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

Bank of America Corp DE reduced its position in shares of Zillow Group, Inc. (NASDAQ:ZG) by 45.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ZG. Norges Bank bought a new position in Zillow Group in the 4th quarter worth about $165,326,000. Arrowstreet Capital Limited Partnership raised its holdings in Zillow Group by 1,261.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 260,465 shares of the technology company’s stock worth $18,454,000 after buying an additional 241,331 shares during the period. Virtu Financial LLC lifted its position in shares of Zillow Group by 101.3% in the 4th quarter. Virtu Financial LLC now owns 420,255 shares of the technology company’s stock valued at $29,775,000 after acquiring an additional 211,482 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Zillow Group in the fourth quarter worth $14,916,000. Finally, Schonfeld Strategic Advisors LLC increased its holdings in shares of Zillow Group by 2,728.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 96,801 shares of the technology company’s stock valued at $6,858,000 after purchasing an additional 93,378 shares during the period. 20.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on ZG. Citigroup cut their target price on Zillow Group from $98.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. The Goldman Sachs Group cut their price target on Zillow Group from $77.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Stephens reissued an “overweight” rating and issued a $73.00 price target on shares of Zillow Group in a research report on Wednesday, February 12th. DA Davidson reduced their price target on shares of Zillow Group from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Finally, UBS Group lowered their price objective on shares of Zillow Group from $98.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.80.

Zillow Group Stock Performance

Shares of ZG opened at $65.27 on Monday. Zillow Group, Inc. has a 52-week low of $38.40 and a 52-week high of $86.58. The stock has a 50 day simple moving average of $65.72 and a 200 day simple moving average of $71.87. The firm has a market capitalization of $15.76 billion, a PE ratio of -138.87, a P/E/G ratio of 8.90 and a beta of 2.22.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). The business had revenue of $598.00 million for the quarter, compared to the consensus estimate 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 revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. Equities research analysts predict that Zillow Group, Inc. will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Jun Choo sold 55,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $78.18, for a total value of $4,299,900.00. Following the completion of the sale, the chief operating officer now directly owns 86,853 shares in the company, valued at $6,790,167.54. The trade was a 38.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Errol G. Samuelson sold 2,854 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $73.34, for a total transaction of $209,312.36. Following the transaction, the insider now owns 142,636 shares in the company, valued at approximately $10,460,924.24. The trade was a 1.96% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,741 shares of company stock valued at $11,414,034. 17.14% of the stock is currently owned by corporate insiders.

Zillow Group 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.