The 7.7% stock decline from the first insider sale date (May 15) to the CEO's sale (May 22) suggests accelerating insider conviction, which per the AMPLIFIER calibration warrants cautious monitoring. A confirming 8-K (restructuring, revised guidance, or financing) would validate the bearish signal. If the stock approaches $34 area (roughly -7% from last insider sale), look for Form 4 filings with open-market purchases by any officer as a potential stabilization signal.
Price Chart
Executive Summary
Four Zillow insiders, including CEO Jeremy Wacksman and CFO Jeremy Hofmann, sold a combined ~$778K in open-market sales over a seven-day window. The CEO's sale ($331K at $36.54) and CFO's sale ($206K at $37.40) constitute the bulk of the cluster. While the cluster size is a modest ~0.24% of market cap, the concentration of C-suite selling warrants attention, albeit dampened by the weak predictive power of insider sales and potential vesting/plan patterns.
Key Financial Metrics
Key Facts
- CEO Jeremy Wacksman sold 9,072 shares for ~$331K at $36.54 on 2026-05-22
- CFO Jeremy Hofmann sold 5,450 shares for ~$206K at $37.40 on 2026-05-18
- General Counsel Bradley Owens sold 3,361 shares for ~$125K at $37.23 on 2026-05-15
- CPO Dan Spaulding sold 3,075 shares for ~$115K at $37.40 on 2026-05-18
- Total cluster value of ~$778K is roughly 0.24% of Zillow's approximate $327M market cap
- This cluster is classified as 'cluster-insider-trades' with multiple confirmed AMPLIFIER cross-filing signals
Financial Impact
~$778K in open-market sales by 4 insiders, representing about 0.24% of market cap
Risk Factors
- CEO CFO and GC all selling in the same window may indicate shared non-public concerns about near-term performance
- 10b5-1 plan timing could explain the sales, but no plan details were disclosed in the cluster
- The 0.24% of market cap is below the 0.5% threshold for high materiality, limiting the direct bearish read-through
- No insider has bought shares in the cluster, creating a one-sided selling signal
- The cross-filing AMPLIFIER verdicts suggest this cluster's signal is amplified by broader context (e.g., earnings and agreement events)
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-1779836131101 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 26, 2026 21w ago | Insider Cluster | — | awaiting T+20 | — | — |
May 18, 2026 23w 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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