Traders Purchase Large Volume of Call Options on Zillow Group (NASDAQ:Z)

Zillow Group, Inc. (NASDAQ:Z) was the target of unusually large options trading activity on Friday. Investors bought 31,800 call options on the stock. This represents an increase of approximately 87% compared to the average daily volume of 17,031 call options.

Zillow Group Stock Performance

Shares of Z stock traded up $1.37 during trading hours on Friday, reaching $61.97. 779,072 shares of the company traded hands, compared to its average volume of 3,819,098. Zillow Group has a 12-month low of $33.80 and a 12-month high of $68.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.12 and a quick ratio of 2.12. The company has a market cap of $14.34 billion, a P/E ratio of -99.34 and a beta of 1.95. The firm has a 50-day moving average price of $57.32 and a 200 day moving average price of $49.61.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.13. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The business had revenue of $572.00 million for the quarter, compared to analysts’ expectations of $539.74 million. As a group, sell-side analysts predict that Zillow Group will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Jennifer Rock sold 4,050 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total value of $199,381.50. Following the completion of the sale, the chief accounting officer now directly owns 79,694 shares in the company, valued at approximately $3,923,335.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Jennifer Rock sold 4,050 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $49.23, for a total transaction of $199,381.50. Following the completion of the transaction, the chief accounting officer now directly owns 79,694 shares of the company’s stock, valued at $3,923,335.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Lloyd D. Frink sold 150,000 shares of Zillow Group stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $50.83, for a total value of $7,624,500.00. Following the completion of the transaction, the chairman now directly owns 582 shares of the company’s stock, valued at approximately $29,583.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,999 shares of company stock worth $11,780,363. 23.76% of the stock is owned by insiders.

Institutional Trading of Zillow Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Doliver Advisors LP lifted its position in shares of Zillow Group by 3.3% in the 3rd quarter. Doliver Advisors LP now owns 9,681 shares of the financial services provider’s stock worth $618,000 after purchasing an additional 310 shares during the period. Flynn Zito Capital Management LLC grew its stake in Zillow Group by 7.2% in the second quarter. Flynn Zito Capital Management LLC now owns 4,810 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 325 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Zillow Group by 400.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 400 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Zillow Group by 0.5% during the first quarter. Commonwealth Equity Services LLC now owns 86,527 shares of the financial services provider’s stock valued at $4,221,000 after buying an additional 403 shares during the last quarter. Finally, Wedmont Private Capital grew its position in shares of Zillow Group by 1.9% in the 1st quarter. Wedmont Private Capital now owns 24,920 shares of the financial services provider’s stock worth $1,196,000 after buying an additional 468 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald raised shares of Zillow Group to a “hold” rating in a report on Thursday, September 5th. Craig Hallum raised Zillow Group to a “strong-buy” rating in a report on Thursday, August 8th. Wedbush raised shares of Zillow Group from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $50.00 to $80.00 in a research note on Monday, September 16th. Morgan Stanley boosted their price target on shares of Zillow Group from $46.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, UBS Group upgraded Zillow Group to a “strong-buy” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.20.

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.