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

Zillow Group, Inc. (NASDAQ:ZG) was the target of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,310,000 shares, an increase of 29.7% from the October 31st total of 1,010,000 shares. Based on an average daily trading volume, of 538,200 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.5% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Benchmark upped their price objective on shares of Zillow Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Susquehanna increased their price target on Zillow Group from $55.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Royal Bank of Canada lifted their price target on Zillow Group from $66.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. JMP Securities upped their price objective on Zillow Group from $62.00 to $82.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Finally, Evercore ISI lifted their target price on Zillow Group from $55.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.65.

Zillow Group Stock Performance

Shares of ZG stock opened at $82.33 on Friday. The firm’s 50 day moving average is $64.89 and its 200 day moving average is $53.64. The stock has a market capitalization of $19.23 billion, a P/E ratio of -144.44 and a beta of 2.02. Zillow Group has a 12 month low of $38.06 and a 12 month high of $83.25. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.11.

Zillow Group (NASDAQ:ZG) last posted its earnings results on Wednesday, November 6th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $581.00 million for the quarter, compared to the consensus estimate of $555.45 million. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.12) earnings per share. On average, sell-side analysts anticipate that Zillow Group will post -0.33 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Jeremy Hofmann sold 7,175 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $85.36, for a total value of $612,458.00. Following the sale, the chief financial officer now owns 99,362 shares in the company, valued at $8,481,540.32. This represents a 6.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Susan Daimler sold 3,484 shares of Zillow Group stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $54.18, for a total value of $188,763.12. Following the transaction, the insider now owns 22,464 shares of the company’s stock, valued at $1,217,099.52. This trade represents a 13.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 160,439 shares of company stock valued at $11,576,823. 17.14% of the stock is owned by company insiders.

Institutional Trading of Zillow Group

A number of large investors have recently modified their holdings of the business. L & S Advisors Inc bought a new position in Zillow Group in the third quarter valued at $1,579,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Zillow Group during the 1st quarter valued at about $1,597,000. Envestnet Portfolio Solutions Inc. lifted its position in Zillow Group by 24.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 49,569 shares of the technology company’s stock worth $2,233,000 after buying an additional 9,828 shares during the last quarter. Mirabella Financial Services LLP purchased a new stake in Zillow Group in the third quarter worth approximately $11,351,000. Finally, California State Teachers Retirement System boosted its stake in Zillow Group by 169.9% in the first quarter. California State Teachers Retirement System now owns 24,773 shares of the technology company’s stock worth $1,186,000 after buying an additional 15,594 shares in the last quarter. Institutional investors own 20.32% of the company’s stock.

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.