Zillow Group, Inc. (NASDAQ:ZG) Short Interest Up 35.0% in August

Posted by on Aug 27th, 2023

Zillow Group, Inc. (NASDAQ:ZG – Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 1,220,000 shares, a growth of 35.0% from the July 31st total of 903,800 shares. Currently, 2.2% of the company’s stock are sold short. Based on an average trading volume of 487,000 shares, the days-to-cover ratio is presently 2.5 days.

Insider Transactions at Zillow Group

In other news, insider Dan Spaulding sold 4,907 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $50.24, for a total value of $246,527.68. Following the sale, the insider now directly owns 59,579 shares of the company’s stock, valued at $2,993,248.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Jeremy Hofmann sold 13,984 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $49.91, for a total value of $697,941.44. Following the transaction, the chief financial officer now directly owns 121,334 shares of the company’s stock, valued at approximately $6,055,779.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dan Spaulding sold 4,907 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $50.24, for a total value of $246,527.68. Following the completion of the transaction, the insider now directly owns 59,579 shares in the company, valued at $2,993,248.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,745 shares of company stock valued at $3,312,722. 17.14% of the stock is owned by insiders.

Hedge Funds Weigh In On Zillow Group

A number of institutional investors and hedge funds have recently made changes to their positions in ZG. Ellevest Inc. raised its position in shares of Zillow Group by 179.8% during the fourth quarter. Ellevest Inc. now owns 943 shares of the technology company’s stock valued at $29,000 after buying an additional 606 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Zillow Group by 69.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the technology company’s stock worth $53,000 after buying an additional 441 shares during the period. ExodusPoint Capital Management LP purchased a new position in Zillow Group during the second quarter worth $70,000. Tyler Stone Wealth Management purchased a new position in Zillow Group during the second quarter worth $89,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Zillow Group during the second quarter valued at $91,000. Hedge funds and other institutional investors own 19.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ZG. Piper Sandler upped their target price on shares of Zillow Group from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Stephens upped their target price on shares of Zillow Group from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, June 30th. Wells Fargo & Company assumed coverage on shares of Zillow Group in a research note on Tuesday, June 27th. They set an “equal weight” rating and a $50.00 price objective for the company. Wedbush increased their price objective on shares of Zillow Group from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. Finally, DA Davidson upped their target price on shares of Zillow Group from $54.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.11.

View Our Latest Stock Report on ZG

Zillow Group Price Performance

Shares of Zillow Group stock opened at $48.66 on Friday. Zillow Group has a 52-week low of $26.21 and a 52-week high of $55.68. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of -63.19 and a beta of 1.72. The company has a fifty day moving average of $50.97 and a 200-day moving average of $46.10. The company has a debt-to-equity ratio of 0.37, a quick ratio of 10.90 and a current ratio of 10.90.

Zillow Group (NASDAQ:ZG – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.21. The business had revenue of $506.00 million during the quarter, compared to analysts’ expectations of $473.04 million. Zillow Group had a negative net margin of 9.61% and a negative return on equity of 2.78%. Equities research analysts expect that Zillow Group will post -0.77 EPS for the current year.

Zillow Group Company Profile

(Get Free Report)

Zillow Group, Inc operates real estate brands on mobile applications and Websites in the United States. The company operates through Internet, Media & Technology (IMT); Mortgages; and Homes segments. Its IMT segment offers premier agent and rentals marketplaces, as well as other services, which includes new construction marketplace, advertising, and business technology solutions, as well as display and dotloop and floor plans.

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