Bank of America Corp DE Trims Position in Zillow Group, Inc. $Z

Bank of America Corp DE decreased its stake in shares of Zillow Group, Inc. (NASDAQ:Z - Free Report) by 84.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 280,410 shares of the financial services provider's stock after selling 1,489,515 shares during the period. Bank of America Corp DE owned 0.12% of Zillow Group worth $11,603,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. IFC & Insurance Marketing Inc. acquired a new stake in Zillow Group during the 4th quarter valued at $68,000. SBI Okasan Asset Management Co.Ltd. acquired a new position in Zillow Group in the fourth quarter worth $71,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in shares of Zillow Group by 34.5% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,170 shares of the financial services provider's stock valued at $80,000 after buying an additional 300 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Zillow Group during the third quarter valued at approximately $99,000. Finally, Leonteq Securities AG increased its position in Zillow Group by 627.0% in the first quarter. Leonteq Securities AG now owns 1,345 shares of the financial services provider's stock worth $56,000 after buying an additional 1,160 shares during the period. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Zillow Group Price Performance

NASDAQ Z opened at $35.88 on Friday. Zillow Group, Inc. has a one year low of $29.23 and a one year high of $93.88. The firm has a market cap of $8.07 billion, a PE ratio of 163.10, a price-to-earnings-growth ratio of 1.56 and a beta of 1.98. The stock's 50 day simple moving average is $33.06 and its 200 day simple moving average is $39.31.

Zillow Group (NASDAQ:Z - Get Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. The company had revenue of $772.00 million during the quarter, compared to the consensus estimate of $758.10 million. Zillow Group had a return on equity of 2.32% and a net margin of 1.96%. As a group, equities analysts expect that Zillow Group, Inc. will post 0.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on Z shares. Jefferies Financial Group reduced their price target on shares of Zillow Group from $75.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Zillow Group in a research note on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on Zillow Group from $80.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Royal Bank Of Canada lowered their price objective on shares of Zillow Group from $95.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 10th. Finally, UBS Group dropped their target price on Zillow Group from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $66.75.

Insider Activity at Zillow Group

In related news, CTO David A. Beitel sold 1,798 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $34.24, for a total value of $61,563.52. Following the completion of the transaction, the chief technology officer owned 133,013 shares of the company's stock, valued at approximately $4,554,365.12. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dan Spaulding sold 3,169 shares of the company'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 owned 44,561 shares in the company, valued at $1,576,122.57. The trade was a 6.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 37,351 shares of company stock valued at $1,280,657. 25.03% of the stock is owned by corporate insiders.

Zillow Group Company Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company's platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company's automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.

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