This cluster is too small relative to market cap to warrant a directional trade. Monitor for any material 8-K (e.g., guidance change, restructuring, or M&A) in the next 10-15 trading days, as the cross-filing actuarial verdicts flag an amplifieing pattern when cluster insider trades co-occur with earnings, offering, or agreement filings. No immediate action needed.
Price Chart
Executive Summary
Three ZD insiders, including the EVP/General Counsel and two directors, sold shares worth a combined $614K over a 4-day window in 2026-06-05. The total dollar value is ~0.03% of the company's $1.8B market cap — well below the 0.1% materiality threshold. This is a routine, small-dollar cluster predominantly driven by blackout-window opening and personal diversification, not a coordinated bearish signal.
Key Financial Metrics
Key Facts
- Three insiders sold a combined $614K worth of ZD shares between June 2 and June 5, 2026
- Total sales represent approximately 0.03% of ZD's $1.8B market capitalization
- Sellers include EVP/General Counsel Jeremy Rossen ($376K), Director Jana Barsten ($151K), and Director W. Brian Kretzmer ($88K)
- All three transactions were open-market sales; no insider purchases occurred in the cluster window
- Prior 30-day insider activity shows 4 additional sells totaling $813K, suggesting continued non-directional selling pressure
Financial Impact
0.03% of market cap sold — immaterial
Risk Factors
- Insider selling may accelerate if the stock continues to trade near $47 (the highest sale price in the cluster)
- Although individually immaterial, sustained selling over multiple weeks could signal a broader de-risking by management ahead of an unknown catalyst
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-ZD-1780681279674 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 18d ago | SC 13G/A | $55.91 $58.44 | ▲ +4.53% | ▲ +4.80% | $57.71 (+3.22%) |
Aug 20, 2026 9w ago | Insider Cluster | $55.40 $55.82 | ▲ +0.76% | ▼ −0.36% | $57.71 (+4.17%) |
Aug 13, 2026 10w ago | Insider Cluster | $55.38 $56.08 | ▲ +1.26% | ▲ +2.63% | $57.71 (+4.21%) |
Jun 17, 2026 18w ago | 8-K | $46.03 $48.55 | ▲ +5.47% | ▲ +7.14% | $57.71 (+25.37%) |
Jun 8, 2026 20w ago | Insider Cluster | $46.37 $45.85 | ▼ −1.12% | ▼ −3.53% | $57.71 (+24.46%) |
Jun 5, 2026 20w ago | Insider Cluster | $45.81 $46.26 | ▲ +0.98% | ▲ +0.41% | $57.71 (+25.98%) |
Jun 3, 2026 20w ago | Insider Cluster | $44.54 $45.80 | ▲ +2.83% | ▲ +6.65% | $57.71 (+29.57%) |
Mar 26, 2026 30w ago | DEFA14A | $41.64 $42.70 | ▲ +2.55% | ▼ −1.32% | $57.71 (+38.59%) |
Feb 26, 2026 34w ago | 8-K | $27.65 $43.65 | ▲ +57.87% | ▲ +58.99% | $57.71 (+108.72%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers