Zillow Group, Inc. (NASDAQ:Z) Sees Significant Decrease in Short Interest

Zillow Group, Inc. (NASDAQ:Z) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 12,030,000 shares, a decline of 18.9% from the October 31st total of 14,830,000 shares. Approximately 7.9% of the company’s shares are short sold. Based on an average daily trading volume, of 3,330,000 shares, the short-interest ratio is currently 3.6 days.

Insider Activity

In related news, CTO David A. Beitel sold 56,750 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $72.39, for a total value of $4,108,132.50. Following the sale, the chief technology officer now directly owns 92 shares of the company’s stock, valued at approximately $6,659.88. This trade represents a 99.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan Daimler sold 3,484 shares of the company’s stock in a transaction that occurred 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. This trade represents a 13.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 160,439 shares of company stock valued at $11,576,823 over the last 90 days. Insiders own 23.76% of the company’s stock.

Institutional Trading of Zillow Group

Large investors have recently bought and sold shares of the company. FMR LLC boosted its position in Zillow Group by 179.5% in the 3rd quarter. FMR LLC now owns 5,095,336 shares of the financial services provider’s stock valued at $325,337,000 after buying an additional 3,272,118 shares during the last quarter. Dorsal Capital Management LP grew its stake in Zillow Group by 59.8% during the 2nd quarter. Dorsal Capital Management LP now owns 3,100,000 shares of the financial services provider’s stock valued at $143,809,000 after purchasing an additional 1,160,000 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Zillow Group by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,423,257 shares of the financial services provider’s stock worth $66,032,000 after purchasing an additional 139,489 shares during the last quarter. Groupama Asset Managment acquired a new position in shares of Zillow Group in the 3rd quarter valued at approximately $83,005,000. Finally, Coronation Fund Managers Ltd. boosted its stake in shares of Zillow Group by 238.9% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 864,733 shares of the financial services provider’s stock valued at $40,115,000 after buying an additional 609,575 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Zillow Group Price Performance

Z stock opened at $84.71 on Friday. The stock has a 50-day simple moving average of $67.44 and a 200-day simple moving average of $55.51. The firm has a market cap of $19.78 billion, a P/E ratio of -149.91 and a beta of 1.95. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. Zillow Group has a 1 year low of $38.45 and a 1 year high of $86.88.

Wall Street Analyst Weigh In

Z has been the subject of a number of research analyst reports. Bank of America upped their price objective on Zillow Group from $54.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Craig Hallum upgraded Zillow Group to a “strong-buy” rating in a research note on Thursday, August 8th. UBS Group upgraded Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Cantor Fitzgerald upgraded Zillow Group to a “hold” rating in a report on Thursday, September 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of Zillow Group in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.33.

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.