Bank of America Corp DE Sells 179,899 Shares of Zillow Group, Inc. $ZG

Bank of America Corp DE lowered its holdings in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 52.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 162,593 shares of the technology company's stock after selling 179,899 shares during the quarter. Bank of America Corp DE owned about 0.07% of Zillow Group worth $6,730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arax Advisory Partners grew its holdings in shares of Zillow Group by 402.3% during the fourth quarter. Arax Advisory Partners now owns 442 shares of the technology company's stock valued at $30,000 after buying an additional 354 shares during the last quarter. First Command Advisory Services Inc. bought a new position in shares of Zillow Group in the fourth quarter valued at approximately $34,000. EverSource Wealth Advisors LLC boosted its position in shares of Zillow Group by 183.6% during the first quarter. EverSource Wealth Advisors LLC now owns 984 shares of the technology company's stock valued at $41,000 after buying an additional 637 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Zillow Group by 990.3% during the first quarter. Fifth Third Bancorp now owns 1,014 shares of the technology company's stock valued at $42,000 after buying an additional 921 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Zillow Group during the fourth quarter worth $47,000. Institutional investors own 20.32% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Zacks Research cut Zillow Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. The Goldman Sachs Group reduced their target price on shares of Zillow Group from $53.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, June 12th. Deutsche Bank Aktiengesellschaft set a $80.00 target price on shares of Zillow Group in a report on Monday. Weiss Ratings reissued a "sell (d)" rating on shares of Zillow Group in a research report on Wednesday, August 19th. Finally, Barclays cut their price target on shares of Zillow Group from $58.00 to $54.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $53.14.

Insider Buying and Selling

In related news, insider Dan Spaulding sold 3,169 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $35.37, for a total value of $112,087.53. Following the sale, the insider directly owned 44,561 shares in the company, valued at approximately $1,576,122.57. The trade was a 6.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Jennifer Rock sold 990 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $34.24, for a total transaction of $33,897.60. Following the sale, the chief accounting officer directly owned 58,752 shares in the company, valued at approximately $2,011,668.48. This trade represents a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 37,351 shares of company stock worth $1,280,657 in the last quarter. 29.88% of the stock is currently owned by company insiders.

Zillow Group Stock Performance

NASDAQ ZG opened at $35.98 on Thursday. The company has a market capitalization of $8.09 billion, a PE ratio of 163.55, a price-to-earnings-growth ratio of 1.61 and a beta of 1.95. Zillow Group, Inc. has a 52-week low of $29.03 and a 52-week high of $90.22. The company has a 50-day simple moving average of $33.49 and a 200 day simple moving average of $38.84.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its earnings results on Wednesday, August 5th. The technology company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.08. Zillow Group had a net margin of 1.96% and a return on equity of 2.32%. The firm had revenue of $772.00 million for the quarter, compared to analysts' expectations of $758.25 million. During the same period in the previous year, the company earned $0.40 earnings per share. The company's quarterly revenue was up 17.9% on a year-over-year basis. As a group, analysts forecast that Zillow Group, Inc. will post 0.89 EPS for the current fiscal year.

About Zillow Group

Zillow Group NASDAQ: ZG is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow's core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.

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