Zillow Group, Inc. (NASDAQ:ZG) Short Interest Up 388.2% in July

Key Points

• Zillow Group's short interest increased by 388.2% in July, totaling 1,370,000 shares, which represents about 2.8% of its total shares.
• The company's last quarterly earnings reported an EPS of $0.41, missing expectations by $0.06, despite a revenue of $598 million that exceeded forecasts.
• Research analysts have varying opinions on Zillow's stock, with ratings ranging from hold to buy, and an average price target of $82.45.

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) was the target of a large growth in short interest in July. As of July 15th, there was short interest totaling 1,370,000 shares, agrowthof388.2% from the June 30th total of 280,600 shares. Approximately2.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 501,000 shares, the days-to-cover ratio is presently 2.7 days. Based on an average daily trading volume, of 501,000 shares, the days-to-cover ratio is presently 2.7 days. Approximately2.8% of the shares of the stock are sold short.

Zillow Group Price Performance

NASDAQ:ZG opened at $77.16 on Friday. The business has a 50 day moving average of $71.02 and a 200 day moving average of $70.62. The company has a market capitalization of $18.63 billion, a price-to-earnings ratio of -226.94, a PEG ratio of 14.25 and a beta of 2.07. Zillow Group has a 1-year low of $40.30 and a 1-year high of $86.58.

Zillow Group (NASDAQ:ZG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). The company had revenue of $598.00 million during the quarter, compared to analysts' expectations of $587.88 million. Zillow Group had a negative return on equity of 1.62% and a negative net margin of 3.51%. The business's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. As a group, sell-side analysts anticipate that Zillow Group will post 0.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ZG shares. DA Davidson reaffirmed a "buy" rating and set a $85.00 target price on shares of Zillow Group in a report on Friday, July 18th. Wells Fargo & Company lifted their target price on Zillow Group from $60.00 to $75.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Barclays dropped their price target on Zillow Group from $64.00 to $60.00 and set an "underweight" rating for the company in a research report on Thursday, May 8th. Canaccord Genuity Group dropped their price target on Zillow Group from $86.00 to $76.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Finally, Wedbush reiterated an "outperform" rating and set a $90.00 price target (down previously from $100.00) on shares of Zillow Group in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $82.45.

Insider Buying and Selling at Zillow Group

In other Zillow Group news, insider Errol G. Samuelson sold 6,962 shares of Zillow Group stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $68.63, for a total transaction of $477,802.06. Following the completion of the transaction, the insider owned 135,674 shares of the company's stock, valued at $9,311,306.62. The trade was a 4.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeremy Wacksman sold 10,984 shares of Zillow Group stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $68.98, for a total value of $757,676.32. Following the transaction, the chief executive officer directly owned 171,517 shares of the company's stock, valued at $11,831,242.66. The trade was a 6.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,093 shares of company stock worth $6,989,688. 17.14% of the stock is owned by corporate insiders.

Institutional Trading of Zillow Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Zillow Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 7,002,693 shares of the technology company's stock worth $468,200,000 after purchasing an additional 57,693 shares in the last quarter. Independent Franchise Partners LLP grew its position in shares of Zillow Group by 1.8% during the first quarter. Independent Franchise Partners LLP now owns 2,060,399 shares of the technology company's stock worth $137,758,000 after purchasing an additional 36,046 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Zillow Group by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 445,664 shares of the technology company's stock worth $31,578,000 after purchasing an additional 27,345 shares in the last quarter. Selkirk Management LLC grew its position in shares of Zillow Group by 14.0% during the fourth quarter. Selkirk Management LLC now owns 365,800 shares of the technology company's stock worth $25,917,000 after purchasing an additional 45,000 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Zillow Group by 110.8% during the first quarter. Millennium Management LLC now owns 290,999 shares of the technology company's stock worth $19,456,000 after purchasing an additional 152,955 shares in the last quarter. Hedge funds and other institutional investors own 20.32% 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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