Zillow Group Target of Unusually Large Options Trading (NASDAQ:Z)

Zillow Group, Inc. (NASDAQ:Z) was the target of some unusual options trading on Friday. Investors bought 24,955 call options on the stock. This represents an increase of 281% compared to the average volume of 6,546 call options.

Insider Activity at Zillow Group

In other Zillow Group news, COO Jun Choo sold 55,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $78.18, for a total transaction of $4,299,900.00. Following the transaction, the chief operating officer now directly owns 86,853 shares in the company, valued at approximately $6,790,167.54. This represents a 38.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer Rock sold 5,997 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $68.06, for a total value of $408,155.82. Following the transaction, the chief accounting officer now owns 58,320 shares in the company, valued at $3,969,259.20. The trade was a 9.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 157,741 shares of company stock worth $11,414,034 over the last ninety days. Insiders own 25.03% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC bought a new position in Zillow Group in the 1st quarter worth about $691,000. Fortis Capital Advisors LLC bought a new position in Zillow Group in the 1st quarter worth about $691,000. Intech Investment Management LLC boosted its stake in Zillow Group by 21.7% in the 1st quarter. Intech Investment Management LLC now owns 20,518 shares of the financial services provider’s stock worth $1,407,000 after purchasing an additional 3,653 shares during the period. SCS Capital Management LLC bought a new position in Zillow Group in the 1st quarter worth about $440,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Zillow Group by 2.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 985,003 shares of the financial services provider’s stock valued at $67,532,000 after acquiring an additional 24,951 shares during the last quarter. Institutional investors own 71.01% of the company’s stock.

Zillow Group Stock Performance

Shares of Z opened at $66.03 on Friday. The business has a 50-day moving average of $66.90 and a 200 day moving average of $74.01. Zillow Group has a fifty-two week low of $39.05 and a fifty-two week high of $89.39. The firm has a market cap of $15.94 billion, a P/E ratio of -140.49, a price-to-earnings-growth ratio of 9.24 and a beta of 2.23.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on Z shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods lowered their price target on Zillow Group from $80.00 to $76.00 and set a “market perform” rating for the company in a research report on Wednesday, May 7th. Wells Fargo & Company raised Zillow Group to a “hold” rating in a research report on Monday, April 28th. Deutsche Bank Aktiengesellschaft increased their price target on Zillow Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lowered their price target on Zillow Group from $93.00 to $79.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.71.

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.