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

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

Zillow Group Stock Down 1.0 %

ZG stock opened at $81.53 on Friday. The business’s 50-day moving average price is $65.55 and its 200-day moving average price is $54.12. The stock has a market cap of $19.04 billion, a P/E ratio of -143.04 and a beta of 2.02. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.11. Zillow Group has a twelve month low of $38.06 and a twelve month high of $83.67.

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

Insider Activity

In other news, Director Amy Bohutinsky sold 20,625 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $67.23, for a total value of $1,386,618.75. Following the transaction, the director now owns 5,652 shares in the company, valued at approximately $379,983.96. This represents a 78.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jeremy Hofmann sold 7,175 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $85.36, for a total transaction of $612,458.00. Following the sale, the chief financial officer now directly owns 99,362 shares of the company’s stock, valued at $8,481,540.32. This trade represents a 6.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 160,439 shares of company stock worth $11,576,823. Insiders own 17.14% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Zillow Group by 4.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,501 shares of the technology company’s stock worth $1,556,000 after buying an additional 1,526 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Zillow Group in the 1st quarter worth $1,597,000. California State Teachers Retirement System boosted its holdings in shares of Zillow Group by 169.9% during the 1st quarter. California State Teachers Retirement System now owns 24,773 shares of the technology company’s stock valued at $1,186,000 after purchasing an additional 15,594 shares during the last quarter. PGGM Investments grew its position in shares of Zillow Group by 7.3% during the first quarter. PGGM Investments now owns 60,585 shares of the technology company’s stock valued at $2,900,000 after purchasing an additional 4,144 shares in the last quarter. Finally, Wedmont Private Capital increased its holdings in shares of Zillow Group by 4.2% in the second quarter. Wedmont Private Capital now owns 12,483 shares of the technology company’s stock worth $610,000 after purchasing an additional 504 shares during the last quarter. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wedbush upgraded Zillow Group from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $50.00 to $80.00 in a research note on Monday, September 16th. Citigroup boosted their target price on Zillow Group from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Barclays raised their price target on shares of Zillow Group from $36.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Evercore ISI boosted their price objective on shares of Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Piper Sandler restated an “overweight” rating and set a $73.00 price objective (up previously from $62.00) on shares of Zillow Group in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.65.

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.