Zillow Group, Inc. (NASDAQ:ZG) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its position in Zillow Group, Inc. (NASDAQ:ZG - Free Report) by 45.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,667 shares of the technology company's stock after selling 93,505 shares during the period. Bank of America Corp DE's holdings in Zillow Group were worth $8,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ZG. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Zillow Group during the fourth quarter valued at $27,000. Blue Trust Inc. grew its holdings in shares of Zillow Group by 70.2% during the fourth quarter. Blue Trust Inc. now owns 417 shares of the technology company's stock valued at $30,000 after buying an additional 172 shares during the last quarter. Asset Dedication LLC purchased a new stake in shares of Zillow Group during the fourth quarter valued at $47,000. Assetmark Inc. lifted its position in Zillow Group by 18,875.0% during the fourth quarter. Assetmark Inc. now owns 759 shares of the technology company's stock valued at $54,000 after purchasing an additional 755 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in Zillow Group by 24.0% during the fourth quarter. Jones Financial Companies Lllp now owns 821 shares of the technology company's stock valued at $58,000 after purchasing an additional 159 shares during the period. Institutional investors own 20.32% of the company's stock.

Zillow Group Price Performance

Shares of ZG stock traded down $0.04 during trading hours on Friday, hitting $65.50. The company had a trading volume of 43,019 shares, compared to its average volume of 562,533. The company's fifty day moving average is $65.37 and its 200 day moving average is $71.70. Zillow Group, Inc. has a fifty-two week low of $38.57 and a fifty-two week high of $86.58. The stock has a market capitalization of $15.81 billion, a PE ratio of -139.33, a price-to-earnings-growth ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last released its earnings results on Wednesday, May 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). The business had revenue of $598.00 million for the quarter, compared to analyst estimates of $587.88 million. Zillow Group had a negative return on equity of 2.12% and a negative net margin of 5.01%. Zillow Group's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. Equities analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on ZG shares. Robert W. Baird started coverage on shares of Zillow Group in a research report on Friday, January 31st. They issued a "neutral" rating and a $88.00 price objective for the company. Canaccord Genuity Group decreased their price objective on shares of Zillow Group from $86.00 to $76.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Susquehanna upped their price objective on shares of Zillow Group from $75.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Evercore ISI upped their price objective on shares of Zillow Group from $75.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Finally, Bank of America upped their price target on shares of Zillow Group from $81.00 to $84.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $81.80.

Insiders Place Their Bets

In related news, CEO Jeremy Wacksman sold 10,984 shares of Zillow Group stock in a transaction on Friday, May 16th. The shares were sold at an average price of $68.98, for a total transaction of $757,676.32. Following the sale, the chief executive officer now directly owns 171,517 shares in the company, valued at $11,831,242.66. This trade represents a 6.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dan Spaulding sold 5,534 shares of Zillow Group stock in a transaction on Friday, May 16th. The stock was sold at an average price of $68.98, for a total transaction of $381,735.32. Following the sale, the insider now owns 68,889 shares in the company, valued at $4,751,963.22. This represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,741 shares of company stock worth $7,114,134 in the last ninety days. 17.14% of the stock is owned by corporate insiders.

Zillow Group Company Profile

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.