Zillow Group Target of Unusually High Options Trading (NASDAQ:ZG)

Key Points

• Investors showed significant interest in Zillow Group, purchasing 4,633 call options on Monday, a substantial increase of 1,738% compared to the average daily volume.
• Insider selling was notable, with key executives Dan Spaulding and CFO Jeremy Hofmann selling 5,680 and 8,168 shares respectively, reflecting a decrease in ownership of approximately 8.7% and 8.85%.
• Several analysts have raised their price targets for Zillow Group, with DA Davidson increasing its target from $85.00 to $95.00 and maintaining a "buy" rating, reflecting positive sentiment on the stock.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) saw unusually large options trading activity on Monday. Investors bought 4,633 call options on the stock. This represents an increase of approximately 1,738% compared to the average volume of 252 call options.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ZG. Susquehanna reissued a "neutral" rating on shares of Zillow Group in a research report on Friday, August 8th. Barclays reissued an "underweight" rating and set a $66.00 target price (up previously from $60.00) on shares of Zillow Group in a research report on Thursday, August 7th. Zelman & Associates raised shares of Zillow Group to a "hold" rating in a research report on Friday, August 8th. Royal Bank Of Canada upped their price objective on shares of Zillow Group from $88.00 to $95.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, KeyCorp reaffirmed an "overweight" rating and set a $92.00 price objective (up previously from $90.00) on shares of Zillow Group in a research report on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $85.52.

Insider Activity at Zillow Group

In other Zillow Group news, CFO Jeremy Hofmann sold 25,000 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $89.99, for a total transaction of $2,249,750.00. Following the transaction, the chief financial officer directly owned 84,146 shares of the company's stock, valued at $7,572,298.54. This represents a 22.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jun Choo sold 45,710 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $85.21, for a total transaction of $3,894,949.10. Following the transaction, the chief operating officer directly owned 117,098 shares of the company's stock, valued at approximately $9,977,920.58. This represents a 28.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 657,087 shares of company stock worth $56,286,479 over the last quarter. 17.14% of the stock is currently owned by corporate insiders.

Institutional Trading of Zillow Group

Hedge funds have recently modified their holdings of the stock. National Bank of Canada FI grew its stake in shares of Zillow Group by 79.4% during the first quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock valued at $33,000 after purchasing an additional 216 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of Zillow Group during the first quarter valued at approximately $42,000. CX Institutional bought a new stake in shares of Zillow Group during the first quarter valued at approximately $46,000. Wood Tarver Financial Group LLC acquired a new position in Zillow Group in the fourth quarter valued at approximately $70,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Zillow Group by 33.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,129 shares of the technology company's stock valued at $75,000 after buying an additional 280 shares during the period. 20.32% of the stock is owned by institutional investors.

Zillow Group Trading Up 2.0%

NASDAQ ZG traded up $1.64 on Thursday, reaching $84.15. The company's stock had a trading volume of 100,417 shares, compared to its average volume of 554,364. The firm has a market cap of $20.39 billion, a PE ratio of -324.57, a price-to-earnings-growth ratio of 8.79 and a beta of 2.02. The business has a 50-day moving average price of $78.39 and a 200 day moving average price of $71.20. Zillow Group has a 52 week low of $53.68 and a 52 week high of $88.45.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.04). The firm had revenue of $655.00 million for the quarter, compared to the consensus estimate of $647.06 million. Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%.Zillow Group's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 earnings per share. Analysts anticipate that Zillow Group will post 0.32 earnings per share for the current fiscal 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.