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

Zillow Group, Inc. (NASDAQ:Z) was the target of some unusual options trading on Monday. Stock traders acquired 40,619 call options on the company. This represents an increase of approximately 380% compared to the average daily volume of 8,461 call options.

Zillow Group Price Performance

NASDAQ:Z opened at $68.38 on Tuesday. Zillow Group has a one year low of $57.51 and a one year high of $93.88. The company has a market cap of $16.55 billion, a PE ratio of -488.39, a PEG ratio of 29.38 and a beta of 2.10. The firm has a 50-day moving average of $73.01 and a 200-day moving average of $76.51.

Zillow Group (NASDAQ:Z) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The company had revenue of $729.00 million for the quarter, compared to analyst estimates of $670.28 million. Zillow Group had a negative net margin of 1.29% and a negative return on equity of 0.56%. On average, equities research analysts expect that Zillow Group will post 0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Dan Spaulding sold 5,455 shares of the business’s stock in a transaction on 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 transaction, the insider directly owned 50,342 shares in the company, valued at $3,493,734.80. The trade was a 9.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Errol G. Samuelson sold 7,641 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $71.13, for a total value of $543,504.33. Following the completion of the sale, the insider directly owned 120,815 shares in the company, valued at approximately $8,593,570.95. The trade was a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 67,511 shares of company stock worth $4,766,357. 23.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zillow Group

Hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new stake in Zillow Group in the 3rd quarter valued at about $473,000. Swiss Life Asset Management Ltd increased its position in shares of Zillow Group by 18.0% during the third quarter. Swiss Life Asset Management Ltd now owns 14,434 shares of the financial services provider’s stock valued at $1,112,000 after acquiring an additional 2,199 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new position in Zillow Group in the third quarter worth $2,375,000. CIBC Bancorp USA Inc. bought a new position in Zillow Group in the 3rd quarter valued at $3,996,000. Finally, Coldstream Capital Management Inc. purchased a new stake in shares of Zillow Group during the 3rd quarter valued at $238,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Mizuho upgraded Zillow Group to a “strong-buy” rating in a report on Monday, September 29th. JPMorgan Chase & Co. upped 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. Gordon Haskett upgraded shares of Zillow Group to a “strong-buy” rating in a report on Friday, October 3rd. Sanford C. Bernstein upgraded Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a research report on Wednesday, September 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zillow Group in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.14.

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.