A few weeks ago (mid-day on June 6th, 2014), I mentioned that even though Z had run up a lot in price, I was not willing to take profits at current prices (about $118 per share). I also mentioned that I would consider selling at $124+ a share. From then until today (June 24th, 2014), Zillow has managed to move up a shocking 20%. I have decided to take advantage of this and sell out of this position for now. I have no immediate plans for the proceeds of the sale – just keeping anyone following the portfolio informed. I will be posting both towards the end of the month with both a monthly and quarterly summary as well as when I decide upon a new position for the funds freed up by this sale.
While I thought Zillow deserved to be $118, at $140 a few weeks later, the run has outpaced its growth. I am more than willing to enter back into Zillow when prices become more favorable.