ZipRecruiter (NYSE:ZIP) CEO Ian Siegel Sells 9,722 Shares of Stock

ZipRecruiter, Inc. (NYSE:ZIP) CEO Ian Siegel sold 9,722 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $4.42, for a total value of $42,971.24. Following the sale, the chief executive officer owned 50,091 shares in the company, valued at $221,402.22. This represents a 16.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ZipRecruiter Stock Up 9.7%

Shares of ZIP opened at $4.66 on Friday. The stock has a market cap of $393.60 million, a PE ratio of 13.32 and a beta of 1.42. ZipRecruiter, Inc. has a 12-month low of $1.65 and a 12-month high of $5.61. The business has a 50-day simple moving average of $3.77 and a two-hundred day simple moving average of $2.97.

ZipRecruiter (NYSE:ZIP) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.09. The firm had revenue of $107.55 million for the quarter. On average, equities research analysts expect that ZipRecruiter, Inc. will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of ZipRecruiter during the 3rd quarter valued at $42,000. Evoke Wealth LLC acquired a new position in ZipRecruiter during the 4th quarter valued at about $40,000. nVerses Capital LLC bought a new stake in ZipRecruiter during the fourth quarter worth $41,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of ZipRecruiter in the 3rd quarter worth $44,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in ZipRecruiter in the 4th quarter valued at about $43,000. 70.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZIP has been the subject of a number of research reports. The Goldman Sachs Group raised their price objective on shares of ZipRecruiter from $3.50 to $5.00 and gave the company a “neutral” rating in a report on Thursday. UBS Group boosted their target price on shares of ZipRecruiter from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded shares of ZipRecruiter from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 20th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $4.38.

More ZipRecruiter News

Here are the key news stories impacting ZipRecruiter this week:

• Positive Sentiment: Q2 results exceeded expectations: ZipRecruiter reported second-quarter revenue of approximately $118.1 million, ahead of forecasts, while adjusted earnings also beat consensus estimates. Coverage from Zacks cited a loss of $0.04 per share versus an expected loss of $0.06, compared with a $0.10 loss a year earlier. ZipRecruiter Q2 loss beats revenue estimates
• Positive Sentiment: Q3 guidance topped analyst expectations: Management forecast revenue of $118 million to $124 million for the third quarter, compared with consensus of $115.7 million. The company also targeted a 13% adjusted EBITDA margin, signaling expectations for continued profitability and operating discipline. ZipRecruiter Q3 revenue forecast
• Positive Sentiment: Goldman Sachs raised its price target: Goldman increased its target from $3.50 to $5.00, reflecting improved expectations following the results. However, it maintained a neutral rating, limiting the bullish signal. Goldman Sachs price target report
• Neutral Sentiment: CEO stock sales disclosed: CEO Ian H. Siegel sold a combined 19,444 shares at prices ranging from $4.42 to $4.55. The transactions were conducted under a pre-arranged Rule 10b5-1 plan, reducing concerns that the sales necessarily reflect a change in his outlook, though they may still weigh modestly on sentiment. SEC insider trading filing

About ZipRecruiter

ZipRecruiter, Inc operates an online employment marketplace that connects job seekers and employers. Its platform provides various solutions, such as job posting, online interviews, job alerts, match scores, and application updates. The company was incorporated in 2010 and is based in Santa Monica, California.