Federated Hermes Inc. Has $5.45 Million Position in Zillow Group, Inc. (NASDAQ:ZG)

Federated Hermes Inc. lessened its holdings in shares of Zillow Group, Inc. (NASDAQ:ZG) by 5.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 121,064 shares of the technology company’s stock after selling 7,530 shares during the period. Federated Hermes Inc.’s holdings in Zillow Group were worth $5,453,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Shannon River Fund Management LLC acquired a new stake in Zillow Group in the 4th quarter worth $4,384,000. GSA Capital Partners LLP increased its stake in Zillow Group by 47.8% during the fourth quarter. GSA Capital Partners LLP now owns 78,301 shares of the technology company’s stock valued at $4,441,000 after acquiring an additional 25,333 shares during the period. Norges Bank acquired a new position in Zillow Group in the 4th quarter valued at approximately $102,096,000. Edgestream Partners L.P. lifted its position in shares of Zillow Group by 140.6% in the 1st quarter. Edgestream Partners L.P. now owns 20,735 shares of the technology company’s stock worth $992,000 after acquiring an additional 12,116 shares during the period. Finally, US Bancorp DE lifted its position in shares of Zillow Group by 42.6% in the 1st quarter. US Bancorp DE now owns 246,020 shares of the technology company’s stock worth $11,775,000 after acquiring an additional 73,504 shares during the period. Institutional investors own 20.32% of the company’s stock.

Insider Activity

In other news, CAO Jennifer Rock sold 4,050 shares of Zillow Group stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $49.23, for a total transaction of $199,381.50. Following the completion of the sale, the chief accounting officer now owns 79,694 shares in the company, valued at approximately $3,923,335.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Zillow Group news, General Counsel Bradley D. Owens sold 752 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $53.13, for a total transaction of $39,953.76. Following the transaction, the general counsel now owns 35,259 shares in the company, valued at $1,873,310.67. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Jennifer Rock sold 4,050 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $49.23, for a total value of $199,381.50. Following the completion of the sale, the chief accounting officer now directly owns 79,694 shares of the company’s stock, valued at $3,923,335.62. The disclosure for this sale can be found here. Insiders have sold 201,374 shares of company stock valued at $10,393,745 over the last 90 days. 17.14% of the stock is owned by company insiders.

Zillow Group Trading Up 3.8 %

Shares of NASDAQ ZG opened at $63.20 on Thursday. Zillow Group, Inc. has a 1-year low of $33.23 and a 1-year high of $65.60. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average of $50.80 and a two-hundred day moving average of $47.02. The company has a market cap of $14.93 billion, a PE ratio of -91.59 and a beta of 2.00.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.08. The firm had revenue of $572.00 million for the quarter, compared to the consensus estimate of $538.36 million. Zillow Group had a negative return on equity of 2.50% and a negative net margin of 6.81%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. As a group, equities analysts expect that Zillow Group, Inc. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays boosted their price objective on Zillow Group from $35.00 to $36.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. UBS Group boosted their price target on shares of Zillow Group from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Susquehanna raised their price objective on shares of Zillow Group from $42.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Craig Hallum lifted their target price on shares of Zillow Group from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald initiated coverage on shares of Zillow Group in a research report on Thursday, September 5th. They issued a “neutral” rating and a $47.00 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.82.

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.