Form 4: Zillow Group Director Jay C. Hoag Increases Stake in Class C Capital Stock

Director Jay C. Hoag, through various entities, acquired additional Class C Capital Stock of Zillow Group, Inc. between June 7 and June 11, 2024.

Summary

• Jay C. Hoag, a director of Zillow Group, Inc., has reported the acquisition of additional Class C Capital Stock through several entities associated with Technology Crossover Ventures (TCV).
• On June 7, 2024, purchases were made at a price of $42.275 per share, with 652,520 shares acquired by TCV XI, L.P., 207,104 shares by TCV XI (A), L.P., 46,162 shares by TCV XI (B), L.P., 48,988 shares by TCV XI (Lux), SCSp, and 45,226 shares by TCV XI Member Fund, L.P.
• On June 10, 2024, further purchases occurred at $43.144 per share, with 533,020 shares acquired by TCV XI, L.P., 169,176 shares by TCV XI (A), L.P., 37,709 shares by TCV XI (B), L.P., 40,017 shares by TCV XI (Lux), SCSp, and 36,944 shares by TCV XI Member Fund, L.P.
• On June 11, 2024, additional shares were purchased at $43.074 per share, including 340,072 shares by TCV XI, L.P., 107,937 shares by TCV XI (A), L.P., 24,059 shares by TCV XI (B), L.P., 25,531 shares by TCV XI (Lux), SCSp, and 23,571 shares by TCV XI Member Fund, L.P.
• Hoag disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein, as the shares are held by various TCV entities in which he has an indirect interest.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive due to insider buying, which often signals confidence in the company's future. However, the director disclaims beneficial ownership, which tempers the positive sentiment slightly.

Positives

• The director's increased investment could be interpreted as a positive signal about the company's prospects.
• The purchases demonstrate confidence in Zillow's Class C Capital Stock.

Industry Context

Insider buying is often seen as a positive sign, suggesting that those with the most knowledge of the company's prospects are optimistic about its future. However, it's important to consider the context of the purchases, including the size of the investment relative to the insider's existing holdings and the overall market conditions.

Stakeholder Impact

• Shareholders may view the director's stock purchases as a positive signal.
• The increased stake could potentially influence investor confidence.

Key Dates