Deltroit Asset Management UK LLP Takes Position in Zillow Group, Inc. $ZG

Key Points

• Deltroit Asset Management UK LLP opened a new position in Zillow Group during the fourth quarter, buying 39,789 shares valued at about $2.7 million. The stake represents roughly 0.4% of its portfolio.
• Several other institutional investors also increased or initiated positions in Zillow, while overall institutional ownership stands at 20.32%. Meanwhile, analysts are mixed: the stock has an average Hold rating and a consensus price target of $71.24.
• Zillow shares were recently trading near $35.39, close to their 52-week low, even as the company reported Q1 earnings of $0.53 per share, topping expectations. Revenue rose 18.4% year over year to $708 million, but insiders also sold shares in recent months.

Deltroit Asset Management UK LLP acquired a new stake in shares of Zillow Group, Inc. (NASDAQ:ZG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 39,789 shares of the technology company's stock, valued at approximately $2,715,000. Zillow Group comprises about 0.4% of Deltroit Asset Management UK LLP's portfolio, making the stock its 27th largest position.

A number of other hedge funds have also made changes to their positions in the stock. Aberdeen Group plc bought a new stake in shares of Zillow Group during the 3rd quarter valued at $2,529,000. Tabor Asset Management LP bought a new stake in shares of Zillow Group during the 3rd quarter valued at $2,428,000. M&T Bank Corp raised its stake in shares of Zillow Group by 38,344.0% during the 4th quarter. M&T Bank Corp now owns 1,604,270 shares of the technology company's stock valued at $120,092,000 after purchasing an additional 1,600,097 shares during the period. Emmett Investment Management LP bought a new stake in shares of Zillow Group during the 3rd quarter valued at $2,860,000. Finally, UBS Group AG raised its stake in shares of Zillow Group by 44.5% during the 4th quarter. UBS Group AG now owns 1,018,448 shares of the technology company's stock valued at $69,489,000 after purchasing an additional 313,643 shares during the period. Institutional investors and hedge funds own 20.32% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. DA Davidson set a $75.00 price objective on Zillow Group in a research note on Thursday, February 12th. Robert W. Baird decreased their price objective on Zillow Group from $67.00 to $55.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 18th. Cantor Fitzgerald decreased their price objective on Zillow Group from $56.00 to $46.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 25th. Piper Sandler decreased their price objective on Zillow Group from $70.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday, May 7th. Finally, Benchmark reiterated a "buy" rating on shares of Zillow Group in a research note on Wednesday, February 11th. Thirteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Zillow Group currently has an average rating of "Hold" and an average price target of $71.24.

Insider Transactions at Zillow Group

In other news, General Counsel Bradley D. Owens sold 3,364 shares of the company's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $37.23, for a total value of $125,241.72. Following the completion of the transaction, the general counsel directly owned 65,245 shares in the company, valued at approximately $2,429,071.35. This represents a 4.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dan Spaulding sold 3,078 shares of the company's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the completion of the transaction, the insider owned 49,696 shares of the company's stock, valued at $1,858,630.40. The trade was a 5.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 42,119 shares of company stock worth $1,578,206. Company insiders own 29.88% of the company's stock.

Zillow Group Stock Down 1.6%

Shares of NASDAQ ZG opened at $35.39 on Friday. The firm has a market capitalization of $8.10 billion, a P/E ratio of 141.56, a P/E/G ratio of 1.54 and a beta of 1.94. The stock's 50-day simple moving average is $40.63 and its two-hundred day simple moving average is $52.97. Zillow Group, Inc. has a twelve month low of $34.68 and a twelve month high of $90.22.

Zillow Group (NASDAQ:ZG - Get Free Report) last announced its earnings results on Wednesday, May 6th. The technology company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.10. The business had revenue of $708.00 million for the quarter, compared to analyst estimates of $705.17 million. Zillow Group had a return on equity of 1.41% and a net margin of 2.27%.The company's quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS. As a group, research analysts anticipate that Zillow Group, Inc. will post 0.9 EPS for the current fiscal year.

Zillow Group Profile

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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