When this was written — On 11 September 2026. The figures are as at that date or earlier and have not been updated since.
Zip's half-year report in February showed net profit up 128% to $52.352M R1, but the market's enthusiasm has since expired. The short sellers have returned, tracking a familiar downward trajectory as the share price fell 18.86% over the past month.
Directors Matthew W. Schuyler 2 and Meredith Scott 3 executed transactions totaling A$140,000 in late June, leaving a negative net insider balance. Since then, institutional capital has been in constant motion. Substantial holder notifications flooded the ASX throughout August and September 45678. State Street Global Advisors and other institutions repeatedly became or ceased to be substantial holders 91011. This rapid reshuffling occurred right around the release of the FY26 annual report on 20 August R12, indicating institutional indecision as the buy-now-pay-later pioneer tries to sustain its earnings momentum.
The short position has crept back up to 11.72%, well above the peer sector average of 4.34%. This build-up is highly correlated with the recent price decline, carrying a 30-day price-to-shorts correlation of -0.550. With the share price sitting at A$2.28, the shorts are pressing their advantage, pushing the position 1.70 percentage points above its 90-day average of 10.01%. This is not a sudden spike but a steady accumulation, with a 30-day short slope of 0.1548% per day.
With institutional holders shifting positions and insiders cashing out, Zip's recovery looks increasingly fragile. The short sellers are firmly back in control.