Stock Traders Purchase Large Volume of Call Options on Zillow Group (NASDAQ:Z)

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) was the recipient of unusually large options trading on Tuesday. Traders purchased 14,389 call options on the stock. This is an increase of approximately 140% compared to the typical daily volume of 5,995 call options.

Insiders Place Their Bets

In other news, CFO Jeremy Hofmann sold 23,388 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $84.98, for a total transaction of $1,987,512.24. Following the completion of the sale, the chief financial officer now owns 99,362 shares of the company's stock, valued at $8,443,782.76. This represents a 19.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Errol G. Samuelson sold 6,967 shares of Zillow Group stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.72, for a total value of $541,475.24. Following the completion of the sale, the insider now directly owns 127,467 shares in the company, valued at $9,906,735.24. This represents a 5.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,307 shares of company stock valued at $7,732,490. 23.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Zillow Group

A number of large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Zillow Group by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,538,709 shares of the financial services provider's stock worth $113,941,000 after purchasing an additional 11,727 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Zillow Group in the fourth quarter worth about $7,375,000. Vinva Investment Management Ltd bought a new stake in Zillow Group during the 4th quarter valued at approximately $1,187,000. Donoghue Forlines LLC bought a new position in Zillow Group in the 4th quarter worth approximately $1,932,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Zillow Group by 18.5% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 44,114 shares of the financial services provider's stock worth $3,267,000 after buying an additional 6,900 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on Z. Morgan Stanley lifted their target price on Zillow Group from $60.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Baird R W upgraded shares of Zillow Group to a "hold" rating in a research note on Friday, January 31st. KeyCorp upgraded shares of Zillow Group from a "hold" rating to a "strong-buy" rating in a research report on Sunday, February 2nd. Wedbush reissued an "outperform" rating and set a $100.00 price target on shares of Zillow Group in a research report on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods initiated coverage on Zillow Group in a report on Friday, March 28th. They issued a "market perform" rating and a $80.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $81.71.

Zillow Group Stock Up 1.7 %

Shares of NASDAQ:Z traded up $1.12 during trading on Tuesday, hitting $67.05. The stock had a trading volume of 651,709 shares, compared to its average volume of 3,332,674. The company has a market capitalization of $16.26 billion, a PE ratio of -142.60, a PEG ratio of 9.24 and a beta of 2.19. The firm's fifty day moving average is $69.24 and its 200 day moving average is $73.30. Zillow Group has a 12 month low of $38.45 and a 12 month high of $89.39.

Zillow Group (NASDAQ:Z - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider 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%. Equities research analysts expect that Zillow Group will post 0.32 EPS for the current fiscal year.

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.

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