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

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

Zillow Group Price Performance

Shares of Zillow Group stock opened at $48.89 on Monday. The firm has a market cap of $11.55 billion, a PE ratio of -70.86 and a beta of 2.05. The stock has a 50 day moving average of $43.51 and a 200 day moving average of $47.96. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.21. Zillow Group has a 12 month low of $33.23 and a 12 month high of $59.23.

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

Insider Buying and Selling

In related news, insider Susan Daimler sold 4,931 shares of Zillow Group stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $44.29, for a total transaction of $218,393.99. Following the sale, the insider now directly owns 19,556 shares of the company’s stock, valued at approximately $866,135.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Susan Daimler sold 4,931 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $44.29, for a total transaction of $218,393.99. Following the completion of the transaction, the insider now owns 19,556 shares of the company’s stock, valued at $866,135.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Bradley D. Owens sold 1,373 shares of Zillow Group stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $44.15, for a total value of $60,617.95. Following the transaction, the general counsel now directly owns 40,194 shares in the company, valued at $1,774,565.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,041 shares of company stock worth $2,637,477. Corporate insiders own 17.14% of the company’s stock.

Institutional Investors Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in Zillow Group during the 4th quarter worth approximately $26,000. Creative Financial Designs Inc. ADV acquired a new stake in Zillow Group in the fourth quarter valued at approximately $31,000. Fidelis Capital Partners LLC acquired a new position in Zillow Group during the first quarter worth $32,000. Quadrant Capital Group LLC raised its position in shares of Zillow Group by 45.1% during the 4th 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 shares of Zillow Group in the first quarter valued at approximately $53,000. 20.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays decreased their price objective on Zillow Group from $40.00 to $35.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Benchmark reissued a “buy” rating and issued a $60.00 price target on shares of Zillow Group in a research report on Tuesday, April 30th. DA Davidson restated a “buy” rating and set a $52.00 price objective on shares of Zillow Group in a research note on Tuesday, June 18th. Canaccord Genuity Group reduced their target price on shares of Zillow Group from $58.00 to $50.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Finally, Citigroup dropped their price target on shares of Zillow Group from $68.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.