Zillow Group (Z) Sees Unusually-High Trading Volume on Insider Buying Activity

Shares of Zillow Group Inc (NASDAQ:Z) saw unusually-strong trading volume on Monday after an insider bought additional shares in the company. Approximately 8,504,077 shares changed hands during mid-day trading, an increase of 290% from the previous session’s volume of 2,182,960 shares.The stock last traded at $32.89 and had previously closed at $29.39.

Specifically, CEO Spencer M. Rascoff sold 57,518 shares of Zillow Group stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $46.95, for a total transaction of $2,700,470.10. Following the completion of the sale, the chief executive officer now owns 68,200 shares of the company’s stock, valued at $3,201,990. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jennifer Rock sold 898 shares of Zillow Group stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $41.01, for a total transaction of $36,826.98. Following the sale, the chief financial officer now directly owns 273 shares of the company’s stock, valued at approximately $11,195.73. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 1,436,724 shares of company stock valued at $40,889,456 and have sold 103,700 shares valued at $4,669,383. Insiders own 58.08% of the company’s stock.

A number of equities analysts recently commented on Z shares. BidaskClub downgraded shares of Zillow Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. KeyCorp reduced their price objective on shares of Zillow Group from $63.00 to $56.00 and set an “overweight” rating for the company in a research note on Tuesday, August 7th. Bank of America downgraded shares of Zillow Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 7th. ValuEngine downgraded shares of Zillow Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Finally, Zelman & Associates started coverage on shares of Zillow Group in a research note on Friday, November 2nd. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $48.72.

The company has a debt-to-equity ratio of 0.21, a quick ratio of 11.43 and a current ratio of 11.72.

Zillow Group (NASDAQ:Z) last issued its quarterly earnings results on Tuesday, November 6th. The financial services provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.14). The business had revenue of $343.09 million for the quarter. Zillow Group had a positive return on equity of 0.06% and a negative net margin of 7.94%.

Hedge funds have recently modified their holdings of the company. Korea Investment CORP purchased a new stake in shares of Zillow Group during the second quarter valued at $124,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Zillow Group during the second quarter valued at $184,000. Royal Bank of Canada grew its holdings in shares of Zillow Group by 125.9% during the first quarter. Royal Bank of Canada now owns 3,381 shares of the financial services provider’s stock valued at $182,000 after buying an additional 16,423 shares during the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of Zillow Group during the second quarter valued at $210,000. Finally, First Capital Advisors Group LLC. purchased a new stake in shares of Zillow Group during the second quarter valued at $223,000. 61.91% of the stock is currently owned by institutional investors and hedge funds.

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Zillow Group Company Profile (NASDAQ:Z)

Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable consumers find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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