Zillow co-founder and newly reinstalled CEO Rich Barton’s investment in the real estate technology giant seems to be paying off handsomely.
Barton purchased approximately 703,500 shares of Zillow Group stock between Nov. 16 and 20, 2018, according to Zillow’s SEC filings. The shares, a mix of Class A Common Stock and Class C Capital Stock, were valued between $26.95 and $28.14 at the time of purchase.
“All the work the great people of Zillow Group have done to date, bringing critical real estate market information to light, has set the stage for Act II: transforming the way consumers buy, sell, mortgage, and rent homes,” Barton said in a statement in November, obtained by GeekWire.
“I’m proud to be a Zillow Group board member and shareholder. I couldn’t be more excited about the opportunity in front of us and am committed to the company’s long term vision and success.”
At that time, Barton was executive chairman of Zillow and its largest single individual shareholder. Since the stock purchase, Barton has re-taken the helm as CEO of the company as it moves deeper into the home buying and selling space, with ambitious goals for capturing market share.
On Tuesday, June 11, Zillow Group’s Class A stock opened the day trading at $45.57. Barton, who purchased 132,702 shares of Class A Common Stock in November at roughly $27 per share, has made more than $2.4 million off that investment.
All gains, of course, are just paper gains at this point and the real extent of Barton’s profit won’t be realized unless he sells his stock.
Zillow Group’s Class C Common Stock opened the day trading at $46.09. In November, Barton purchased 570,795 shares of Zillow’s Class C Common stock at around $27.50, meaning he’s made more roughly than $10.6 million off that investment.
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