Zillow Group Sees Unusually High Options Volume (NASDAQ:Z)

Zillow Group, Inc. (NASDAQ:Z) was the recipient of unusually large options trading on Monday. Traders bought 21,238 call options on the company. This represents an increase of approximately 29% compared to the typical daily volume of 16,451 call options.

Analyst Upgrades and Downgrades

Z has been the topic of several recent research reports. UBS Group raised Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Craig Hallum raised Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Cantor Fitzgerald raised Zillow Group to a “hold” rating in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft lifted their target price on Zillow Group from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $50.00 to $80.00 in a report on Monday. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.20.

Insiders Place Their Bets

In other Zillow Group news, insider Dan Spaulding sold 2,991 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total transaction of $159,061.38. Following the transaction, the insider now owns 70,342 shares in the company, valued at approximately $3,740,787.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Zillow Group news, insider Dan Spaulding sold 2,991 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $53.18, for a total value of $159,061.38. Following the sale, the insider now owns 70,342 shares of the company’s stock, valued at approximately $3,740,787.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jeremy Hofmann sold 7,155 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $56.89, for a total value of $407,047.95. Following the completion of the sale, the chief financial officer now directly owns 111,239 shares in the company, valued at approximately $6,328,386.71. The disclosure for this sale can be found here. Insiders have sold a total of 198,548 shares of company stock worth $10,221,048 in the last 90 days. Company insiders own 23.76% of the company’s stock.

Institutional Trading of Zillow Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Zillow Group in the 4th quarter valued at about $34,718,000. True Vision MN LLC bought a new stake in Zillow Group during the 4th quarter worth approximately $442,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Zillow Group by 30.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 669,892 shares of the financial services provider’s stock worth $32,677,000 after purchasing an additional 156,249 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Zillow Group by 100.7% during the 4th quarter. Allianz Asset Management GmbH now owns 37,248 shares of the financial services provider’s stock worth $2,155,000 after purchasing an additional 18,686 shares in the last quarter. Finally, CenterBook Partners LP purchased a new position in shares of Zillow Group in the 4th quarter worth approximately $1,181,000. 71.01% of the stock is owned by institutional investors.

Zillow Group Stock Performance

Z stock opened at $62.59 on Tuesday. The stock has a 50-day moving average price of $51.80 and a 200-day moving average price of $48.16. Zillow Group has a 1-year low of $33.80 and a 1-year high of $63.05. 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 $14.49 billion, a PE ratio of -90.71 and a beta of 1.94.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.13. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The firm had revenue of $572.00 million during the quarter, compared to analyst estimates of $539.74 million. As a group, equities research analysts expect that Zillow Group will post -0.33 earnings per share for the current year.

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.