Zillow Group, Inc. (NASDAQ:Z) Short Interest Update

Key Points

• Zillow Group's short interest grew by 1,793.2% in July, reaching 14,820,000 shares and representing 9.1% of total shares, with a days-to-cover ratio of 6.8 days.
• Analysts give Zillow Group a consensus rating of "Moderate Buy", with price targets ranging from $76.00 to $100.00.
• Insiders sold a combined total of 101,093 shares worth nearly $7 million in the last ninety days, retaining 25.03% ownership of the company.

Zillow Group, Inc. (NASDAQ:Z - Get Free Report) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 14,820,000 shares, agrowthof1,793.2% from the June 30th total of 782,800 shares. Based on an average trading volume of 2,180,000 shares, the days-to-cover ratio is presently 6.8 days. Currently,9.1% of the shares of the stock are sold short. Currently,9.1% of the shares of the stock are sold short. Based on an average trading volume of 2,180,000 shares, the days-to-cover ratio is presently 6.8 days.

Zillow Group Stock Up 0.8%

Shares of Z opened at $80.20 on Friday. The stock has a 50 day moving average price of $72.94 and a 200 day moving average price of $72.52. The company has a market capitalization of $19.36 billion, a price-to-earnings ratio of -235.88, a price-to-earnings-growth ratio of 14.69 and a beta of 2.09. Zillow Group has a 52-week low of $41.67 and a 52-week high of $89.39.

Wall Street Analyst Weigh In

Z has been the topic of several analyst reports. William Blair initiated coverage on Zillow Group in a report on Monday, April 21st. They set a "market perform" rating on the stock. JPMorgan Chase & Co. reduced their price target on Zillow Group from $93.00 to $79.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Keefe, Bruyette & Woods reduced their price target on Zillow Group from $80.00 to $76.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th. Wedbush reiterated an "outperform" rating and set a $100.00 price target on shares of Zillow Group in a report on Monday, May 5th. Finally, Wells Fargo & Company upgraded Zillow Group to a "hold" rating in a report on Monday, April 28th. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $83.71.

Insider Transactions at Zillow Group

In related news, CFO Jeremy Hofmann sold 7,959 shares of Zillow Group stock in a transaction on Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $549,011.82. Following the sale, the chief financial officer owned 97,481 shares of the company's stock, valued at approximately $6,724,239.38. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Bradley D. Owens sold 3,466 shares of Zillow Group stock in a transaction on Friday, May 16th. The shares were sold at an average price of $68.96, for a total transaction of $239,015.36. Following the completion of the sale, the general counsel directly owned 47,215 shares in the company, valued at $3,255,946.40. This represents a 6.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,093 shares of company stock worth $6,989,688 in the last ninety days. Company insiders own 25.03% of the company's stock.

Institutional Investors Weigh In On Zillow Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC lifted its holdings in shares of Zillow Group by 352.0% during the second quarter. TD Private Client Wealth LLC now owns 452 shares of the financial services provider's stock worth $32,000 after purchasing an additional 352 shares during the period. IFP Advisors Inc lifted its holdings in shares of Zillow Group by 288.9% during the first quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock worth $31,000 after purchasing an additional 338 shares during the period. National Pension Service lifted its holdings in shares of Zillow Group by 74.8% during the first quarter. National Pension Service now owns 577 shares of the financial services provider's stock worth $40,000 after purchasing an additional 247 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Zillow Group by 47.7% during the first quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock worth $42,000 after purchasing an additional 196 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Zillow Group during the first quarter worth $49,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

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.

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