Zillow officer sells off some of the company's stock

Zillow Group's Chief Industry Development Officer, Errol Samuelson, recently sold 5,397 shares of the company's stock at $37.82 for around $200,000.

The sale was revealed through a Securities and Exchange Commission filing and it leaves Samuelson with a remaining 77,891 shares. Several investment research firms have been lowering Zillow's target price while upgrading the stock's status to 'buy' in many cases. 

Overall the company has an average rating of 'hold' and an average target price of $53.50.

Zillow hasn't commented about the sale and it comes at a strange time for the industry. As the global COVID-19 pandemic puts all markets on alert it's never a positive sign to see an insider selling off a chunk of company stock.

Samuelson has been with Zillow Group since 2014 and before that was the President for Realtor.com. In his current position, Samuelson oversees Zillow's industry relations, new construction and advertising, and company-to-company product development.