Zillow Group, Inc. (NASDAQ:Z) Sees Large Growth in Short Interest

Zillow Group, Inc. (NASDAQ:Z) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 14,400,000 shares, an increase of 22.6% from the March 31st total of 11,750,000 shares. Based on an average daily volume of 4,030,000 shares, the days-to-cover ratio is presently 3.6 days. Currently, 9.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Zillow Group from $46.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Jefferies Financial Group raised their price objective on shares of Zillow Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Zillow Group presently has a consensus rating of “Moderate Buy” and an average price target of $58.75.

Insider Activity at Zillow Group

In other news, General Counsel Bradley D. Owens sold 966 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total value of $56,037.66. Following the sale, the general counsel now directly owns 17,181 shares in the company, valued at approximately $996,669.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Zillow Group news, General Counsel Bradley D. Owens sold 966 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total transaction of $56,037.66. Following the sale, the general counsel now directly owns 17,181 shares in the company, valued at $996,669.81. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Amy Bohutinsky sold 93,750 shares of Zillow Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $56.69, for a total value of $5,314,687.50. Following the completion of the transaction, the director now owns 5,652 shares of the company’s stock, valued at approximately $320,411.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,289 shares of company stock valued at $9,642,508. 23.76% of the stock is owned by corporate insiders.

Institutional Trading of Zillow Group

A number of large investors have recently modified their holdings of Z. FMR LLC increased its holdings in Zillow Group by 203.1% during the 3rd quarter. FMR LLC now owns 3,450,713 shares of the financial services provider’s stock worth $159,285,000 after purchasing an additional 2,312,241 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Zillow Group by 7,507.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,133,685 shares of the financial services provider’s stock worth $55,301,000 after buying an additional 1,118,782 shares in the last quarter. Norges Bank purchased a new position in shares of Zillow Group during the fourth quarter valued at $34,718,000. Ninety One UK Ltd raised its holdings in shares of Zillow Group by 29.4% in the fourth quarter. Ninety One UK Ltd now owns 1,899,383 shares of the financial services provider’s stock valued at $109,898,000 after acquiring an additional 431,070 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Zillow Group by 688.9% in the third quarter. Nordea Investment Management AB now owns 426,611 shares of the financial services provider’s stock valued at $19,910,000 after acquiring an additional 372,532 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Stock Down 0.0 %

NASDAQ:Z opened at $43.65 on Tuesday. The stock has a fifty day simple moving average of $49.54 and a 200-day simple moving average of $48.96. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.22. Zillow Group has a twelve month low of $33.80 and a twelve month high of $61.13.

Zillow Group (NASDAQ:Z) last announced its quarterly earnings data on Tuesday, February 13th. The financial services provider reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.06. The company had revenue of $474.00 million during the quarter, compared to analyst estimates of $450.75 million. Zillow Group had a negative net margin of 8.12% and a negative return on equity of 2.32%. Research analysts expect that Zillow Group will post -0.15 EPS 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.