Recent Share Transaction by ZipRecruiter Executive

In a recent transaction, Ryan T. Sakamoto, the Executive Vice President and Chief Legal Officer of ZipRecruiter, Inc. (NYSE: ZIP), sold 1,072 shares of the company’s Class A common stock. The sale, which occurred on September 19, 2024, totaled $10,419, with shares sold at a weighted average price of $9.7201.

The transaction was conducted under a Rule 10b5-1 trading plan that Sakamoto had previously adopted on August 23, 2023. The shares were sold at prices ranging from $9.42 to $10.35. This information was disclosed in a filing with the Securities and Exchange Commission.

Following the sale, Sakamoto’s direct holdings in ZipRecruiter stand at 107,672 shares of Class A common stock. Additionally, Sakamoto is the trustee and beneficiary of the Sakamoto Living Trust, which holds 77,700 shares.

Investors and followers of ZipRecruiter’s executive movements may find this transaction significant as part of assessing the company’s internal activities and potential market signals.

Other Recent Developments

ZipRecruiter has also experienced notable developments recently. The online employment marketplace reported a 27% year-over-year decline in Q2 2024 revenue, totaling $124 million, with a net income of $7 million. Despite this downturn, the company saw a 22% year-over-year increase in total web traffic. Strategically, ZipRecruiter acquired UK-based Breakroom and launched ZipIntro, a tool designed to expedite hiring through rapid video interactions. Both Goldman Sachs and UBS have revised their price targets for ZipRecruiter, maintaining a neutral stance due to the company’s mixed performance and outlook. Additionally, Mike Gupta has joined the Board of Directors after the resignation of Eric Liaw.

InvestingPro Insights

Amid the share sale by Ryan T. Sakamoto, investors may be interested in understanding ZipRecruiter’s financial health and market performance. According to InvestingPro data, ZipRecruiter has a market capitalization of approximately $955.64 million, suggesting a significant industry presence. Notably, the company’s gross profit margin is 89.9% for the last twelve months as of Q2 2024, indicating strong operational efficiency.

However, shares are trading at a high earnings multiple, with a P/E ratio of 31.41 and an adjusted P/E ratio of 35.69, as analysts foresee a sales decline this year. The company’s price-to-book ratio is also elevated at 39.73, indicating that the stock may be priced at a premium relative to its book value.

InvestingPro Tips suggest that management is actively repurchasing shares and operating with moderate debt. These insights may reflect management’s confidence in the company’s future prospects and ability to manage financial liabilities effectively. For a deeper analysis of ZipRecruiter’s performance and outlook, additional InvestingPro Tips are available.

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