Short Interest in Zillow Group, Inc. (NASDAQ:ZG) Declines By 32.8%

Zillow Group, Inc. (NASDAQ:ZG - Get Free Report) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 766,600 shares, a decline of 32.8% from the December 15th total of 1,140,000 shares. Approximately 1.5% of the company's shares are short sold. Based on an average trading volume of 475,900 shares, the days-to-cover ratio is currently 1.6 days.

Insider Transactions at Zillow Group

In other Zillow Group news, CTO David A. Beitel sold 56,750 shares of Zillow Group stock in a transaction on Friday, November 15th. The shares were sold at an average price of $72.39, for a total transaction of $4,108,132.50. Following the completion of the sale, the chief technology officer now owns 92 shares of the company's stock, valued at approximately $6,659.88. The trade was a 99.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer Rock sold 3,033 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $82.78, for a total value of $251,071.74. Following the completion of the transaction, the chief accounting officer now directly owns 57,166 shares in the company, valued at approximately $4,732,201.48. This trade represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 139,689 shares of company stock worth $10,395,879 over the last 90 days. 17.14% of the stock is owned by insiders.

Hedge Funds Weigh In On Zillow Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its stake in shares of Zillow Group by 28.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 24,738 shares of the technology company's stock worth $1,753,000 after purchasing an additional 5,539 shares during the period. Versant Capital Management Inc acquired a new position in Zillow Group in the 4th quarter valued at $72,000. JPMorgan Chase & Co. lifted its position in shares of Zillow Group by 155.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,258 shares of the technology company's stock valued at $2,060,000 after acquiring an additional 20,238 shares during the period. Virtu Financial LLC grew its holdings in shares of Zillow Group by 132.1% during the 3rd quarter. Virtu Financial LLC now owns 208,773 shares of the technology company's stock worth $12,929,000 after purchasing an additional 118,830 shares in the last quarter. Finally, Synergy Financial Group LTD bought a new position in shares of Zillow Group in the third quarter worth $271,000. 20.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ZG shares. Piper Sandler lifted their price target on shares of Zillow Group from $73.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. DA Davidson lifted their target price on Zillow Group from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Cantor Fitzgerald restated a "neutral" rating and issued a $47.00 price target on shares of Zillow Group in a report on Monday, October 7th. Evercore ISI lifted their price objective on Zillow Group from $55.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Finally, Barclays increased their target price on Zillow Group from $36.00 to $50.00 and gave the stock an "underweight" rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Zillow Group currently has an average rating of "Moderate Buy" and a consensus target price of $73.00.

Zillow Group Stock Up 1.6 %

ZG traded up $1.06 on Tuesday, hitting $69.17. 256,889 shares of the company were exchanged, compared to its average volume of 387,849. Zillow Group has a 12 month low of $38.06 and a 12 month high of $83.67. The company has a market cap of $16.16 billion, a PE ratio of -121.35 and a beta of 2.09. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. The stock's fifty day moving average is $74.11 and its 200-day moving average is $61.05.

Zillow Group (NASDAQ:ZG - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.03. Zillow Group had a negative return on equity of 2.33% and a negative net margin of 6.17%. The business had revenue of $581.00 million during the quarter, compared to analysts' expectations of $555.45 million. During the same quarter last year, the company posted ($0.12) earnings per share. Zillow Group's quarterly revenue was up 17.1% on a year-over-year basis. Equities research analysts predict that Zillow Group will post -0.34 EPS for the current fiscal year.

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.