Recent insider trading at Zillow

By
Real Estate Broker/Owner with Best Practices Realty

Given the precipitous fall in the value of Zillow stock yesterday following their announcement on Thursday that they're now in the house flipping business, the timing of recent insider trades at Zillow is interesting to say the least. On April 4th, Amy Bohutinsky the Chief Operating Officer (COO) sold stock worth $8,923,095.05 at $52.88 per share. Chief Business Officer (CBO) Greg M.Schwartz sold stock on the same day at $53.30 per share. On March 27th, Errol G. Samuelson, Zillow's Chief Industry Development Officer (and former CEO of Realtor.com) sold stock at $54.98 per share. Between 3/21 and 3/22, Lloyd D. Frink who is listed as Director/Co-Founder/President/Co-Chairman made four separate sales of stock, with two at $56.13 and two at $57.42 per share. On 3/20, CEO/Director, Spencer M. Rascoff cashed in to the tune of $5,716,299.70 at $57.16 per share. Is it just a coincidence that these senior members of the leadership team at Zillow all sold stock in a two-week window which ended a little over a week before their house flipping announcement? If you own stock in Zillow did you get the memo that they were planning on doing this before March 20th when the sell-off began?

Comments (5)

Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Great information.....thanks for sharing and have a wonderful day!

Apr 14, 2018 08:07 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I love to see this.  Maybe some agents will see that this company is not for the agents and only about profit for themselves no matter what.

 

We need to get back to being professional and work with REAL Professionals

Apr 14, 2018 09:06 AM
Michele Cadogan 917-861-9166
Fillmore Real Estate 2990 Av U, Bklyn , NY 11229 - Brooklyn, NY
Licensed Real Estate Associate Broker -

I wonder how agents, brokers and MLS systems will react to this announcement - maybe they will question should they continue to use this platform to advertise their listings....

Apr 14, 2018 09:52 AM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Doesn't surprise me in the least & no, I don't nor would I ever hold shares of Zillow. If Zillow went away tomorrow it wouldn't be soon enough. It has brought me nothing but headaches with sellers having unrealistic price expectations for their homes based on their "Zestimate". 

Apr 14, 2018 02:36 PM
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

$5.7 MILLION dollars worth of stock sold? How fortuitous for the CEO to sell before the dive.

Apr 20, 2018 05:01 PM