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

Zillow Group, Inc. (NASDAQ:Z) was the recipient of unusually large options trading on Tuesday. Traders acquired 23,402 call options on the company. This represents an increase of approximately 29% compared to the average volume of 18,102 call options.

Zillow Group Stock Performance

Shares of Z stock traded up $1.60 during trading hours on Tuesday, reaching $43.30. The company’s stock had a trading volume of 3,526,946 shares, compared to its average volume of 3,943,647. Zillow Group has a one year low of $33.80 and a one year high of $61.13. The firm’s fifty day simple moving average is $48.32 and its 200 day simple moving average is $48.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.32 and a quick ratio of 3.32.

Zillow Group (NASDAQ:Z) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.42). The business had revenue of $529.00 million during the quarter, compared to analysts’ expectations of $509.30 million. Zillow Group had a negative return on equity of 2.28% and a negative net margin of 7.93%. During the same quarter in the prior year, the firm earned ($0.06) EPS. On average, research analysts expect that Zillow Group will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Bradley D. Owens sold 966 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $58.01, for a total value of $56,037.66. Following the transaction, the general counsel now directly owns 17,181 shares of the company’s stock, valued at approximately $996,669.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Amy Bohutinsky sold 93,750 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $56.69, for a total value of $5,314,687.50. Following the transaction, the director now directly owns 5,652 shares of the company’s stock, valued at approximately $320,411.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Bradley D. Owens sold 966 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total value of $56,037.66. Following the sale, the general counsel now owns 17,181 shares in the company, valued at $996,669.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 171,289 shares of company stock worth $9,642,508. Company insiders own 23.76% of the company’s stock.

Institutional Trading of Zillow Group

Large investors have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Zillow Group by 203.1% in the 3rd quarter. FMR LLC now owns 3,450,713 shares of the financial services provider’s stock worth $159,285,000 after buying an additional 2,312,241 shares during the period. Eminence Capital LP increased its holdings in shares of Zillow Group by 11.9% in the third quarter. Eminence Capital LP now owns 3,085,268 shares of the financial services provider’s stock valued at $142,416,000 after purchasing an additional 329,191 shares during the period. Ninety One UK Ltd increased its holdings in shares of Zillow Group by 29.4% in the fourth quarter. Ninety One UK Ltd now owns 1,899,383 shares of the financial services provider’s stock valued at $109,898,000 after purchasing an additional 431,070 shares during the period. Greencape Capital Pty Ltd boosted its stake in shares of Zillow Group by 93.0% in the first quarter. Greencape Capital Pty Ltd now owns 1,632,790 shares of the financial services provider’s stock worth $79,647,000 after buying an additional 786,600 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Zillow Group by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,475,559 shares of the financial services provider’s stock valued at $85,376,000 after purchasing an additional 80,529 shares during the period. Institutional investors own 71.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Thursday, May 2nd. Jefferies Financial Group raised their target price on shares of Zillow Group from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. dropped their target price on shares of Zillow Group from $65.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, Wedbush lowered their price objective on shares of Zillow Group from $60.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $56.20.

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.