Short Interest in Zillow Group, Inc. (NASDAQ:ZG) Declines By 14.6%

Zillow Group, Inc. (NASDAQ:ZG) was the target of a large decline in short interest in June. As of June 30th, there was short interest totalling 1,110,000 shares, a decline of 14.6% from the June 15th total of 1,300,000 shares. Based on an average daily volume of 562,000 shares, the days-to-cover ratio is presently 2.0 days. Approximately 2.1% of the shares of the stock are sold short.

Insiders Place Their Bets

In related news, General Counsel Bradley D. Owens sold 1,373 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $44.15, for a total transaction of $60,617.95. Following the completion of the transaction, the general counsel now directly owns 40,194 shares of the company’s stock, valued at $1,774,565.10. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, General Counsel Bradley D. Owens sold 1,373 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $44.15, for a total transaction of $60,617.95. Following the sale, the general counsel now owns 40,194 shares of the company’s stock, valued at $1,774,565.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jeremy Hofmann sold 8,562 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $39.05, for a total transaction of $334,346.10. Following the transaction, the chief financial officer now owns 123,123 shares of the company’s stock, valued at approximately $4,807,953.15. The disclosure for this sale can be found here. Insiders have sold a total of 60,041 shares of company stock worth $2,637,477 in the last 90 days. 17.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zillow Group

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC purchased a new stake in shares of Zillow Group during the fourth quarter valued at about $26,000. Creative Financial Designs Inc. ADV purchased a new stake in Zillow Group during the fourth quarter valued at approximately $31,000. Fidelis Capital Partners LLC acquired a new stake in Zillow Group in the first quarter valued at approximately $32,000. Quadrant Capital Group LLC grew its holdings in Zillow Group by 45.1% in the fourth quarter. Quadrant Capital Group LLC now owns 763 shares of the technology company’s stock worth $43,000 after purchasing an additional 237 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Zillow Group in the first quarter worth $53,000. Institutional investors own 20.32% of the company’s stock.

Zillow Group Trading Up 2.4 %

ZG opened at $50.05 on Tuesday. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average is $43.69 and its two-hundred day moving average is $47.91. The company has a market capitalization of $11.82 billion, a P/E ratio of -72.54 and a beta of 2.05. Zillow Group has a 52 week low of $33.23 and a 52 week high of $59.23.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $529.00 million for the quarter, compared to the consensus estimate of $509.30 million. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. Analysts forecast that Zillow Group will post -0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ZG has been the subject of a number of recent research reports. Royal Bank of Canada dropped their target price on Zillow Group from $66.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Canaccord Genuity Group reduced their target price on shares of Zillow Group from $58.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, April 29th. JMP Securities lowered their target price on shares of Zillow Group from $68.00 to $62.00 and set a “market outperform” rating for the company in a report on Thursday, May 2nd. Benchmark reiterated a “buy” rating and set a $60.00 price target on shares of Zillow Group in a report on Tuesday, April 30th. Finally, DA Davidson reissued a “buy” rating and issued a $52.00 price objective on shares of Zillow Group in a research note on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.14.

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.