Zillow Group Sees Unusually High Options Volume (NASDAQ:Z)

Zillow Group, Inc. (NASDAQ:Z) saw some unusual options trading on Monday. Stock investors purchased 40,619 call options on the stock. This represents an increase of 380% compared to the typical volume of 8,461 call options.

Insider Buying and Selling

In related news, insider Dan Spaulding sold 5,455 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $69.40, for a total value of $378,577.00. Following the completion of the sale, the insider owned 50,342 shares of the company’s stock, valued at approximately $3,493,734.80. This represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Bradley D. Owens sold 2,722 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $67.41, for a total transaction of $183,490.02. Following the sale, the general counsel owned 37,974 shares of the company’s stock, valued at approximately $2,559,827.34. The trade was a 6.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 67,511 shares of company stock worth $4,766,357 over the last quarter. Corporate insiders own 23.76% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its position in Zillow Group by 71.6% during the 1st quarter. Invesco Ltd. now owns 502,403 shares of the financial services provider’s stock worth $34,445,000 after purchasing an additional 209,614 shares during the period. Nuveen LLC purchased a new stake in shares of Zillow Group in the first quarter worth about $24,709,000. Resona Asset Management Co. Ltd. boosted its position in shares of Zillow Group by 7.8% in the first quarter. Resona Asset Management Co. Ltd. now owns 47,869 shares of the financial services provider’s stock worth $3,283,000 after buying an additional 3,466 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Zillow Group by 213.1% in the first quarter. Russell Investments Group Ltd. now owns 65,795 shares of the financial services provider’s stock valued at $4,511,000 after buying an additional 44,781 shares in the last quarter. Finally, National Pension Service raised its holdings in shares of Zillow Group by 74.8% during the 1st quarter. National Pension Service now owns 577 shares of the financial services provider’s stock valued at $40,000 after buying an additional 247 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Zillow Group Stock Performance

Zillow Group stock opened at $70.07 on Wednesday. Zillow Group has a 1 year low of $57.51 and a 1 year high of $93.88. The firm has a 50 day moving average price of $72.96 and a 200 day moving average price of $76.53. The company has a market cap of $16.96 billion, a price-to-earnings ratio of -500.46, a PEG ratio of 26.89 and a beta of 2.10.

Zillow Group (NASDAQ:Z) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The firm had revenue of $729.00 million during the quarter, compared to analysts’ expectations of $670.28 million. Zillow Group had a negative return on equity of 0.56% and a negative net margin of 1.29%. Sell-side analysts predict that Zillow Group will post 0.32 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on Z shares. JPMorgan Chase & Co. boosted their price objective on shares of Zillow Group from $94.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Oppenheimer initiated coverage on shares of Zillow Group in a research report on Monday, October 6th. They set a “market perform” rating for the company. Sanford C. Bernstein upgraded shares of Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 price objective on the stock in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Zillow Group from $85.00 to $80.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Zillow Group has a consensus rating of “Moderate Buy” and an average target price of $91.14.

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.