Insider Selling: ZipRecruiter (NYSE:ZIP) CEO Sells $31,402.06 in Stock

ZipRecruiter, Inc. (NYSE:ZIP) CEO Ian Siegel sold 9,722 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $3.23, for a total transaction of $31,402.06. Following the completion of the transaction, the chief executive officer directly owned 111,152 shares of the company’s stock, valued at $359,020.96. This trade represents a 8.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ZipRecruiter Trading Up 16.0%

ZIP stock opened at $3.60 on Friday. The stock has a market capitalization of $303.45 million, a P/E ratio of -12.84 and a beta of 1.47. ZipRecruiter, Inc. has a 12 month low of $1.65 and a 12 month high of $6.55. The firm has a 50-day moving average price of $2.43 and a 200-day moving average price of $3.28.

ZipRecruiter (NYSE:ZIP) last posted its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.09. The company had revenue of $107.55 million during the quarter. As a group, equities analysts predict that ZipRecruiter, Inc. will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC increased its stake in shares of ZipRecruiter by 30.6% in the fourth quarter. Hsbc Holdings PLC now owns 208,392 shares of the company’s stock valued at $808,000 after buying an additional 48,881 shares during the period. Alpine Global Management LLC acquired a new position in shares of ZipRecruiter in the fourth quarter valued at approximately $169,000. Invesco Ltd. increased its stake in shares of ZipRecruiter by 25.4% in the fourth quarter. Invesco Ltd. now owns 168,211 shares of the company’s stock valued at $656,000 after buying an additional 34,095 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of ZipRecruiter by 101.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,151 shares of the company’s stock valued at $82,000 after buying an additional 10,657 shares during the period. Finally, Sunstone Asset Management L.P. acquired a new position in shares of ZipRecruiter in the fourth quarter valued at approximately $151,000. Institutional investors and hedge funds own 70.55% of the company’s stock.

Analyst Ratings Changes

ZIP has been the subject of a number of research reports. UBS Group increased their target price on shares of ZipRecruiter from $2.50 to $3.50 and gave the stock a “neutral” rating in a report on Friday. Barclays dropped their target price on shares of ZipRecruiter from $5.00 to $3.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Finally, Weiss Ratings initiated coverage on shares of ZipRecruiter in a report on Tuesday, April 7th. They issued a “sell (e+)” rating for the company. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $4.25.

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.