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Ryan Sakamoto, the Executive Vice President and Chief Legal Officer of ZipRecruiter, Inc. (NYSE:ZIP), recently sold shares in the company, according to a filing with the Securities and Exchange Commission. On March 17, Sakamoto sold 2,502 shares of ZipRecruiter’s Class A Common Stock at a weighted average price of $6.0547 per share, totaling approximately $15,148. The sale comes amid a challenging period for ZIP shares, which have declined over 41% in the past six months. According to InvestingPro data, the company maintains strong financial health with a current ratio of 6.66, indicating robust liquidity. The shares were sold as part of a pre-arranged trading plan under Rule 10b5-1, adopted in September 2024.
Additionally, on March 15, Sakamoto acquired several batches of Class A Common Stock through the exercise of Restricted Stock Units (RSUs). The transactions involved acquiring 6,250, 5,237, 4,553, and 5,841 shares, respectively, at no cost. Following these transactions, Sakamoto’s direct ownership of ZipRecruiter shares stands at 117,505 shares, with an additional 77,700 shares held indirectly through the Sakamoto Living Trust.
In other recent news, ZipRecruiter has faced several significant developments impacting its financial and market standing. The company reported a fourth-quarter revenue of $111 million, surpassing forecasts but marking an 18% year-over-year decline. Full-year revenue for 2024 was $474 million, down 27% from the previous year. Despite these challenges, ZipRecruiter remains optimistic about potential revenue growth by the fourth quarter of 2025, supported by new product launches and acquisitions like Break Room, a UK-based employer rating site.
S&P Global Ratings downgraded ZipRecruiter to ’B’ from ’B+’ due to ongoing industry challenges, with the company’s revenue expected to further decline by about 6% in 2025. Barclays (LON:BARC) also downgraded the company’s stock to Equal Weight, reducing the price target to $6.00, citing concerns about the fiscal year 2025 EBITDA margin and valuation. Evercore ISI adjusted its price target to $10.00 from $13.00, maintaining an In Line rating, while Goldman Sachs reduced its 12-month price target to $8.00, keeping a Neutral rating.
These downgrades reflect concerns over ZipRecruiter’s ability to achieve positive revenue growth amid a competitive landscape and challenging hiring trends. The company plans to increase sales and marketing investments in 2025 to capture market share, although this may pressure profit margins. Analysts expressed cautious optimism for a potential recovery, with ZipRecruiter aiming for year-over-year revenue growth by the end of 2025.
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