Zillow Group Inc (NASDAQ:ZG) was the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 3,870,500 shares, a drop of 5.3% from the June 30th total of 4,087,400 shares. Based on an average daily trading volume, of 1,080,000 shares, the short-interest ratio is presently 3.6 days. Approximately 7.0% of the shares of the company are short sold.
A number of analysts recently issued reports on the stock. Canaccord Genuity decreased their price objective on shares of Zillow Group from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Craig Hallum lifted their target price on shares of Zillow Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Bank of America lifted their target price on shares of Zillow Group from $31.00 to $35.00 and gave the stock an “underperform” rating in a research note on Friday, May 10th. SunTrust Banks began coverage on shares of Zillow Group in a research note on Tuesday, July 9th. They issued a “buy” rating and a $49.39 target price for the company. Finally, BidaskClub downgraded shares of Zillow Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Zillow Group has a consensus rating of “Hold” and an average price target of $45.81.
A number of large investors have recently modified their holdings of ZG. Bamco Inc. NY lifted its position in Zillow Group by 2.9% during the second quarter. Bamco Inc. NY now owns 2,434,684 shares of the technology company’s stock valued at $111,411,000 after purchasing an additional 67,502 shares during the last quarter. State of Wisconsin Investment Board lifted its position in Zillow Group by 94.0% during the first quarter. State of Wisconsin Investment Board now owns 1,819,535 shares of the technology company’s stock valued at $62,228,000 after purchasing an additional 881,815 shares during the last quarter. Baillie Gifford & Co. lifted its position in Zillow Group by 28.5% during the second quarter. Baillie Gifford & Co. now owns 1,389,465 shares of the technology company’s stock valued at $63,581,000 after purchasing an additional 308,151 shares during the last quarter. Norges Bank bought a new stake in Zillow Group during the fourth quarter valued at approximately $28,753,000. Finally, UBS Group AG lifted its position in Zillow Group by 70.2% during the second quarter. UBS Group AG now owns 624,939 shares of the technology company’s stock valued at $28,597,000 after purchasing an additional 257,682 shares during the last quarter. 24.15% of the stock is owned by institutional investors.
Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.07. The company had revenue of $599.58 million during the quarter, compared to analysts’ expectations of $585.11 million. Zillow Group had a negative net margin of 13.49% and a negative return on equity of 5.12%. Zillow Group’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.02) earnings per share. On average, equities analysts forecast that Zillow Group will post -1.62 earnings per share for the current fiscal year.
Zillow Group Company Profile
Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.
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