ZipRecruiter (NYSE:ZIP) CEO Sells $42,971.24 in Stock

ZipRecruiter, Inc. (NYSE:ZIP) CEO Ian Siegel sold 9,722 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $4.42, for a total transaction of $42,971.24. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ZipRecruiter Stock Performance

Shares of ZIP traded up $0.41 during trading hours on Thursday, reaching $4.66. 1,339,616 shares of the company traded hands, compared to its average volume of 548,028. The stock’s fifty day moving average is $3.77 and its 200 day moving average is $2.97. The stock has a market cap of $393.60 million, a P/E ratio of 13.32 and a beta of 1.42. ZipRecruiter, Inc. has a 1-year low of $1.65 and a 1-year high of $5.61.

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

Hedge Funds Weigh In On ZipRecruiter

A number of hedge funds have recently modified their holdings of the stock. Disciplined Growth Investors Inc. MN lifted its position in shares of ZipRecruiter by 178.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,508,331 shares of the company’s stock worth $22,587,000 after buying an additional 2,886,725 shares during the period. Renaissance Technologies LLC raised its stake in ZipRecruiter by 3.4% during the first quarter. Renaissance Technologies LLC now owns 1,920,900 shares of the company’s stock worth $3,534,000 after acquiring an additional 62,900 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of ZipRecruiter by 99.0% during the third quarter. Millennium Management LLC now owns 1,496,767 shares of the company’s stock valued at $6,316,000 after acquiring an additional 744,805 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of ZipRecruiter by 2.8% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,441,616 shares of the company’s stock valued at $5,622,000 after acquiring an additional 38,918 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of ZipRecruiter by 5.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 803,229 shares of the company’s stock valued at $3,133,000 after purchasing an additional 38,351 shares in the last quarter. 70.55% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting ZipRecruiter

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

Analysts Set New Price Targets

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

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.