Zillow Group, Inc. (NASDAQ:ZG) Short Interest Update

Zillow Group, Inc. (NASDAQ:ZG) saw a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 2,172,484 shares, an increase of 38.4% from the January 29th total of 1,569,814 shares. Based on an average trading volume of 1,916,438 shares, the short-interest ratio is currently 1.1 days. Currently, 1.1% of the shares of the stock are sold short. Currently, 1.1% of the shares of the stock are sold short. Based on an average trading volume of 1,916,438 shares, the short-interest ratio is currently 1.1 days.

Insider Activity at Zillow Group

In other news, CEO Jeremy Wacksman sold 13,661 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $44.25, for a total transaction of $604,499.25. Following the sale, the chief executive officer directly owned 116,322 shares of the company’s stock, valued at $5,147,248.50. This represents a 10.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Errol G. Samuelson sold 7,015 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $44.21, for a total transaction of $310,133.15. Following the completion of the transaction, the insider owned 113,800 shares of the company’s stock, valued at $5,031,098. This trade represents a 5.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 62,007 shares of company stock valued at $2,771,433 in the last three months. 17.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZG. Norges Bank bought a new position in Zillow Group during the 2nd quarter worth about $159,770,000. Independent Franchise Partners LLP boosted its position in shares of Zillow Group by 1.1% during the fourth quarter. Independent Franchise Partners LLP now owns 2,024,556 shares of the technology company’s stock worth $138,135,000 after buying an additional 21,862 shares during the period. M&T Bank Corp grew its holdings in shares of Zillow Group by 38,344.0% during the fourth quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company’s stock worth $120,092,000 after buying an additional 1,600,097 shares in the last quarter. Tiger Global Management LLC raised its position in Zillow Group by 30.7% in the 4th quarter. Tiger Global Management LLC now owns 1,023,733 shares of the technology company’s stock valued at $69,849,000 after buying an additional 240,690 shares during the last quarter. Finally, UBS Group AG raised its position in Zillow Group by 44.5% in the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company’s stock valued at $69,489,000 after buying an additional 313,643 shares during the last quarter. 20.32% of the stock is owned by institutional investors and hedge funds.

Zillow Group Stock Performance

Shares of ZG opened at $44.80 on Monday. The stock has a 50 day simple moving average of $59.75 and a 200 day simple moving average of $69.34. Zillow Group has a 52-week low of $41.90 and a 52-week high of $90.22. The firm has a market capitalization of $10.75 billion, a PE ratio of 497.83, a P/E/G ratio of 2.51 and a beta of 2.06.

Zillow Group (NASDAQ:ZG) last announced its earnings results on Tuesday, February 10th. The technology company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). The company had revenue of $654.00 million for the quarter, compared to analyst estimates of $650.40 million. Zillow Group had a return on equity of 0.56% and a net margin of 0.89%.The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $0.27 earnings per share. Equities research analysts predict that Zillow Group will post 0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ZG. Cantor Fitzgerald decreased their price target on Zillow Group from $68.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, February 11th. Robert W. Baird set a $67.00 target price on shares of Zillow Group in a research note on Wednesday, February 11th. Piper Sandler reiterated an “overweight” rating and set a $70.00 price target (down from $85.00) on shares of Zillow Group in a research report on Wednesday, February 11th. Benchmark reissued a “buy” rating on shares of Zillow Group in a research note on Wednesday, February 11th. Finally, Susquehanna set a $50.00 price objective on shares of Zillow Group in a research note on Thursday, February 12th. Fourteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.05.

About Zillow Group

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.