Zillow Group, Inc. (NASDAQ:ZG) Sees Large Increase in Short Interest

Zillow Group, Inc. (NASDAQ:ZG) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 1,110,000 shares, a growth of 26.6% from the February 13th total of 876,700 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average trading volume of 561,100 shares, the short-interest ratio is currently 2.0 days.

Zillow Group Stock Performance

Shares of NASDAQ ZG opened at $67.81 on Wednesday. The company has a market cap of $16.45 billion, a PE ratio of -144.28, a P/E/G ratio of 8.90 and a beta of 2.33. The business has a 50-day simple moving average of $74.93 and a two-hundred day simple moving average of $69.72. Zillow Group has a fifty-two week low of $38.06 and a fifty-two week high of $86.58.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. On average, sell-side analysts predict that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on ZG shares. Robert W. Baird started coverage on Zillow Group in a research report on Friday, January 31st. They issued a “neutral” rating and a $88.00 price target for the company. Citigroup increased their target price on Zillow Group from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Bank of America raised their price target on Zillow Group from $81.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Susquehanna raised their price target on Zillow Group from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, JMP Securities raised their price target on Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.25.

Insider Transactions at Zillow Group

In related news, COO Jun Choo sold 1,277 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.72, for a total value of $99,248.44. Following the completion of the sale, the chief operating officer now directly owns 86,853 shares in the company, valued at $6,750,215.16. This trade represents a 1.45 % 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. Also, CTO David A. Beitel sold 2,025 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.75, for a total value of $157,443.75. Following the completion of the sale, the chief technology officer now owns 151,046 shares of the company’s stock, valued at approximately $11,743,826.50. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,065 shares of company stock valued at $7,660,165 in the last ninety days. Corporate insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

Several institutional investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC lifted its holdings in shares of Zillow Group by 13.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,191 shares of the technology company’s stock worth $84,000 after purchasing an additional 138 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Zillow Group by 24.0% during the fourth quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after purchasing an additional 159 shares during the period. Blue Trust Inc. lifted its holdings in shares of Zillow Group by 70.2% during the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after purchasing an additional 172 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Zillow Group during the fourth quarter worth about $27,000. Finally, Barrier Capital Management LLC lifted its holdings in shares of Zillow Group by 0.4% during the fourth quarter. Barrier Capital Management LLC now owns 111,200 shares of the technology company’s stock worth $7,879,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

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.