Ryan Sakamoto, Executive Vice President and Chief Legal Officer of ZipRecruiter, Inc. (NYSE:ZIP), recently sold 1,072 shares of the company's Class A common stock. The shares were sold at a price of $7.58 each, totaling $8,125. Following this transaction, Sakamoto retains direct ownership of 112,336 shares. The sale comes as ZIP trades near its 52-week low of $7.21, with the stock down nearly 47% year-to-date. Despite challenging market conditions, the company maintains impressive gross profit margins of ~90%. According to InvestingPro analysis, ZIP currently appears undervalued.
Additionally, it's noted that Sakamoto holds an indirect ownership of 77,700 shares through the Sakamoto Living Trust. This transaction was conducted under a pre-established Rule 10b5-1 trading plan, which Sakamoto adopted on August 23, 2023. For deeper insights into insider trading patterns and 14+ additional ProTips, explore the comprehensive analysis available on InvestingPro.
In other recent news, ZipRecruiter's third-quarter performance and fourth-quarter outlook were the primary focus of their recent earnings call. Executives, including CEO Ian Siegel, President David Travers, and CFO Tim Yarborough, provided insights into the company's results and future expectations. Despite expressing confidence in their Q3 performance and Q4 guidance, they emphasized the potential risks and uncertainties that could influence these projections.
While no specific financial misses were discussed during the call, the company reminded everyone of the forward-looking nature of these statements. For those seeking a more detailed overview of the financial results, ZipRecruiter's quarterly report on Form 10-Q is available. The Q&A session following the call provided an opportunity for analysts and investors to seek clarifications.
These are the recent developments for ZipRecruiter, and as always, investors are encouraged to consider the potential risks outlined by the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.