Zillow Group, Inc. (NASDAQ:ZG) Short Interest Up 42.3% in March

Zillow Group, Inc. (NASDAQ:ZG) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,580,000 shares, a growth of 42.3% from the February 28th total of 1,110,000 shares. Based on an average daily trading volume, of 604,700 shares, the days-to-cover ratio is presently 2.6 days. Currently, 3.0% of the company’s stock are short sold.

Zillow Group Price Performance

Zillow Group stock opened at $67.20 on Monday. The stock’s 50 day moving average price is $74.84 and its 200 day moving average price is $70.68. Zillow Group has a 1-year low of $38.06 and a 1-year high of $86.58. The company has a market cap of $16.30 billion, a PE ratio of -142.98, a price-to-earnings-growth ratio of 8.90 and a beta of 2.33.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Tuesday, February 11th. The technology company reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.48). Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. On average, equities research analysts anticipate that Zillow Group will post 0.32 EPS for the current fiscal year.

Insider Activity at Zillow Group

In other news, CFO Jeremy Hofmann sold 1,612 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $84.98, for a total transaction of $136,987.76. Following the completion of the sale, the chief financial officer now owns 99,362 shares in the company, valued at approximately $8,443,782.76. The trade was a 1.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Errol G. Samuelson sold 2,854 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $73.34, for a total transaction of $209,312.36. Following the completion of the transaction, the insider now directly owns 142,636 shares in the company, valued at $10,460,924.24. This trade represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 98,919 shares of company stock valued at $7,869,478 over the last quarter. 17.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZG. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Zillow Group during the 4th quarter valued at approximately $27,000. Blue Trust Inc. grew its holdings in shares of Zillow Group by 70.2% in the 4th quarter. Blue Trust Inc. now owns 417 shares of the technology company’s stock worth $30,000 after acquiring an additional 172 shares during the period. Asset Dedication LLC acquired a new stake in shares of Zillow Group in the 4th quarter worth approximately $47,000. Assetmark Inc. increased its stake in Zillow Group by 18,875.0% in the 4th quarter. Assetmark Inc. now owns 759 shares of the technology company’s stock valued at $54,000 after purchasing an additional 755 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Zillow Group by 24.0% during the fourth quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company’s stock worth $58,000 after purchasing an additional 159 shares during the last quarter. 20.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ZG. KeyCorp dropped their price target on Zillow Group from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. UBS Group raised their target price on shares of Zillow Group from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Robert W. Baird assumed coverage on shares of Zillow Group in a report on Friday, January 31st. They issued a “neutral” rating and a $88.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 price target on shares of Zillow Group in a research note on Wednesday, February 12th. Finally, JMP Securities lifted their price objective on shares of Zillow Group from $82.00 to $92.00 and gave the company a “market outperform” rating in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $82.25.

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.