Short Interest in Zillow Group, Inc. (NASDAQ:ZG) Grows By 26.6%

Zillow Group, Inc. (NASDAQ:ZG) was the recipient of a significant growth in short interest during the month of 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. Based on an average daily trading volume, of 561,100 shares, the days-to-cover ratio is currently 2.0 days. Approximately 2.1% of the company’s stock are short sold.

Insider Activity

In other news, CAO Jennifer Rock sold 5,796 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $75.50, for a total value of $437,598.00. Following the transaction, the chief accounting officer now owns 51,370 shares in the company, valued at $3,878,435. The trade was a 10.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jun Choo sold 1,277 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.72, for a total value of $99,248.44. Following the completion of the transaction, the chief operating officer now directly owns 86,853 shares of the company’s stock, valued at approximately $6,750,215.16. This represents a 1.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,065 shares of company stock worth $7,660,165 over the last three months. 17.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zillow Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Pilgrim Partners Asia Pte Ltd bought a new stake in Zillow Group in the 4th quarter worth $27,000. Blue Trust Inc. boosted 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. Asset Dedication LLC bought a new stake in shares of Zillow Group in the fourth quarter worth about $47,000. Assetmark Inc. increased its holdings in Zillow Group by 18,875.0% during the 4th quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock valued at $54,000 after purchasing an additional 755 shares during the period. Finally, Jones Financial Companies Lllp raised its position in Zillow Group by 24.0% during the 4th quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock valued at $58,000 after purchasing an additional 159 shares during the last quarter. Institutional investors own 20.32% of the company’s stock.

Wall Street Analyst Weigh In

ZG has been the subject of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $88.00 target price on shares of Zillow Group in a research report on Wednesday, February 12th. Craig Hallum lifted their price objective on Zillow Group from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Robert W. Baird started coverage on Zillow Group in a research note on Friday, January 31st. They issued a “neutral” rating and a $88.00 price objective on the stock. Canaccord Genuity Group increased their target price on shares of Zillow Group from $64.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. Finally, DA Davidson upped their price target on shares of Zillow Group from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Zillow Group Stock Up 3.2 %

NASDAQ ZG opened at $68.50 on Monday. The stock’s 50-day simple moving average is $75.03 and its two-hundred day simple moving average is $69.52. Zillow Group has a twelve month low of $38.06 and a twelve month high of $86.58. The company has a market capitalization of $16.62 billion, a price-to-earnings ratio of -145.74, a PEG ratio of 8.90 and a beta of 2.33.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, February 11th. The technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates 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, equities analysts expect that Zillow Group will post 0.32 earnings per share for the current fiscal year.

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.