Zillow Group, Inc. (NASDAQ:ZG) Short Interest Down 30.4% in July

Key Points

• Zillow Group's short interest decreased by 30.4% in July, totaling 953,600 shares as of July 31, with 1.9% of its shares currently sold short.
• The company reported $0.40 earnings per share for the last quarter, missing analyst expectations by $0.04, despite a 14.5% increase in revenue year-over-year.
• Analysts have mixed ratings on Zillow Group, with thirteen rating it as a Buy, while the consensus price target stands at $85.62.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 953,600 shares, adropof30.4% from the July 15th total of 1,370,000 shares. Currently,1.9% of the company's shares are sold short. Based on an average daily volume of 541,300 shares, the days-to-cover ratio is currently 1.8 days. Based on an average daily volume of 541,300 shares, the days-to-cover ratio is currently 1.8 days. Currently,1.9% of the company's shares are sold short.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wedbush reiterated an "outperform" rating and set a $90.00 price objective (down previously from $100.00) on shares of Zillow Group in a research note on Thursday, May 8th. Zelman & Associates upgraded shares of Zillow Group to a "hold" rating in a research note on Friday, August 8th. Canaccord Genuity Group lifted their price target on shares of Zillow Group from $76.00 to $84.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Barclays restated an "underweight" rating and issued a $66.00 price target (up previously from $60.00) on shares of Zillow Group in a research note on Thursday, August 7th. Finally, DA Davidson lifted their price target on shares of Zillow Group from $85.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $85.62.

Zillow Group Stock Performance

Zillow Group stock opened at $80.01 on Wednesday. The firm's 50-day moving average is $73.97 and its 200-day moving average is $70.83. Zillow Group has a 1 year low of $51.16 and a 1 year high of $86.58. The company has a market cap of $19.38 billion, a P/E ratio of -307.73, a PEG ratio of 15.22 and a beta of 2.07.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). Zillow Group had a negative return on equity of 1.26% and a negative net margin of 2.60%.The business had revenue of $655.00 million during the quarter, compared to the consensus estimate of $647.06 million. During the same quarter in the previous year, the business posted $0.39 earnings per share. The company's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts predict that Zillow Group will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Thielke Claire Cormier sold 8,247 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $79.86, for a total transaction of $658,605.42. Following the completion of the sale, the director owned 725 shares in the company, valued at approximately $57,898.50. The trade was a 91.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jun Choo sold 45,710 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $85.21, for a total value of $3,894,949.10. Following the completion of the sale, the chief operating officer owned 117,098 shares of the company's stock, valued at approximately $9,977,920.58. This represents a 28.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 580,379 shares of company stock worth $49,319,729 over the last 90 days. Company insiders own 17.14% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC boosted its position in Zillow Group by 3.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,550 shares of the technology company's stock valued at $312,000 after purchasing an additional 131 shares during the period. Voya Investment Management LLC boosted its position in Zillow Group by 2.8% during the 1st quarter. Voya Investment Management LLC now owns 5,778 shares of the technology company's stock valued at $386,000 after purchasing an additional 156 shares during the period. M&T Bank Corp boosted its position in Zillow Group by 4.1% during the 1st quarter. M&T Bank Corp now owns 5,437 shares of the technology company's stock valued at $363,000 after purchasing an additional 215 shares during the period. National Bank of Canada FI grew its position in Zillow Group by 79.4% in the 1st quarter. National Bank of Canada FI now owns 488 shares of the technology company's stock worth $33,000 after purchasing an additional 216 shares during the last quarter. Finally, Unified Investment Management grew its position in Zillow Group by 1.7% in the 2nd quarter. Unified Investment Management now owns 14,144 shares of the technology company's stock worth $969,000 after purchasing an additional 235 shares during the last quarter. Institutional investors and hedge funds own 20.32% of the company's stock.

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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