; and Homes segments. Its IMT segment offers premier agent and rentals marketplaces, as well as other services, which includes new construction marketplace, advertising, and business technology solutions, as well as display and dotloop and floor plans.
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