Zillow Group, Inc. (NASDAQ:ZG) Short Interest Up 43.3% in August

Zillow Group, Inc. (NASDAQ:ZG) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,490,000 shares, a growth of 43.3% from the August 15th total of 1,040,000 shares. Currently, 2.9% of the company’s shares are short sold. Based on an average daily trading volume, of 615,800 shares, the days-to-cover ratio is presently 2.4 days.

Zillow Group Price Performance

Shares of Zillow Group stock opened at $57.84 on Friday. The stock has a 50 day moving average of $50.21 and a 200 day moving average of $46.98. Zillow Group has a 12 month low of $33.23 and a 12 month high of $59.23. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. The firm has a market cap of $13.39 billion, a PE ratio of -83.83 and a beta of 2.00.

Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. Zillow Group had a negative net margin of 6.81% and a negative return on equity of 2.50%. The firm had revenue of $572.00 million during the quarter, compared to analysts’ expectations of $538.36 million. During the same period in the previous year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, research analysts expect that Zillow Group will post -0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZG. Benchmark upped their target price 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. Craig Hallum upped their price objective on Zillow Group from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Royal Bank of Canada increased their price objective on shares of Zillow Group from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Evercore ISI lifted their price target on shares of Zillow Group from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, DA Davidson reiterated a “buy” rating and issued a $52.00 target price on shares of Zillow Group in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.56.

Insiders Place Their Bets

In other news, General Counsel Bradley D. Owens sold 752 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $53.13, for a total transaction of $39,953.76. Following the transaction, the general counsel now directly owns 35,259 shares of the company’s stock, valued at $1,873,310.67. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Susan Daimler sold 3,484 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $54.18, for a total transaction of $188,763.12. Following the transaction, the insider now directly owns 22,464 shares of the company’s stock, valued at $1,217,099.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Bradley D. Owens sold 752 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total value of $39,953.76. Following the sale, the general counsel now directly owns 35,259 shares of the company’s stock, valued at $1,873,310.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,548 shares of company stock valued at $10,221,048. Insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

A number of hedge funds have recently made changes to their positions in ZG. Fidelis Capital Partners LLC acquired a new position in shares of Zillow Group during the 1st quarter worth approximately $32,000. Quadrant Capital Group LLC lifted its stake in shares of Zillow Group by 45.1% in the 4th quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock valued at $43,000 after purchasing an additional 237 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Zillow Group during the first quarter valued at about $53,000. Signaturefd LLC raised its position in Zillow Group by 29.7% in the second quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock valued at $71,000 after purchasing an additional 360 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in Zillow Group during the 1st quarter worth about $84,000. 20.32% of the stock is currently owned by hedge funds and other institutional investors.

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.