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Ian Siegel, the Chief Executive Officer of ZipRecruiter, Inc. (NASDAQ:ZIP), recently executed a series of stock sales amounting to $269,639. These transactions occurred over three days, from March 19 to March 21, 2025, amid a challenging period for the stock, which has declined nearly 40% over the past six months according to InvestingPro data.
On March 19, Siegel sold 26,121 shares at a weighted average price of $5.917 per share. The following day, March 20, he sold an additional 9,722 shares at an average price of $5.921 per share. On March 21, Siegel continued with the sale of another 9,722 shares, this time at an average price of $5.9162 per share. Despite these sales, InvestingPro data shows the company maintains strong liquidity with a current ratio of 6.66 and operates with moderate debt levels.
These transactions were conducted under a Rule 10b5-1 trading plan, which had been adopted by Siegel on September 9, 2024. The shares sold were held by the Siegel Family Trust, with Ian Siegel and Rochelle Siegel serving as co-trustees. Following these sales, Siegel retains ownership of 512,384 shares indirectly through the trust. For deeper insights into ZIP’s valuation and 13 additional key ProTips, visit InvestingPro.
In other recent news, ZipRecruiter reported its fourth-quarter 2024 earnings, with revenue reaching $111 million, surpassing the forecasted $107.77 million. Despite the revenue beat, the company experienced a net loss of $12.9 million for the year. Barclays (LON:BARC) downgraded ZipRecruiter’s stock rating to Equal Weight, setting a new price target of $6, citing a lower-than-expected EBITDA margin forecast for 2025. Similarly, Evercore ISI reduced its price target from $13 to $10, although it noted potential signs of recovery in hiring trends. Goldman Sachs also adjusted its price target from $9 to $8, maintaining a Neutral rating, and highlighted ZipRecruiter’s increased web traffic as a positive indicator.
S&P Global Ratings downgraded ZipRecruiter’s credit rating to ’B’ from ’B+’, pointing to ongoing industry challenges and a significant decline in revenue. The company’s revenue fell by 26.6% in 2024, with further declines anticipated. Despite these challenges, S&P forecasts slight revenue growth by the fourth quarter of 2025, driven by stabilizing hiring trends. ZipRecruiter’s liquidity position remains strong, with a cash balance of $505.9 million and an undrawn $290 million revolver, which helps offset some credit risks. The company plans to continue investing in sales and marketing to capture market share, although this may pressure profit margins in the short term.
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