The sales are small relative to market cap and follow a strong earnings beat, suggesting routine post-earnings diversification rather than informed bearishness. Monitor for any follow-on sales in the next 30 days; if the CEO or CFO sells >$1M in a single week, that would be a more material signal. The Q1 results (revenue +18%, net income +475% YoY) remain the dominant narrative.
Price Chart
Executive Summary
Seven Zillow insiders, including CEO Jeremy Wacksman and CFO Jeremy Hofmann, sold a total of ~$667K in open-market sales on May 14-15, 2026, following the company's strong Q1 earnings release on May 6. The cluster is concentrated in a 2-day window after earnings, with the CEO and CFO accounting for ~52% of the total dollar value. While the sales are notable for involving the entire C-suite, the total value is only ~0.2% of Zillow's ~$8.5B market cap, falling in the modest range. The cluster is amplified by the proximity to earnings (12 days) per cross-filing actuarial verdicts, but the dollar amount is too small to signal material bearish conviction.
Key Financial Metrics
Key Facts
- 7 insiders sold a total of ~$667K in open-market sales on May 14-15, 2026
- CEO Jeremy Wacksman sold $218K (5,751 shares at ~$37.88), CFO Jeremy Hofmann sold $333K total across two transactions
- Sales occurred 8-9 days after Zillow reported strong Q1 results (revenue +18% YoY to $708M, net income $46M vs $8M YoY)
- Total cluster value of ~$667K represents ~0.2% of Zillow's estimated $8.5B market cap
- All sales were open-market (code S); no 10b5-1 plan pattern evident from the data
- Cross-filing actuarial verdicts show AMPLIFIER for cluster-insider-trades + cluster-earnings-context
Financial Impact
~$667K in insider sales, ~0.2% of market cap
Risk Factors
- Insider sales could accelerate if the stock continues to rise, creating overhang
- The cluster includes the entire C-suite, which may raise governance questions despite small dollar amounts
- Zillow's cash position declined from $1.3B to $788M in Q1 due to $626M in buybacks, reducing financial flexibility
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-Z AND ZG-1779138357313 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 26, 2026 21w ago | Insider Cluster | — | awaiting T+20 | — | — |
May 18, 2026 22w ago | Insider Cluster | — | awaiting T+20 | — | — |
May 15, 2026 23w ago | Insider Cluster | — | awaiting T+20 | — | — |
May 15, 2026 23w ago | Insider Cluster | — | awaiting T+20 | — | — |
Mar 24, 2026 30w ago | Insider Cluster | — | awaiting T+20 | — | — |
Mar 3, 2026 33w ago | Insider Cluster | — | awaiting T+20 | — | — |
US Market Status
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